Crescent Energy Q3 Adj EBITDAX $430M; raises 2H24 capex guidance ~10% lower

Crescent Energy Co

Q3 production 219 MBoe/d (39% oil); net loss $6M, Adj net income $82M, OCF $368M.
Raised 2H24 guidance: capex down ~10% to $425-$455M; production unchanged 232-241 MBoe/d.
Closed $168M all-cash Central Eagle Ford bolt-on Oct 1; added to S&P SmallCap 600 Oct 4.
$250M add-on to 7.375% senior notes due 2033 at 101% of par; leverage 1.5x, liquidity $1.5B.
Declared $0.12/share quarterly dividend; repurchased ~20% of authorization at avg $10.07.

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