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 (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
Crescent Energy Company (NYSE: CRGY) has joined the Oil & Gas Methane Partnership (OGMP) 2.0 Initiative to improve its methane emissions reporting. This initiative, backed by the UN Environment Programme, sets a standard for measuring and reducing methane emissions in the industry. CEO David Rockecharlie emphasized the importance of accurate data for managing emissions. The company recently formed an ESG Advisory Council and released its inaugural ESG report, reinforcing its commitment to environmental, social, and governance (ESG) standards.
Crescent Energy Company (NYSE: CRGY) announced a private placement of $200 million in 7.250% Senior Notes due 2026, increasing from a previously announced $150 million. The offering is set to close on February 10, 2022, and proceeds will be used to repay part of its revolving credit facility. The Notes will pay interest bi-annually, starting May 1, 2022, and are offered to eligible institutional buyers under Rule 144A and Regulation S of the Securities Act. The Notes will be treated as a single class with existing notes issued in May 2021.
Crescent Energy Company (NYSE: CRGY) announced a private placement of $150 million in 7.250% Senior Notes due 2026. The offering, conducted by its subsidiary Crescent Energy Finance LLC, aims to refinance a portion of its revolving credit facility. These new notes will have similar terms to existing 7.250% Senior Notes issued in May 2021. The notes are not registered under the Securities Act and will be sold to qualified institutional buyers. Notably, the company continues to navigate uncertain market conditions, impacting its financial strategies.
Crescent Energy Company (NYSE: CRGY) reported year-end 2021 proved reserves of 532 million barrels of oil equivalent (MMBoe), valued at approximately $5.2 billion SEC PV-10. For 2022, the company anticipates $800-$850 million in Adjusted EBITDAX and $325-$375 million in levered free cash flow based on a $75 per barrel oil price. Organic capital investment is expected to range from $375-$425 million, predominantly in the Eagle Ford region. The company plans to return an estimated $80-$85 million to shareholders through dividends, implying a quarterly payout of $0.12 per share.
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