Crescent Energy Company - CRGY STOCK NEWS

Crescent Energy (NYSE: CRGY) has announced its upcoming first quarter 2025 earnings release schedule. The company will release its Q1 2025 financial and operating results after market close on Monday, May 5, 2025. A conference call and webcast to discuss the results will be held the following day, Tuesday, May 6, 2025, at 10:00 a.m. CT (11:00 a.m. ET).

Investors can access the conference call through domestic (877-407-0989) or international (201-389-0921) dial-in numbers. The webcast will be available on the company's website at www.crescentenergyco.com, where supplemental slides will also be posted. A replay of the webcast will be accessible on the website after the call.

Crescent Energy (NYSE: CRGY) has announced a significant corporate restructuring by eliminating its umbrella partnership-C (Up-C) structure through the conversion of all remaining Class B common stock into Class A common stock, effective April 4, 2025.

The Corporate Simplification will result in all stockholders holding Class A common stock with identical economic and voting interests. KKR maintains its 10% ownership and has agreed to a 180-day share lock-up period.

The company expects this simplification to:

• Reduce organizational complexity
• Improve financial presentation clarity
• Eliminate certain compliance and reporting costs
• Enhance accessibility for future investors

The restructuring aligns with Crescent's strategic goal of 'simplifying to grow' and positions the company to capitalize on opportunities with its strong balance sheet and well-hedged free cash flow generation.

Crescent Energy (NYSE: CRGY) has announced its financial and operating results for Q4 and full year 2024, along with its 2025 capital budget and production outlook. The company has scheduled a conference call to discuss these results on Thursday, February 27, 2025, at 10 a.m. CT (11 a.m. ET). Detailed information about the earnings release and supplemental presentation can be accessed through the company's website at www.crescentenergyco.com.

Crescent Energy Company (NYSE: CRGY) has announced its upcoming fourth quarter and full year 2024 earnings release schedule. The company will release its financial and operating results after market close on Wednesday, February 26, 2025, followed by a conference call and webcast on Thursday, February 27, 2025 at 10:00 a.m. CT (11:00 a.m. ET).

The conference call will discuss Q4 and full-year 2024 results, as well as the company's outlook for 2025. Investors can access the conference via dial-in numbers 877-407-0989 (Domestic) or 201-389-0921 (International). The earnings release and supplemental slides will be available on the company's website, where a webcast replay will also be accessible after the call.

Crescent Energy (NYSE: CRGY) has completed its acquisition of Central Eagle Ford assets from Ridgemar Energy for $905 million, comprising $830 million in cash and 5,454,546 shares of Class A common stock, plus future oil price contingent consideration. The transaction strengthens Crescent's core Eagle Ford position with high-quality assets that enhance oil-weighted production and extend low-risk inventory.

CEO David Rockecharlie emphasized the acquisition's accretive nature and alignment with the company's disciplined approach to creating shareholder value through combining investing and operational expertise. The company maintains focus on profitable growth and advancing investment-grade ambitions while delivering sustained cash flow and returns.

Crescent Energy (NYSE: CRGY) has announced the pricing of an upsized $400 million private placement of additional 7.625% Senior Notes due 2032, increased from the initially announced $300 million. The notes were priced at 100.250% of par and will mature on April 1, 2032, with interest payments starting April 1, 2025.

The proceeds, along with those from a previously announced Class A Common Stock offering, will fund the cash portion of the Ridgemar Acquisition. Temporarily, the funds will reduce revolving credit facility borrowings. If the Ridgemar Acquisition fails, proceeds will pay down credit facility debt or fund general corporate purposes. The offering, expected to close December 11, 2024, is not contingent on completing either the Ridgemar Acquisition or the Equity Offering.

Crescent Energy (NYSE: CRGY) announced a private placement offering of $300 million in 7.625% Senior Notes due 2032. These Additional Notes will be offered under Rule 144A and Regulation S of the Securities Act of 1933 and will be treated as a single series with the previously issued $700 million in Senior Notes. The Notes mature on April 1, 2032, with interest payments at 7.625% per annum, payable on April 1 and October 1 each year, starting April 1, 2025.

The proceeds will fund the cash portion of Crescent's acquisition of Ridgemar (Eagle Ford) , and temporarily reduce borrowings under its revolving credit facility. If the acquisition doesn't complete, proceeds will reduce borrowings or be used for general corporate purposes. This offering is independent of the Ridgemar Acquisition and the previously announced Equity Offering. The Notes and guarantees are unregistered under the Securities Act and will be sold to qualified institutional buyers and persons outside the U.S.

Crescent Energy Company (NYSE: CRGY) has announced the pricing of an upsized public offering of 21,500,000 shares of Class A common stock at $14.00 per share. The offering represents a 3,500,000 share increase from the originally proposed 18,000,000 shares. The company plans to use the proceeds to partially fund the Ridgemar Acquisition, expected to close in Q1 2025. The underwriters have a 30-day option to purchase up to an additional 3,225,000 shares. The offering is expected to close on December 5, 2024, with Wells Fargo Securities, KKR Capital Markets, Raymond James, and Evercore Group serving as joint book-running managers.

Crescent Energy Company (NYSE: CRGY) has announced a public offering of 18,000,000 shares of Class A common stock. The company plans to use the proceeds to partially fund its recently announced Ridgemar (Eagle Ford) acquisition, expected to close in Q1 2025. Underwriters will have a 30-day option to purchase up to an additional 2,700,000 shares.

The offering will be managed by Wells Fargo Securities, KKR Capital Markets, Raymond James & Associates, and Evercore Group as joint book-running managers. If the Ridgemar acquisition doesn't complete, proceeds will be used to reduce revolving credit facility borrowings or for general corporate purposes.