Crescent Energy Announces Accretive Central Eagle Ford Bolt-On
Crescent Energy Company (CRGY)
Company Research
Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Crescent Energy Company (NYSE: CRGY) (“Crescent” or the “Company”) today announced the signing of a definitive agreement to acquire Eagle Ford assets from Ridgemar Energy for upfront consideration of $905 million plus future oil price contingent consideration, subject to customary purchase price adjustments. The acquisition is directly offset Crescent’s core Central Eagle Ford position and builds upon its significant acquisition activity in the Eagle Ford over the past 18 months, totaling more than $4 billion of accretive M&A. The transaction, which has an effective date of October 1, is expected to close in the first quarter of 2025, subject to customary closing conditions. Additional details have been posted on Crescent’s website at www.crescentenergyco.com.HighlightsComplementary operations directly offset core position – Adding significant and contiguous scale offset Crescent’s existing footprint in Frio, Atascosa, La Salle and McMullen counties with
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CRGY
News
- Crescent Energy (NYSE: CRGY) had its price target raised by analysts at Mizuho from $14.00 to $16.00. They now have a "neutral" rating on the stock.MarketBeat
- Oil & Gas Stock Roundup: Spotlight on CVX's Capex Plan, EQNR-SHEL JV [Yahoo! Finance]Yahoo! Finance
- Crescent Energy (NYSE: CRGY) had its price target raised by analysts at Truist Financial Co. from $16.00 to $18.00. They now have a "buy" rating on the stock.MarketBeat
- Crescent Energy Announces Pricing of Upsized $400 Million Private Placement of Additional 7.625% Senior Notes Due 2032Business Wire
- Crescent Energy to Strengthen Eagle Ford Presence With New Acquisition [Yahoo! Finance]Yahoo! Finance
CRGY
Earnings
- 11/4/24 - Miss
CRGY
Sec Filings
- 12/20/24 - Form 8-K
- 12/18/24 - Form 4
- 12/13/24 - Form 4
- CRGY's page on the SEC website