Crescent Energy Company Stock Price, News & Analysis

Crescent Energy Company (NYSE: CRGY) announced a private placement offering of $400 million in Senior Notes due 2028, subject to market conditions. The offering will be conducted through its subsidiary Crescent Energy Finance LLC, targeting eligible institutional buyers. Proceeds from the sale will be used to reduce outstanding amounts under its revolving credit facility. The Notes are not registered under the Securities Act, limiting their sale in the U.S. This offering aligns with the company’s strategy to optimize its financial structure while navigating ongoing market and economic challenges.

Crescent Energy Company (NYSE: CRGY) will participate in the BofA Leveraged Finance Conference on November 29, 2022, in Boca Raton, Florida. The associated slide presentation will be accessible on the Company's website at crescentenergyco.com. Crescent is a U.S. independent energy firm with a diverse asset portfolio across the lower 48 states, emphasizing cash flow and production. The experienced leadership team focuses on investing in energy assets for enhanced returns and operational efficiency.

Crescent Energy Company (NYSE: CRGY) will participate in the BofA Global Energy Conference in Miami, Florida on November 17, 2022. The slide presentation will be accessible on their website. Crescent is a financially robust U.S. independent energy company, with assets in key basins nationwide and strong cash flow from predictable production. The leadership team has been executing strategic management since 2011, focusing on enhancing returns and stewardship in energy asset investments.

Crescent Energy Company (NYSE: CRGY) announced a quarterly cash dividend of $0.17 per share and reported strong third quarter 2022 results. Production reached 150 MBoe/d, a 6% increase from the previous quarter. The company recorded $555 million in net income and $359 million in Adjusted EBITDAX. Capital investments amounted to $190 million. Crescent reaffirmed its full-year guidance while managing costs effectively, despite inflationary pressures. The company is approximately 60% hedged for the remainder of the year, ensuring stable returns.

Crescent Energy Company (NYSE: CRGY) will hold a conference call and webcast at 10 a.m. CT on November 10, 2022, to discuss its third quarter 2022 financial and operating results. The earnings release will be available after market close on November 9, 2022. Investors can access the results and presentation on the company's website. The company emphasizes its strong assets and cash flow.

Crescent Energy Company (NYSE: CRGY) announced significant amendments to its revolving credit facility, effective September 23, 2022. The borrowing base was increased by 11% to $2.0 billion, and the credit facility's term was extended by 28 months, now maturing in September 2027. Total liquidity as of August 31, 2022 reached over $600 million. The recent public equity offerings raised $86 million, increasing the public equity float by 15% and showcasing strong market confidence.

Crescent Energy Company (NYSE: CRGY) has priced a public offering of 5,000,000 shares of Class A common stock at $15.00 per share. The offering, managed by major underwriters including Credit Suisse and Wells Fargo, will not generate proceeds for the Company as the shares are sold by a selling stockholder. There is also a 30-day option for underwriters to acquire an additional 750,000 shares. Concurrently, Crescent will purchase 2,233,727 units of its subsidiary at the offering price and cancel an equal number of Class B shares. The offering is expected to close on September 13, 2022.

Crescent Energy Company (NYSE: CRGY) has initiated an underwritten public offering of 5,000,000 shares of its Class A common stock, valued at $0.0001 per share. This offering is managed by Independence Energy Aggregator L.P. Credit Suisse, KKR Capital Markets, Wells Fargo, J.P. Morgan, BofA Securities, RBC Capital Markets, and Truist Securities act as joint book-running managers. The company will not receive any proceeds from this offering. Following this, Crescent intends to purchase 2,233,727 OpCo Units from PT Independence at the same price as the stock offering and cancel a corresponding number of Class B shares.