{"schema_version":"secwatch.filing_event.v1","accession":"0001866175-24-000038","form_type":"8-K","ticker":"CRGY","cik":"0001866175","company_name":"Crescent Energy Co","filed_at":"2024-04-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:20.979999+00:00","generated_at":"2026-06-03T23:35:02.116004+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Crescent Energy lowers borrowing base to $1.7B, extends maturity to 2029","bullets":["Borrowing base reduced from $2.0B to $1.7B; elected commitments unchanged at $1.3B.","Maturity date extended from September 2027 to April 10, 2029.","Unused commitment fee set at 0.375% or 0.50% per year based on utilization; SOFR margin unchanged at 2.35%-3.35%.","Springing maturity to November 16, 2027 triggers if >$100M of 9.25% senior notes outstanding.","Credit agreement amendments include adjusted covenants and removal of Free Cash Flow definition."],"urls":{"canonical":"https://secwatch.observer/filing/0001866175-24-000038","json":"https://secwatch.observer/filing/0001866175-24-000038.json","markdown":"https://secwatch.observer/filing/0001866175-24-000038.md","text":"https://secwatch.observer/filing/0001866175-24-000038.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1866175/000186617524000038/0001866175-24-000038-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1866175/000186617524000038/crgy-20240410.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T23:35:02.116004+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"754b025b1bae0b580dff2c5b80cdd42849ea85ec","claim":"Crescent Energy Co amended credit facility with Wells Fargo Bank, National Association, as administrative agent, collateral agent and a letter of credit issuer at SOFR plus 2.35% to 3.35% or an adjusted base rate plus 1.25% to 2.25%, in each c maturing April 10, 2029.","evidence_excerpt":"Among other things, the Credit Agreement Amendment included a reduction of the borrowing base to $1.7 billion from $2.0 billion and maintained elected commitments at $1.3 billion and extends the maturity date of any revolving loans under the Credit Agreement to April 10, 2029 from September 23, 2027.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1866175/000186617524000038/0001866175-24-000038-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Counterparty","value":"Wells Fargo Bank, National Association, as administrative agent, collateral agent and a letter of credit issuer"},{"label":"Rate","value":"SOFR plus 2.35% to 3.35% or an adjusted base rate plus 1.25% to 2.25%, in each c"},{"label":"Maturity","value":"April 10, 2029"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"d5ca1751f3f1f5ec7555e74c269ef0beea32451f","claim":"Crescent Energy Co amended Seventh Amendment to Credit Agreement with Wells Fargo Bank, National Association valued at reduction of the borrowing base to $1.7 billion from $2.0 billion and maintained elected commitments (effective 2024-04-10).","evidence_excerpt":"by and among Crescent Finance, certain subsidiaries of Crescent Finance, as guarantors, Wells Fargo Bank, National Association, as administrative agent, collateral agent and a letter of credit issuer, and the other lenders and letter of credit issuers party thereto from time to time.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1866175/000186617524000038/0001866175-24-000038-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Wells Fargo Bank, National Association"},{"label":"Value","value":"reduction of the borrowing base to $1.7 billion from $2.0 billion and maintained elected commitments"},{"label":"Effective","value":"2024-04-10"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}