---
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"
generated_at: "2026-06-03T23:35:02.116004+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Crescent Energy lowers borrowing base to $1.7B, extends maturity to 2029

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001866175-24-000038
- JSON: https://secwatch.observer/filing/0001866175-24-000038.json
- Plain text: https://secwatch.observer/filing/0001866175-24-000038.txt

## Key facts
- Debt Financings
  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.
  - Instrument: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent, collateral agent and a letter of credit issuer
  - Rate: SOFR plus 2.35% to 3.35% or an adjusted base rate plus 1.25% to 2.25%, in each c
  - Maturity: April 10, 2029
  - Event: amendment
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1866175/000186617524000038/0001866175-24-000038-index.htm
- Material Agreements
  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).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association
  - Value: reduction of the borrowing base to $1.7 billion from $2.0 billion and maintained elected commitments
  - Effective: 2024-04-10
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1866175/000186617524000038/0001866175-24-000038-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.