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) has priced a public offering of 5,000,000 shares of Class A common stock at $15.00 per share. The offering, managed by major underwriters including Credit Suisse and Wells Fargo, will not generate proceeds for the Company as the shares are sold by a selling stockholder. There is also a 30-day option for underwriters to acquire an additional 750,000 shares. Concurrently, Crescent will purchase 2,233,727 units of its subsidiary at the offering price and cancel an equal number of Class B shares. The offering is expected to close on September 13, 2022.
Crescent Energy Company (NYSE: CRGY) has initiated an underwritten public offering of 5,000,000 shares of its Class A common stock, valued at $0.0001 per share. This offering is managed by Independence Energy Aggregator L.P. Credit Suisse, KKR Capital Markets, Wells Fargo, J.P. Morgan, BofA Securities, RBC Capital Markets, and Truist Securities act as joint book-running managers. The company will not receive any proceeds from this offering. Following this, Crescent intends to purchase 2,233,727 OpCo Units from PT Independence at the same price as the stock offering and cancel a corresponding number of Class B shares.
Crescent Energy Company (NYSE: CRGY) announced a cash dividend of $0.17 per share, reflecting its commitment to returning value to shareholders. In the second quarter of 2022, Crescent reported a robust production increase of 18% to 142 MBoe/d, primarily due to the Uinta acquisition. The company achieved net income of $282 million, a 92% increase in Adjusted EBITDAX to $373 million, and $137 million of Levered Free Cash Flow. Despite industry challenges, Crescent plans to maintain a quarterly dividend through 2022, emphasizing its strong financial position with a Net LTM Leverage ratio of 1.2x.
Crescent Energy Company (NYSE: CRGY) will host a conference call and webcast to discuss its Q2 2022 financial results on August 10, 2022, at 10 a.m. CT. The earnings release will be available after market close on August 9, 2022. Investors can access the webcast via the company's website. Crescent Energy focuses on energy asset investment and aims to deliver strong returns through its experienced leadership team, emphasizing predictable production and substantial cash flow.
Crescent Energy Company (NYSE: CRGY) announced a strong Q1 2022, producing 120 MBoe/d and achieving a 40% increase in quarterly cash dividend to $0.17 per share. Despite a $406 million net loss affected by $498 million in unrealized derivative losses, the company reported $195 million in Adjusted EBITDAX and $90 million in Levered Free Cash Flow. It closed a $690 million Uinta Basin acquisition, raising 2022 EBITDAX and Levered Free Cash Flow guidance by 17% and 35% respectively, due to improved commodity prices. The company aims to maintain strong free cash flow while advancing ESG initiatives.
Crescent Energy (NYSE: CRGY) has scheduled a conference call and webcast to discuss its first quarter 2022 financial results on May 11, 2022, at 10 a.m. CT. The earnings report will be released after market close on May 10, 2022. Investors can access the earnings release and presentation on the company's website. Crescent Energy is an independent energy company with significant assets across the U.S., focused on delivering strong returns through strategic investments and operational excellence.
Crescent Energy Company (NYSE: CRGY) has successfully closed its acquisition of Uinta Basin assets for approximately
Crescent Energy Company (NYSE: CRGY) has declared its fourth-quarter cash dividend of $0.12 per share, payable on March 31, 2022. For 2021, the company reported total revenues of $1,968 million and a net loss of $435 million. Following the Contango Merger, Crescent aims to acquire high-margin oil assets in the Uinta Basin for $815 million, enhancing its production and cash flow. The 2022 guidance anticipates adjusted EBITDAX of $1.1-$1.2 billion and a quarterly dividend increase to $0.17 post-acquisition.
Crescent Energy (CRGY) has announced a conference call and webcast scheduled for March 10, 2022, at 10 a.m. CT to discuss its full-year 2021 financial and operating results. The earnings release will be available on their website after market close on March 9, 2022. Investors can access the conference call by dialing 877-407-0989 (domestic) or 201-389-0921 (international). A replay of the webcast will also be accessible on their website following the event.
Crescent Energy (NYSE: CRGY) has announced an agreement to acquire Uinta Basin assets from Verdun Oil Company II LLC for
FAQ
What is the current stock price of Crescent Energy Company (CRGY)?
What is the market cap of Crescent Energy Company (CRGY)?
What does Crescent Energy Company do?
Where are Crescent Energy Company's key assets located?
Who leads Crescent Energy Company?
What is Crescent Energy Company's business model?
How does Crescent Energy ensure sustainable practices?
What recent achievements has Crescent Energy accomplished?
How does Crescent Energy handle risk management?
What is Crescent Energy's financial condition?
What is the main goal of Crescent Energy?
What sets Crescent Energy apart from other energy companies?
