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 New York Stock Exchange Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): March 19, 2024 Houston, Texas 77002 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, including Area Code: (713) 337-4600 ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR ...

HOUSTON--(BUSINESS WIRE)--Crescent Energy Finance LLC (“CE Finance”), a wholly owned subsidiary of Crescent Energy Company (“Crescent”) announced today that it has commenced a cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding senior notes (the “Notes”) listed in the following table upon the terms and conditions described in CE Finance’s Offer to Purchase, dated March 19, 2024 (the “Offer to Purchase”). Issuer (1) Title of Security CUSIP Number Principal Amount ...

HOUSTON--(BUSINESS WIRE)--Crescent Energy Company (NYSE: CRGY) (“we” or “our”) announced today that, subject to market conditions, its indirect subsidiary Crescent Energy Finance LLC (the “Issuer”) intends to offer for sale in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), to eligible purchasers $700 million aggregate principal amount of Senior Notes due 2032 (the “Notes”). The Notes will be guaranteed on a senior unsecured bas ...

HOUSTON--(BUSINESS WIRE)--Crescent Energy Company (“Crescent” or the “Company”) (NYSE: CRGY) today announced the pricing of an underwritten public offering of 12,000,000 shares of its Class A common stock, par value $0.0001 per share (“common stock”), at a price to the public of $10.50 per share, pursuant to a registration statement on Form S-3 (the “Registration Statement”) filed on March 6, 2024 with the U.S. Securities and Exchange Commission (the “SEC”). The common stock is being offered by Independence ...

HOUSTON--(BUSINESS WIRE)--Crescent Energy Company (“Crescent” or the “Company”) (NYSE: CRGY) today announced the commencement of an underwritten public offering of 12,000,000 shares of its Class A common stock, par value $0.0001 per share (“common stock”). The common stock is being offered by Independence Energy Aggregator L.P. (the “Selling Stockholder”), the direct owner of the shares being offered and the entity through which certain unaffiliated limited partners and affiliated entities hold their intere ...

bjdlzx Crescent Energy (NYSE:CRGY) beat a lot of consensus forecasts with the current earnings report. At first, the market was pointing to things like hedging gains and other things that are not really valued. But coming right behind that is some solid operational gains mentioned in the conference call. The only thing the operational gains need is enough new wells for those effects to become material to the quarterly reporting. Since the unconventional business has a sharp first year decline rate, that mat ...

Financial Performance and Key Metrics - The company delivered strong financial performance in 2023, raising guidance midyear and exceeding increased expectations, particularly in production, capital expenditures (CapEx), and free cash flow [2][21][37] - The company reported an average production of approximately 165,000 barrels of oil equivalent per day, generating $276 million of adjusted EBITDA and $102 million of levered free cash flow in the fourth quarter [37][38] - Capital expenditures for the fourth quarter were $134 million, positioning the company well for 2024 [16] Business Line Performance - The company executed two accretive acquisitions in the Western Eagle Ford, totaling $850 million, which significantly increased production and reserves [8][17] - The company achieved a 60% increase in well performance with 15% lower costs since taking over operations in September [11][12] - The company expects production growth of 6% in 2024, with a target of 155,000 to 160,000 barrels of oil equivalents per day [17] Market Data and Key Metrics - The company has layered on additional hedges to protect against gas market volatility, with approximately 50% of production hedged [20] - The company has significantly improved its trading liquidity, nearly doubling its public float, which enhances market presence [7][19] Company Strategy and Industry Competition - The company is focused on a growth-through-acquisition strategy, targeting assets that fit its portfolio at attractive valuations [9][33] - The company aims to become an investment-grade company over time, emphasizing financial discipline and shareholder value [13] - The company is committed to a peer-leading return of capital strategy, transitioning to a fixed quarterly dividend and authorizing up to $150 million for share buybacks [18][19] Management Commentary on Operating Environment and Future Outlook - Management expressed optimism about 2024, highlighting strong free cash flow generation and operational efficiencies [25][36] - The company is focused on maintaining a steady business model, avoiding production growth through aggressive drilling, and instead prioritizing returns [45][61] - Management noted a 27% reduction in scope one greenhouse gas emissions and received a Gold Standard pathway rating for methane emissions [14][26] Other Important Information - The company has a robust pipeline of M&A opportunities, positioning it well for operational value creation and growth [33][39] - The company is committed to environmental stewardship, with significant improvements in emissions measurement and reduction [15][35] Q&A Session Summary Question: How does the company view capital allocation with respect to opportunistic buybacks and M&A? - Management stated that capital allocation priorities remain unchanged, focusing on dividends and balance sheet strength while pursuing return-generating opportunities [55] Question: What operational synergies have been observed post-acquisition? - Management highlighted improvements in drilling and completion efficiencies, with faster drilling and better completion techniques leading to enhanced performance [56][57] Question: What is the outlook for production growth in the Uinta Basin? - Management expressed confidence in continued production growth in the Uinta Basin, driven by improved operational techniques and a focus on capital allocation [80][82]

Disclaimer Strong Financial Performance • Consistent "beat and raise" • Every metric meeting or exceeding increased guidance (1) PV-10 is a non-GAAP measure. For a reconciliation to the comparable GAAP measure, see Appendix. Based on YE'23 reserves at YE'23 SEC pricing of $78.22 / bbl for oil and $2.64 / MMbtu for gas. (2) Quarterly cash dividend declared on March 4 is payable on March 28, 2024, to holders of record on March 15, 2024. Any payment of future dividends is subject to board approval and other fa ...

Crescent Energy (CRGY) reported $657.73 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 4%. EPS of $0.58 for the same period compares to $1.51 a year ago.The reported revenue represents a surprise of +12.60% over the Zacks Consensus Estimate of $584.12 million. With the consensus EPS estimate being $0.21, the EPS surprise was +176.19%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wa ...

HOUSTON--(BUSINESS WIRE)--Crescent Energy Company (NYSE: CRGY) (“Crescent” or the “Company”) today announced its fourth quarter and full year 2023 financial and operating results, as well as its 2024 capital budget and production outlook. Crescent’s earnings release and supplemental earnings presentation can be accessed via the Investor Relations section of Crescent’s website at https://ir.crescentenergyco.com. The Company’s fourth quarter and full year 2023 conference call is planned for 10 a.m. CT (11 a. ...