Highest-materiality recent filing
Crescent Energy Q1 beats expectations; record production 341 MBoe/d, $192M levered FCF
Net loss $419M, adjusted net income $175M; operating cash flow $409M, levered FCF $192M.
Crescent Energy prices upsized $690M of 2.75% convertible notes due 2031
Issued $690M aggregate principal of 2.75% Convertible Senior Notes due 2031, including full exercise of $90M over-allotment.
Crescent Energy announces $400M convertible notes offering to redeem 9.25% senior notes due 2028
$400M convertible senior notes due 2031 offered privately; underwriters can purchase up to additional $60M.
FY2025: net income $167M, Adj. net income $470M, Adj. EBITDAX $2.1B, OCF $1.7B, levered FCF $856M.
Crescent Energy reports $84M hedge cash received in Q4 2025, $165M for full year
Preliminary Q4 2025 hedge settlements total $84M cash received ($50M net derivatives, $34M from acquired contracts).
Crescent Energy completes exchange of Vital notes, issues $532M in new senior notes
Issued $294.8M of 7.75% senior notes due 2029 and $237.2M of 9.75% senior notes due 2030.
Crescent Energy completes acquisition of Vital Energy; exchange ratio 1.9062 shares per Vital share
Completed acquisition of Vital Energy; each Vital share converted into 1.9062 shares of Crescent Class A common stock.
Crescent launches exchange offers for up to $600M of Vital senior notes
Crescent Finance offers to exchange up to $298M of 7.75% Vital notes due 2029 and $302M of 9.75% notes due 2030 for new Crescent notes with identical terms.
Crescent Energy files pro forma financials for Vital Energy, Ridgemar, and SilverBow acquisitions
Ridgemar Acquisition: $830M cash + 5.45M Crescent shares; earn-out up to $170M based on WTI.
Crescent Energy Q3 2025: $204M levered FCF, net loss $10M; raises guidance
Q3 production 253 MBoe/d (41% oil); drilled 16 gross operated wells in Eagle Ford.
Borrowing base automatically increases by $1.3B to $3.9B upon completion of Crescent-Vital combination.
Crescent Energy to acquire Vital Energy in all-stock transaction valued at $3.1B
All-stock acquisition values Vital at ~$3.1B inclusive of net debt; Vital shareholders get 1.9062 Crescent shares per Vital share.
Crescent Energy to acquire Vital Energy in all-stock merger; exchange ratio 1.9062
Crescent to acquire Vital in all-stock merger; each Vital share converts into 1.9062 Crescent shares.
Crescent Energy Q2 2025: record production 263 MBoe/d, net income $162M, enhances 2025 guidance
Record production of 263 MBoe/d (41% oil); net income $162M, Adjusted EBITDAX $514M, Levered FCF $171M.
Crescent Energy issues $600M 8.375% notes due 2034, tenders $306M of 9.25% notes
Issued $600M 8.375% Senior Notes due 2034; interest payable Jan 15 and Jul 15 starting Jan 2026.
Crescent Energy Finance LLC priced $600M aggregate principal of 8.375% Senior Notes due 2034, upsized from $500M.
Crescent Energy subsidiary plans $500M notes offering, launches tender for 2028 notes
CE Finance intends to offer $500M Senior Notes due 2034 in a private placement.
Crescent Energy appoints Joey Hall as COO, effective June 2, 2025
Jerome D. "Joey" Hall, age 59, previously EVP Operations at Pioneer Natural Resources, appointed COO.
Record Q1 production 258 MBoe/d (40% oil, 58% liquids); net income $6M, adjusted net income $143M.
Ridgemar Energy Management generated $435.8M revenue and $224.5M net income for year ended Dec 31, 2024 (up from $172.5M and $47.0M in 2023).
Crescent Energy FY2024 net loss $138M, adj net income $357M; guides ~30% production growth
Full year 2024 net loss $138M, Adjusted Net Income $357M; record production 201 MBoe/d (up >30% YoY).
Crescent Energy closes $905M Ridgemar Eagle Ford acquisition with $830M cash and stock
Upfront consideration of $905M: $830M cash plus 5,454,546 shares of Class A common stock.
Crescent Energy prices $330.6M equity and $400M notes offerings for Ridgemar acquisition
Equity offering upsized to 21.5M shares at $14.00/share; $330.6M net raised; underwriters' option for 3.225M shares exercised in full.
Crescent Energy plans $300M add-on of 7.625% senior notes due 2032 for Ridgemar acquisition funding
Offering $300M additional 7.625% Senior Notes due 2032 as a single series with existing $700M notes.
Cash consideration $805M (adjustable) + up to 7.27M CRGY shares + up to $170M earn-out based on WTI in 2026-27.
Crescent Energy Q3 Adj EBITDAX $430M; raises 2H24 capex guidance ~10% lower
Q3 production 219 MBoe/d (39% oil); net loss $6M, Adj net income $82M, OCF $368M.
Offering $250M of 7.375% Senior Notes due 2033 in private placement; proceeds to repay revolver.
Crescent Energy provides SilverBow reserves, audited financials post-merger close
SilverBow proved reserves: 94.96 MMbo, 1.68 Tcf gas, 71.24 MMbbl NGL; PV10 of $2.67B as of Dec 31, 2023.
Net income $70M, Adjusted EBITDAX $320M, Levered Free Cash Flow $147M.
Crescent closes transformative acquisition of SilverBow Resources; issues ~52M shares, $358M cash
Closed all-stock-and-cash merger with SilverBow on July 30, 2024, ahead of schedule.
Crescent Energy subsidiary issues $750M of 7.375% senior notes due 2033 for SilverBow acquisition
Issued $750M aggregate principal of 7.375% Senior Notes due Jan 15, 2033; net proceeds ~$734.8M after discounts and expenses.
Crescent Energy subsidiary offers $750M senior notes due 2033 to fund SilverBow merger
Crescent Energy Finance LLC offers $750M in Senior Notes due 2033 in a private placement.
Moody's affirmed Ba3 CFR and stable outlook; S&P affirmed B+ and revised outlook to Positive; Fitch placed B+ IDR on Rating Watch Positive.
Crescent Energy to acquire SilverBow Resources; mixed cash/stock deal valued at ~$38/share
SilverBow stockholders receive either $38.00 cash (capped at $400M total), 3.125 CRGY shares, or mix of 1.866 shares and $15.31 cash.
Crescent Energy to acquire SilverBow Resources; no financial terms disclosed in filing
Crescent Energy entered into a merger agreement to acquire SilverBow Resources on May 15, 2024.
On May 19, 2025, the Board of Directors (the “Board”) of Crescent Energy Company (the “Company”) appointed Mr. Jerome D. “Joey” Hall to serve as the Company’s Chief Operating Officer, effective June 2, 2025.
appointed Marcus C. Rowland and Michael Duginski to the Board
appointed Marcus C. Rowland and Michael Duginski to the Board
On August 18, 2023, Benjamin M. Conner notified Crescent Energy Company (NYSE: CRGY) (the “Company”) of his intent to resign from his position as Executive Vice President of the Company in order to pursue other business opportunities, effective immediately.
Clay Rynd (32) Mr. Rynd has been appointed Executive Vice President of the Company.
David C. Rockecharlie (49) Mr. Rockecharlie has been appointed Chief Executive Officer of the Company.
Brandi Kendall (37) Ms. Kendall has been appointed Chief Financial Officer of the Company.
Ben Conner (35) Mr. Conner has been appointed as Executive Vice President of the Company.
Todd Falk (41) Mr. Falk has been appointed Chief Accounting Officer of the Company.
Max materiality 0.90 · Median 0.65 · Most common event debt