Businesswire·2025-12-15 13:50Core Viewpoint - Crescent Energy Company has successfully completed the acquisition of Vital Energy, enhancing its position as a leading independent exploration and production (E&P) company focused on free cash flow generation and long-term shareholder value creation [1][2]. Group 1: Acquisition Details - The acquisition of Vital Energy is an all-stock transaction that positions Crescent among the top ten liquids-weighted independents in the industry [1]. - Crescent plans to provide pro forma guidance for 2026 alongside its fourth-quarter and full-year 2025 results [1]. Group 2: Strategic Focus - The CEO of Crescent Energy stated that the merger significantly improves the company's free cash flow profile, operational scale, and growth opportunities [2]. - Crescent has nearly tripled its business size over the past four years through disciplined investing and operations [2]. Group 3: Governance Changes - Following the acquisition, William Albrecht and Jarvis Hollingsworth, former directors of Vital Energy, have joined Crescent's Board of Directors, while Michael Duginski has resigned [3]. - The Board now consists of twelve directors, with ten being independent, enhancing the company's governance structure [3]. Group 4: Company Overview - Crescent Energy is committed to delivering shareholder value through a disciplined growth strategy focused on acquisitions and consistent capital returns [4]. - The company's operations are concentrated in the Eagle Ford, Permian, and Uinta basins, with a balanced portfolio that includes stable production and high-quality development inventory [4].