Crescent Energy (NYSE: CRGY) expects $165M 2025 hedge cash inflow

Rhea-AI Filing Summary

Crescent Energy Company disclosed preliminary hedge results for the three and twelve months ended December 31, 2025. The company expects to receive about $84 million of total cash from hedge settlements for the quarter and about $165 million for the full year.

These amounts combine net cash received on settlement of derivatives of $50 million for the quarter and $82 million for the year with cash from settlement of acquired derivative contracts of $34 million and $83 million, respectively. The settlements from oil, gas and natural gas liquids contracts acquired in the SilverBow and Vital mergers are expected to be shown as positive adjustments on the Statements of Cash Flows and as additions to Adjusted EBITDAX. All figures are preliminary, forward-looking and may change when final results are reported in the upcoming Form 10‑K.

Insights

Energy sector financial analyst

Preliminary hedge settlements add sizable cash and Adjusted EBITDAX support.

Crescent Energy outlines meaningful cash inflows from commodity hedges for the three and twelve months ended December 31, 2025. Total cash from hedge settlements is expected at $84 million for the quarter and $165 million for the year, combining ongoing derivative settlements with contracts acquired via the SilverBow and Vital mergers.

The breakdown shows net cash received on settlement of derivatives of $50 million for the quarter and $82 million for the year, plus settlement of acquired derivative contracts of $34 million and $83 million, respectively. The company states these acquired hedge settlements will be recorded as positive adjustments on the Statements of Cash Flows and as additions to Adjusted EBITDAX, which can bolster reported operating performance metrics.

All amounts are described as preliminary and as forward‑looking statements, with final figures to appear in the Form 10‑K for the year ended December 31, 2025. The ultimate significance of these hedge cash flows will depend on the full financial statements and how they compare to production volumes, realized prices and overall profitability once that report is available.

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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): January 12, 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.

Hedge Settlements

For the three and twelve months ended December 31, 2025, Crescent Energy Company (the “Company” or “Crescent”) expects to report approximately $84 million and $165 million, respectively, of total cash received from its hedge positions, composed of the following:

			Three Months Ended December 31, 2025						Year Ended December 31, 2025
			(in millions)
Net cash (paid) received on settlement of derivatives			$	50					$	82
Settlement of acquired derivative contracts(1)			34						83
Total cash (paid) received(2)			$	84					$	165

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 and twelve months ended December 31, 2025 will be reported in Crescent’s Annual Report on Form 10-K for the year ended December 31, 2025.

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)     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.

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

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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: January 12, 2026

CRESCENT ENERGY COMPANY

By:    /s/ Brandi Kendall    

Name:    Brandi Kendall

Title:    Chief Financial Officer

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FAQ

What did Crescent Energy Company (CRGY) disclose in this 8-K?

Crescent Energy Company provided preliminary figures for cash received from hedge settlements for the three and twelve months ended December 31, 2025, including how these amounts will be reflected in cash flow and Adjusted EBITDAX.

How much cash does Crescent Energy expect to receive from hedge settlements for Q4 2025?

For the three months ended December 31, 2025, Crescent Energy expects total cash received from hedge settlements of about $84 million, including $50 million of net cash received on settlement of derivatives and $34 million from settlement of acquired derivative contracts.

What is the expected full-year 2025 hedge cash impact for Crescent Energy (CRGY)?

For the year ended December 31, 2025, Crescent Energy expects approximately $165 million of total cash received from hedge settlements, made up of $82 million of net cash received on settlement of derivatives and $83 million from settlement of acquired derivative contracts.

How will the SilverBow and Vital merger hedge contracts be reported by Crescent Energy?

Crescent Energy states that settlements of certain oil, gas and natural gas liquids derivative contracts acquired in the SilverBow and Vital mergers will be reported as positive adjustments on the Statements of Cash Flows and as additions to Adjusted EBITDAX.

Are Crescent Energy’s disclosed hedge settlement amounts final?

No. The company notes the dollar amounts for the three and twelve months ended December 31, 2025 are preliminary, constitute forward-looking statements and are subject to change, with final figures to be reported in its Form 10‑K.

Does this Crescent Energy 8-K include full 2025 financial results?

No. The disclosure focuses on expected cash received from hedge settlements. Crescent Energy states that final dollar amounts for the period will be reported in its Annual Report on Form 10‑K for the year ended December 31, 2025.