Crescent Energy Q2 2026: record operating cash flow $707M, raises production guidance, lowers cost outlook

Crescent Energy Co

Q2 production 335 MBoe/d (140 MBo/d oil); net income $494M, adjusted net income $263M.
Record operating cash flow $707M, record levered free cash flow $418M, adjusted EBITDAX $798M.
Raised 2026 total production guidance midpoint 1%; lowered adjusted opex guidance 4% and production tax guidance 15%.
Redeemed remaining $259M of 2029 senior notes; declared $0.12/share quarterly dividend.
Permian synergy target increased to ~$250-$300M (3x original); ~$190M captured.

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