Welcome to our dedicated page for Crescent Energy news (Ticker: CRGY), a resource for investors and traders seeking the latest updates and insights on Crescent Energy stock.
Crescent Energy Company issues news about its U.S. exploration and production business, including crude oil, natural gas and NGL operations and minerals and royalty interests. The company operates in one reportable segment, with activity focused in the Eagle Ford, Permian and Uinta basins and a strategy that includes acquisitions, development inventory and return-of-capital disclosures.
Recurring updates include quarterly and annual financial results, conference-call announcements, operating outlooks, production and development commentary, commodity derivative settlements, acquisition-related portfolio updates, and capital-structure actions such as convertible senior notes, debt exchanges and consent solicitations.
Perficient (NASD:PRFT) will be removed from the S&P SmallCap 600 and Crescent Energy (NYSE:CRGY) will be added effective prior to the open on October 4, 2024. The change reflects an index reconstitution: Crescent Energy is added to the SmallCap 600 and Perficient is deleted.
EQT Group is reported to be acquiring Perficient, with the transaction expected to close pending final conditions.
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.
Crescent Energy Company (NYSE: CRGY) has closed its acquisition of SilverBow Resources, creating the second largest operator in the Eagle Ford. The transaction closed ahead of schedule, with $35 million of the projected $65-$100 million annual synergies already captured. Crescent issued approximately 52 million shares of Class A common stock and paid $358 million in cash as part of the deal. Former SilverBow shareholders now own about 23% of the combined company. The merger positions Crescent as a leading mid-cap E&P company with a balanced portfolio and substantial free cash flow generation. Crescent will report Q2 2024 results and provide pro forma guidance on August 5, followed by a conference call on August 6.
Crescent Energy Company (NYSE: CRGY) has received overwhelming stockholder approval for its proposed merger with SilverBow Resources Inc. (NYSE: SBOW). At a special meeting, approximately 99.94% of the Crescent common stock voted were in favor of the Merger, representing about 87.94% of the outstanding Crescent common stock. The merger is expected to close on July 30, 2024.
CEO David Rockecharlie highlighted that this decisive vote demonstrates strong support for the complementary transaction, which will create one of the largest operators in the Eagle Ford. The combined entity will feature high-quality, long-life assets, an attractive returns-driven financial framework, and a strong balance sheet. It will be led by a management team and Board with significant operating and investing expertise.
Crescent Energy (NYSE: CRGY) and SilverBow Resources (NYSE: SBOW) have announced preliminary results for the election of merger consideration in their pending acquisition. Based on available information as of July 24, 2024:
- 44.95% (11,479,832 shares) elected to receive Stock Election Consideration
- 30.40% (7,764,646 shares) chose Mixed Election Consideration
- 24.65% (6,295,137 shares) opted for Cash Election Consideration
The estimated cash payout to SilverBow stockholders is approximately $358,091,936, below the $400,000,000 maximum set in the Merger Agreement. Final results and merger consideration allocation will be determined shortly before closing. The transaction is subject to the terms outlined in the Merger Agreement and Proxy Statement/Prospectus.
Crescent Energy Company (NYSE: CRGY) has announced its plans to release second quarter 2024 financial and operating results. The company will host a conference call and webcast on Tuesday, August 6, 2024, at 10 a.m. CT to discuss these results. The earnings release and supplemental slides will be made available on the company's website after market close on Monday, August 5, 2024.
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. Following the call, a webcast replay will be accessible on the same website.
Crescent Energy and SilverBow Resources have announced the election deadline for SilverBow stockholders to choose their preferred form of merger consideration in the pending acquisition. The deadline is set for 5:00 p.m. Central Time on July 24, 2024, with an expected transaction closing on July 30, 2024. SilverBow shareholders can elect to receive either 3.125 shares of Crescent Class A common stock, $15.31 in cash and 1.866 shares of Crescent Class A common stock, or $38.00 in cash per SilverBow share, subject to a $400 million cap on total cash consideration. Stockholders must submit a properly completed Election Form to Equiniti Trust Company by the deadline. Those who don't make an election will receive 3.125 Crescent shares per SilverBow share by default.
Crescent Energy (NYSE: CRGY) and SilverBow Resources (NYSE: SBOW) have announced the expiration of the Hart-Scott-Rodino Act waiting period, a key step for Crescent's acquisition of SilverBow.
This milestone moves the transaction closer to completion, pending stockholder approvals scheduled for July 29, 2024. The deal will create a mid-cap exploration and production company with a balanced asset portfolio in the Eagle Ford region.
The transaction details are outlined in a joint proxy statement/prospectus filed with the SEC on June 28, 2024. The transaction is expected to finalize shortly after stockholder approval.