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 leading independent energy company managing a diversified portfolio of oil and gas assets across key U.S. basins. This page serves as a comprehensive resource for all CRGY-related news, offering investors and industry professionals timely updates on company developments.
Access the latest press releases, earnings reports, and strategic announcements in one centralized location. Our curated collection ensures you stay informed about CRGY's operational milestones, partnership agreements, and financial performance while maintaining a clear view of their disciplined investment approach.
Key updates include quarterly results analysis, asset acquisition details, leadership changes, and operational efficiency initiatives. The content reflects CRGY's focus on cash flow generation, portfolio diversification, and risk management across market cycles.
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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
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.
Crescent Energy Company (NYSE: CRGY) announced a private placement of $150 million in 7.250% Senior Notes due 2026. The offering, conducted by its subsidiary Crescent Energy Finance LLC, aims to refinance a portion of its revolving credit facility. These new notes will have similar terms to existing 7.250% Senior Notes issued in May 2021. The notes are not registered under the Securities Act and will be sold to qualified institutional buyers. Notably, the company continues to navigate uncertain market conditions, impacting its financial strategies.
Crescent Energy Company (NYSE: CRGY) reported year-end 2021 proved reserves of 532 million barrels of oil equivalent (MMBoe), valued at approximately $5.2 billion SEC PV-10. For 2022, the company anticipates $800-$850 million in Adjusted EBITDAX and $325-$375 million in levered free cash flow based on a $75 per barrel oil price. Organic capital investment is expected to range from $375-$425 million, predominantly in the Eagle Ford region. The company plans to return an estimated $80-$85 million to shareholders through dividends, implying a quarterly payout of $0.12 per share.
Crescent Energy Company (NYSE: CRGY) announced its pro forma financial results for the nine months ended September 30, 2021, following its merger with Independence Energy and Contango Oil & Gas. The company reported annualized production of 115 MBoe/d and total revenues of $1.25 billion, despite a net loss of $678 million due to significant unrealized derivative losses. Crescent emphasizes a disciplined capital expenditure program, achieving $286 million in levered free cash flow. Looking ahead, Crescent plans to initiate quarterly dividends based on adjusted EBITDAX and release annual guidance early 2022.
Crescent Energy Company (NYSE: CRGY) has successfully completed the merger with Independence Energy LLC and Contango Oil & Gas Company, leading to the establishment of a diversified energy entity. Trading under the symbol CRGY commenced on December 8, 2021. The transaction allows for a share exchange at 0.2000 shares of Crescent Class A Common Stock for each eligible share of Contango. With a pro forma production of approximately 119 MBoe/d in Q2 2021, Crescent aims for cash flow stability, risk management, and growth through low-risk asset acquisition.
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