Crescent Energy Q1 record production 166 MBoe/d; guides FY 2024 higher

Crescent Energy Co

Record quarterly production 166 MBoe/d (42% oil; 59% liquids); net loss $32M on derivative mark-to-market.
Adjusted EBITDAX $313M, operating cash flow $184M, levered free cash flow $66M.
FY 2024 production guidance raised ~1.5% to 157-162 MBoe/d; capex $193M in Q1.
Declared $0.12/share quarterly dividend; executed $23M buyback with $127M remaining.
Closed $25M bolt-on Eagle Ford minerals acquisition; net leverage 1.4x, liquidity $1.2B.

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Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Crescent Energy Co reported the first quarter of 2024 results: net income $32 million. Guidance raised.

Period: the first quarter of 2024
Net income: $32 million
Guidance: raised
Result: reported results

Exact text from the filing

Crescent Energy Company (the “Company”) announced its financial and operating results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001866175-24-000052

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