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 (CRGY) is a diversified, well-capitalized U.S. independent energy company with a robust portfolio of assets in key proven basins across the lower 48 states. The company’s mission is to invest in energy assets and deliver superior returns, efficient operations, and responsible stewardship.
Crescent Energy operates with a strategic focus on achieving attractive risk-adjusted investment returns and predictable cash flows across market cycles. The company primarily emphasizes operated oil and gas assets, which are complemented by non-operated assets, mineral and royalty interests, and midstream infrastructure. This approach ensures a balanced and resilient asset base.
The core leadership team at Crescent Energy consists of experienced professionals from investment, financial, and industry backgrounds. This team has consistently executed a successful strategy since 2011, leveraging their expertise to drive value creation and sustainable growth.
Some of the key basins where Crescent Energy holds assets include the Eagle Ford, Rockies, Barnett, Permian, and Mid-Con. These regions are known for their prolific production and stable output, contributing significantly to the company’s overall performance.
Crescent Energy employs a differentiated business model that combines an investor mindset with deep operational expertise. This model allows the company to invest capital with discipline, focusing on cash flow generation and the acquisition and development of low-risk energy assets. The company's financial condition is solid, supported by a disciplined investment strategy and a focus on maintaining a strong balance sheet.
The company is also committed to environmental, social, and governance (ESG) principles. It actively engages in responsible practices that ensure long-term sustainability and positive community impact.
Recent Achievements and Projects:
- Successful acquisitions and development projects in key basins, enhancing production capacity and asset value.
- Consistent delivery of predictable cash flows, reflecting the strength of the company's operational and financial strategies.
- Ongoing investment in midstream infrastructure, supporting efficient and cost-effective production and transportation of resources.
Overall, Crescent Energy Company stands out as a leader in the independent energy sector, known for its disciplined investment approach, operational excellence, and commitment to ESG principles.
Crescent Energy Company (NYSE: CRGY) announced strong financial results for 2022, reporting $481 million in net income and $582 million in Adjusted Net Income. The company generated $1.2 billion in Adjusted EBITDAX and declared a quarterly dividend of $0.17 per share. Fourth quarter production averaged 139 MBoe/d, with operating cash flow of $215 million. Crescent reduced net debt by $300 million and maintained a low leverage ratio of 1.0x. The company plans capital investments between $575 million and $650 million in 2023, focusing on generating significant free cash flow while returning capital to shareholders.
Crescent Energy Company (NYSE: CRGY) announced a conference call scheduled for March 8, 2023, at 10 a.m. CT, to discuss its fourth quarter and full year 2022 financial results, along with its outlook for 2023. The financial results will be released after market close on March 7, 2023. Interested parties can access the call via a dial-in or webcast on the company’s website. Crescent Energy, an independent energy firm, operates in the lower 48 states and is focused on generating substantial cash flow from its production assets. More details are available at ir.crescentenergyco.com.
Crescent Energy Company (NYSE: CRGY) announced a private placement of $400 million in 9.250% Senior Notes due February 15, 2028. The notes, priced at par, will have interest payable semi-annually on February 15 and August 15, with the first payment occurring on August 15, 2023. Proceeds are intended to reduce outstanding amounts under its revolving credit facility. The offering is set to close on February 1, 2023, pending customary conditions. The notes are offered only to qualified institutional buyers and are not registered under the Securities Act. Forward-looking statements indicate potential risks, including market conditions and regulatory changes.
Crescent Energy Company (NYSE: CRGY) announced a private placement offering of $400 million in Senior Notes due 2028, subject to market conditions. The offering will be conducted through its subsidiary Crescent Energy Finance LLC, targeting eligible institutional buyers. Proceeds from the sale will be used to reduce outstanding amounts under its revolving credit facility. The Notes are not registered under the Securities Act, limiting their sale in the U.S. This offering aligns with the company’s strategy to optimize its financial structure while navigating ongoing market and economic challenges.
Crescent Energy Company (NYSE: CRGY) will participate in the BofA Leveraged Finance Conference on November 29, 2022, in Boca Raton, Florida. The associated slide presentation will be accessible on the Company's website at crescentenergyco.com. Crescent is a U.S. independent energy firm with a diverse asset portfolio across the lower 48 states, emphasizing cash flow and production. The experienced leadership team focuses on investing in energy assets for enhanced returns and operational efficiency.
Crescent Energy Company (NYSE: CRGY) will participate in the BofA Global Energy Conference in Miami, Florida on November 17, 2022. The slide presentation will be accessible on their website. Crescent is a financially robust U.S. independent energy company, with assets in key basins nationwide and strong cash flow from predictable production. The leadership team has been executing strategic management since 2011, focusing on enhancing returns and stewardship in energy asset investments.
Crescent Energy Company (NYSE: CRGY) announced a quarterly cash dividend of $0.17 per share and reported strong third quarter 2022 results. Production reached 150 MBoe/d, a 6% increase from the previous quarter. The company recorded $555 million in net income and $359 million in Adjusted EBITDAX. Capital investments amounted to $190 million. Crescent reaffirmed its full-year guidance while managing costs effectively, despite inflationary pressures. The company is approximately 60% hedged for the remainder of the year, ensuring stable returns.
Crescent Energy Company (NYSE: CRGY) will hold a conference call and webcast at 10 a.m. CT on November 10, 2022, to discuss its third quarter 2022 financial and operating results. The earnings release will be available after market close on November 9, 2022. Investors can access the results and presentation on the company's website. The company emphasizes its strong assets and cash flow.
Crescent Energy Company (NYSE: CRGY) announced significant amendments to its revolving credit facility, effective
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