Welcome to our dedicated page for Crescent Energy Company news (Ticker: CRGY), a resource for investors and traders seeking the latest updates and insights on Crescent Energy Company stock.
Crescent Energy Company (NYSE: CRGY) is a U.S. crude oil and natural gas producer that regularly issues news about its operations, transactions and financial performance. As an exploration and production company with a long-life, balanced portfolio, Crescent uses press releases to explain how acquisitions, divestitures and financing decisions affect its business.
News for CRGY often covers quarterly and annual earnings, including the release of financial and operating results and the scheduling of conference calls and webcasts. The company provides earnings releases and supplemental presentations and announces the timing of calls where management discusses recent performance and outlook.
Crescent’s news flow also reflects its growth-through-acquisition strategy. The company has announced the acquisition of Vital Energy, Inc., the Ridgemar Acquisition and the SilverBow Acquisition, along with related pro forma financial information. Updates on the completion of the Vital merger, internal reorganizations and the assumption or exchange of senior notes provide insight into how Crescent is integrating acquired businesses and reshaping its capital structure.
Another recurring topic is portfolio management and non-core divestitures. Crescent has reported multiple asset sales, including non-operated DJ Basin assets and conventional Rockies and Barnett divestitures, and has described how proceeds are applied to reduce borrowings under its revolving credit facility.
Investors following CRGY news can also see announcements about credit facility amendments, borrowing base redeterminations, hedge settlement updates and exchange offers for senior notes. Together, these items offer a view into Crescent’s operational footprint in basins such as the Eagle Ford, Permian and Uinta, its balance sheet management and its approach to shareholder value. Bookmark this page to monitor the latest official company announcements and regulatory-related news items for Crescent Energy.
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.
Crescent Energy (NYSE: CRGY) has announced a definitive agreement to acquire Eagle Ford assets from Ridgemar Energy for $905 million plus future oil price contingent payments up to $170 million. The acquisition, expected to close in Q1 2025, adds approximately 20 Mboe/d of oil-weighted production and ~140 high-return well locations.
The transaction is valued at 2.7x EBITDA and includes up to $100 million in equity issued to the seller, with the remainder in cash. The assets are located in Frio, Atascosa, La Salle and McMullen counties, directly offsetting Crescent's existing footprint. This acquisition builds upon Crescent's $4 billion M&A activity in Eagle Ford over the past 18 months.
Crescent Energy (NYSE: CRGY) announced its financial and operating results for the third quarter of 2024. The company, which focuses on energy operations in Texas and the Rocky Mountain region, combines stable cash flows from low-decline production with high-quality development inventory. Crescent follows a growth through acquisition strategy while maintaining consistent capital returns to shareholders. The company has scheduled its Q3 2024 conference call for November 5, 2024, at 10 a.m. CT.
Crescent Energy Company (NYSE: CRGY) has announced its plans to release its third quarter 2024 financial and operating results after market close on Monday, November 4, 2024. The company will host a conference call and webcast at 10 a.m. CT (11 a.m. ET) on Tuesday, November 5, 2024, to discuss these results.
Investors and interested parties can access the conference call by dialing 877-407-0989 (domestic) or 201-389-0921 (international). A webcast of the call will also be available on the company's website at www.crescentenergyco.com. The earnings release and supplemental slides will be posted on the website prior to the call. A replay of the webcast will be accessible on the website following the call for those unable to attend the live event.
Crescent Energy Co. (NYSE:CRGY) is set to replace Perficient Inc. (NASD:PRFT) in the S&P SmallCap 600 index. This change will take effect prior to the opening of trading on Friday, October 4, 2024. The replacement is due to EQT Group's pending acquisition of Perficient, which is expected to close soon, subject to final conditions.
The index change details are as follows:
- Addition: Crescent Energy (CRGY) to the S&P SmallCap 600, classified under the Energy sector
- Deletion: Perficient (PRFT) from the S&P SmallCap 600, currently classified under the Information Technology sector
This modification in the S&P SmallCap 600 index composition reflects ongoing changes in the market landscape and corporate activities.
Crescent Energy Company (NYSE: CRGY) has announced that its subsidiary, Crescent Energy Finance , plans to offer $250 million in additional 7.375% Senior Notes due 2033. This private placement is subject to market conditions and will be offered to eligible purchasers under Rule 144A and Regulation S of the Securities Act. These notes will be an extension of the previously issued $750 million in 7.375% Senior Notes due 2033.
The new notes will have similar terms to the existing ones, maturing on January 15, 2033, with interest payable semi-annually. Crescent Energy intends to use the net proceeds to repay a portion of its revolving credit facility. The notes and related guarantees are not registered under the Securities Act and will be offered only to qualified institutional buyers and non-U.S. persons.
Crescent Energy Company (NYSE: CRGY) has announced a $168 million acquisition of assets from a private Eagle Ford operator. This bolt-on acquisition complements Crescent's existing Central Eagle Ford footprint and follows recent significant acquisition activity in the region. Key highlights include:
- Strong investment returns and accretive to financial metrics
- Complementary operations directly offsetting core position
- Addition of ~30 oil-weighted, core development locations
- Ownership of minerals, surface, and midstream assets
- Maintenance of strong balance sheet and Investment Grade credit metrics
The transaction is expected to close in September 2024, subject to customary conditions. Crescent CEO David Rockecharlie emphasized the opportunity for further growth and compelling investment returns in the Eagle Ford region.
Crescent Energy Company (NYSE: CRGY) has announced its financial and operating results for the second quarter of 2024. The company, which focuses on energy operations in Texas and the Rocky Mountain region, has released its earnings report and supplemental presentation on its website. Crescent Energy is planning a conference call on Tuesday, August 6, 2024, at 10 a.m. CT to discuss the results.
Crescent describes itself as a differentiated U.S. energy company with a strategy centered on growth through acquisitions and consistent return of capital to shareholders. The company's portfolio combines stable cash flows from low-decline production with high-quality development inventory, aiming to deliver long-term value to investors.