Nov 2, 4:37 PM ET
Crescent Energy reported third quarter 2026 revenue of $1.35 billion, up from $866.6 million a year earlier, and a net loss attributable to the company of $2.2 million, or $0.01 per share, compared with a $9.5 million loss, or $0.04 per share, in the third quarter of 2025. The company also announced an estimated $3.85 billion all-cash acquisition of Eagle Ford assets from Devon Energy, expected to close in the fourth quarter of 2026 or early 2027, subject to closing conditions.
- Total revenues were $1,351.2 million for the quarter, compared with $866.6 million in the third quarter of 2025.
- Net loss attributable to Crescent was $2.2 million, or $0.01 per share, versus $9.5 million, or $0.04 per share, a year earlier.
- Adjusted EBITDAX was $785.8 million and Levered Free Cash Flow was $366.7 million for the quarter.
- Crescent declared a quarterly dividend of $0.12 per share, payable November 30, 2026, and had about $336 million remaining under its share repurchase program as of September 30, 2026.
Read the filing on SEC.gov ↗
Oct 15, 4:30 PM ET
On October 14, 2026, Crescent Energy Finance LLC signed a sixteenth amendment to its credit agreement that permits the previously announced acquisition of Eagle Ford assets from a Devon Energy subsidiary and allows up to $2.0 billion of unsecured bridge debt to help fund part of the cash price. The company also said it expects cash paid on commodity derivatives of $144 million for the third quarter and $383 million for the first nine months of 2026, both preliminary. The filing does not state the acquisition price, so shareholders can't yet gauge the deal's scale relative to the new debt.
- Sixteenth Amendment dated October 14, 2026 permits the Devon EF Assets Acquisition from Devon Energy Production Company, L.P.
- Permits an up to $2.0 billion 364-day unsecured bridge credit facility to fund part of the cash consideration.
- Permits additional pari passu secured term loan debt, capped at the lesser of a borrowing base formula and 50.0% of total elected commitments plus permitted pari passu debt.
- Expected cash paid on commodity derivatives: $144 million for Q3 2026 and $383 million for nine months ended September 30, 2026.
Read the filing on SEC.gov ↗
Oct 8, 7:08 AM ET
Crescent Energy agreed on October 8, 2026 to acquire certain Eagle Ford assets from a Devon Energy subsidiary for $4.22 billion in cash, subject to customary purchase price adjustments, with closing expected in the fourth quarter of 2026 or early 2027. The company obtained a JPMorgan Chase debt commitment for a bridge credit facility of up to $2.0 billion and plans to fund the deal with cash on hand and, as appropriate, a mix of debt and equity. The filing's pro forma figures show 2025 results moving from $167.2 million of net income to a $373.6 million net loss after giving effect to the transactions and related financing.
- Purchase price of $4,220,000,000 in cash, with reductions for hydrocarbon sales proceeds after the July 1, 2026 economic effective date
- Bridge credit facility of up to $2.0 billion from JPMorgan Chase Bank, N.A., subject to customary terms and conditions
- Expected closing in the fourth quarter of 2026 or early 2027; press release cites an estimated net purchase price of about $3.85 billion
- Acquired assets produced about 68 MBoe/d in July 2026; pro forma 2026 capital expenditures estimated at about $1.75 billion
Read the filing on SEC.gov ↗
Aug 3, 4:21 PM ET
Crescent Energy reported second-quarter 2026 revenue of $1.39 billion, up from $898 million a year earlier, and net income attributable to the company of $492.8 million, up from $153.2 million. The company raised its 2026 total and oil production guidance and lowered its adjusted operating expense and production tax guidance, while keeping its development capital outlook unchanged.
- Q2 2026 revenue was $1.39 billion versus $898 million in Q2 2025; diluted EPS was $1.30 versus $0.60.
- Record operating cash flow of $707 million and record levered free cash flow of $418 million in the quarter.
- 2026 total production guidance raised to 327-335 MBoe/d from 320-335 MBoe/d; adjusted opex guidance lowered to $11.00-$12.00/Boe from $11.50-$12.50/Boe.
- Quarterly dividend of $0.12 per share payable August 31, 2026; about $336 million remains on the share repurchase program.
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.