Crescent Energy Company Stock Price, News & Analysis

Crescent Energy Company (NYSE: CRGY) will host a conference call and webcast to discuss its Q2 2022 financial results on August 10, 2022, at 10 a.m. CT. The earnings release will be available after market close on August 9, 2022. Investors can access the webcast via the company's website. Crescent Energy focuses on energy asset investment and aims to deliver strong returns through its experienced leadership team, emphasizing predictable production and substantial cash flow.

Crescent Energy Company (NYSE: CRGY) announced a strong Q1 2022, producing 120 MBoe/d and achieving a 40% increase in quarterly cash dividend to $0.17 per share. Despite a $406 million net loss affected by $498 million in unrealized derivative losses, the company reported $195 million in Adjusted EBITDAX and $90 million in Levered Free Cash Flow. It closed a $690 million Uinta Basin acquisition, raising 2022 EBITDAX and Levered Free Cash Flow guidance by 17% and 35% respectively, due to improved commodity prices. The company aims to maintain strong free cash flow while advancing ESG initiatives.

Crescent Energy (NYSE: CRGY) has scheduled a conference call and webcast to discuss its first quarter 2022 financial results on May 11, 2022, at 10 a.m. CT. The earnings report will be released after market close on May 10, 2022. Investors can access the earnings release and presentation on the company's website. Crescent Energy is an independent energy company with significant assets across the U.S., focused on delivering strong returns through strategic investments and operational excellence.

Crescent Energy Company (NYSE: CRGY) has successfully closed its acquisition of Uinta Basin assets for approximately $690 million. This transaction enhances Crescent's portfolio with an additional 30 MBoe/d of production, predominantly oil, and expands its operational footprint by 145,000 contiguous acres. The company maintains strong financial flexibility, evidenced by an increased borrowing base of $1.8 billion following the closure. Pro forma year-end 2021 proved reserves now stand at 598 MMBoe with a PV-10 of $6.2 billion.

Crescent Energy Company (NYSE: CRGY) has declared its fourth-quarter cash dividend of $0.12 per share, payable on March 31, 2022. For 2021, the company reported total revenues of $1,968 million and a net loss of $435 million. Following the Contango Merger, Crescent aims to acquire high-margin oil assets in the Uinta Basin for $815 million, enhancing its production and cash flow. The 2022 guidance anticipates adjusted EBITDAX of $1.1-$1.2 billion and a quarterly dividend increase to $0.17 post-acquisition.

Crescent Energy (CRGY) has announced a conference call and webcast scheduled for March 10, 2022, at 10 a.m. CT to discuss its full-year 2021 financial and operating results. The earnings release will be available on their website after market close on March 9, 2022. Investors can access the conference call by dialing 877-407-0989 (domestic) or 201-389-0921 (international). A replay of the webcast will also be accessible on their website following the event.

Crescent Energy (NYSE: CRGY) has announced an agreement to acquire Uinta Basin assets from Verdun Oil Company II LLC for $815 million. The all-cash transaction is set to close in H1 2022, enhancing Crescent's production in the Rockies and adding proven, high-return development locations. Key metrics show an expected 55% increase in annualized cash flow per share and a pro forma net debt to LTM adjusted EBITDAX ratio of 1.4x. The acquisition aligns with Crescent's strategy to maintain financial strength while expanding its operational scale.

Crescent Energy Company (NYSE: CRGY) has joined the Oil & Gas Methane Partnership (OGMP) 2.0 Initiative to improve its methane emissions reporting. This initiative, backed by the UN Environment Programme, sets a standard for measuring and reducing methane emissions in the industry. CEO David Rockecharlie emphasized the importance of accurate data for managing emissions. The company recently formed an ESG Advisory Council and released its inaugural ESG report, reinforcing its commitment to environmental, social, and governance (ESG) standards.

Crescent Energy Company (NYSE: CRGY) announced a private placement of $200 million in 7.250% Senior Notes due 2026, increasing from a previously announced $150 million. The offering is set to close on February 10, 2022, and proceeds will be used to repay part of its revolving credit facility. The Notes will pay interest bi-annually, starting May 1, 2022, and are offered to eligible institutional buyers under Rule 144A and Regulation S of the Securities Act. The Notes will be treated as a single class with existing notes issued in May 2021.