Crescent Energy (NYSE: CRGY) expects $40M Q1 commodity hedge payouts

Rhea-AI Filing Summary

Crescent Energy Company expects to report approximately $40 million of total cash paid on its commodity derivative positions for the three months ended March 31, 2026. This reflects net cash paid of $101 million on derivative settlements, partially offset by $61 million from settlement of acquired derivative contracts. The company notes these preliminary dollar amounts are subject to change and constitute forward-looking statements, with final figures to appear in its Form 10-Q for the same period.

Insights

Energy credit analyst

Crescent flags about $40M Q1 cash outflow on commodity hedges, partly offset by acquired contracts.

Crescent Energy expects total cash paid of $40 million on commodity derivative positions for the quarter ended March 31, 2026. This combines net cash paid of $101 million on its own hedge settlements and $61 million of cash received from acquired derivative contracts.

The company indicates that settlements of certain oil, gas and NGL derivative contracts from the SilverBow and Vital mergers will be reported as positive adjustments on the Statements of Cash Flows and as additions to Adjusted EBITDAX. Total hedge settlements are also reflected in Adjusted EBITDAX, directly affecting this non-GAAP performance metric.

All figures are preliminary and described as forward-looking, with final quarterly amounts to be reported in the Form 10-Q for the period ended March 31, 2026. The disclosure focuses narrowly on hedge cash flows rather than broader operating results, so its standalone impact on an overall investment view is limited.

8-K Event Classification

Item 2.02 — Results of Operations and Financial Condition

1 item

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Key Figures

Total cash paid on commodity derivatives: $40 million Net cash paid on settlement of derivatives: $101 million Settlement of acquired derivative contracts: $61 million +1 more

4 metrics

Total cash paid on commodity derivatives $40 million Three months ended March 31, 2026; preliminary

Net cash paid on settlement of derivatives $101 million Three months ended March 31, 2026

Settlement of acquired derivative contracts $61 million Three months ended March 31, 2026

Excluded contingent earn-out settlement $15.0 million Ridgemar Acquisition earn-out settlement excluded from table

Key Terms

commodity derivative positions, Adjusted EBITDAX, contingent earn-out consideration, forward-looking statements, +1 more

5 terms

commodity derivative positions financial

"expects to report approximately $40 million of total cash paid on its commodity derivative positions"

Adjusted EBITDAX financial

"reported as positive adjustments on the Statements of Cash Flows and as additions to Adjusted EBITDAX"

Adjusted EBITDAX is a measure of a company’s operating profit that adds back interest, taxes, depreciation, amortization and specific recurring costs (often exploration or similar project expenses), then removes one‑time or unusual items to show recurring cash profitability. Investors use it like a clean yardstick—ignoring financing choices, accounting rules and one‑off events—to compare core performance across periods or peers and assess a business’s ability to generate cash from operations.

contingent earn-out consideration financial

"Excludes $15.0 million settlement of contingent earn-out consideration related to the Ridgemar Acquisition"

Contingent earn-out consideration is extra money a buyer may pay a seller after a deal closes only if the acquired business hits agreed future targets (for example sales, profits, or milestones). For investors it matters because it adjusts the effective price paid, shifts risk between buyer and seller, can change future cash flows and accounting, and creates incentives tied to the business’s performance — like receiving a bonus only if certain goals are met.

forward-looking statements regulatory

"Such amounts as disclosed herein constitute forward-looking statements within the meaning of Section 27A"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Emerging growth company regulatory

"Emerging growth company"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

Offering Details

earnings_snapshot

Offering

Offering Type earnings_snapshot

Understanding 8-K Material Events →

0001866175FALSE00018661752026-04-092026-04-09

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): April 9, 2026

Crescent Energy Company
(Exact Name of Registrant as Specified in its Charter)
Delaware			001-41132			87-1133610
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(I.R.S. Employer Identification No.)
600 Travis Street, Suite 7200 Houston, Texas						77002
(Address of Principal Executive Offices)						(Zip Code)
(713) 332-7001
Registrant’s Telephone Number, Including Area Code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Class A Common Stock, par value $0.0001 per share			CRGY			The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

Derivative Settlements

For the three months ended March 31, 2026, Crescent Energy Company (the “Company” or “Crescent”) expects to report approximately $40 million of total cash paid on its commodity derivative positions, composed of the following:

			Three Months Ended March 31, 2026 (1)
			(in millions)
Net cash (paid) received on settlement of derivatives			$	(101)
Settlement of acquired derivative contracts(2)			61
Total cash (paid) received(3)			$	(40)

The dollar amounts included in this Current Report on Form 8-K are preliminary and subject to change. Such amounts as disclosed herein constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements are based on current expectations but remain subject to a number of assumptions, risks and uncertainties. Consequently, actual final results could differ materially from current expectations. Final dollar amounts for the three months ended March 31, 2026 will be reported in Crescent’s Quarterly Report on Form 10-Q for the period ended March 31, 2026.

The information in this Item 2.02 shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and is not incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act.

(1)     Excludes $15.0 million settlement of contingent earn-out consideration related to the Ridgemar Acquisition.

(2)     Represents the settlement of certain oil, gas, and natural gas liquids derivative contracts acquired in connection with the SilverBow Merger and the Vital Merger. The Company expects to report these settlements as positive adjustments on the Statements of Cash Flows and as additions to Adjusted EBITDAX.

(3)     Represents total cash (paid) received from hedge settlements and is reflected in Adjusted EBITDAX.

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: April 9, 2026

CRESCENT ENERGY COMPANY

By:    /s/ Brandi Kendall    

Name:    Brandi Kendall

Title:    Chief Financial Officer

3

FAQ

What derivative cash settlements did Crescent Energy (CRGY) disclose for Q1 2026?

Crescent Energy expects about $40 million in total cash paid on commodity derivative positions for the quarter ended March 31, 2026. This combines net cash paid and cash received on acquired derivative contracts.

How is Crescent Energy’s $40 million derivative cash figure for March 31, 2026 constructed?

The company expects $101 million of net cash paid on derivative settlements, offset by $61 million from settlement of acquired derivative contracts. Together, these components yield approximately $40 million of total cash paid on commodity derivative positions.

Will Crescent Energy’s Q1 2026 derivative settlement amounts change later?

The derivative settlement amounts are preliminary and subject to change. Crescent states these dollar figures are forward-looking, and final results for the three months ended March 31, 2026 will be provided in its Quarterly Report on Form 10-Q.

How will Crescent Energy treat acquired derivative contract settlements in its financial metrics?

Settlements of acquired oil, gas and NGL derivative contracts are expected to be reported as positive adjustments on the Statements of Cash Flows and as additions to Adjusted EBITDAX, affecting both cash flow presentation and this non-GAAP performance measure.

Does Crescent Energy’s Item 2.02 disclosure count as filed financial statements?

The company specifies the Item 2.02 information is not deemed filed for purposes of Section 18 of the Exchange Act and is not incorporated by reference into Securities Act or Exchange Act filings, limiting its legal status.

Filing Exhibits & Attachments

3 documents

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• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 22.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.8 KB