secwatch.observer — SEC 8-K summary
======================================

Issuer:     Crescent Energy Co (CRGY)
CIK:        0001866175
Form:       8-K
Filed at:   2024-03-04T23:59:59+00:00
Accession:  0001866175-24-000014
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crescent Energy reports record 2023 production; issues 2024 guidance with 6% growth
--------------------------------------------------------------------------------

- Full-year 2023 net income $322M, Adj. EBITDAX $1.0B; record annual production 149 MBoe/d (+8% YoY).
- Q4 2023 net income $140M, Adj. Net Income $53M; record quarterly production 165 MBoe/d with $102M levered free cash flow.
- Generated $936M operating cash flow and $310M levered free cash flow for full year 2023.
- 2024 guidance: production 155-160 MBoe/d (~6% growth), capex $550-625M; fixed dividend $0.12/share, $150M buyback.
- Closed two Eagle Ford acquisitions for $850M aggregate; credit rating upgraded (S&P B+/BB-, Moody's).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1866175/000186617524000014/0001866175-24-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1866175/000186617524000014/crgy-20240304.htm
  HTML page:      https://secwatch.observer/filing/0001866175-24-000014

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer