Crescent Energy amends credit agreement, permits $2.0 billion bridge loan for Devon deal
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.
Key points
- 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.
The filing
Written by AI on Nov 8, 2026, 1:00 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 15, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.