Crescent Energy expands in Eagle Ford basin with Ridgemar Energy deal [Globe and Mail, The (Toronto, Canada)]
Crescent Energy Company (CRGY)
Company Research
Source: Globe and Mail, The
increase said on Tuesday it would acquire Carnelian Energy Capital-backed Ridgemar Energy's assets in the Eagle Ford basin in Texas for a cash-and-stock deal of $905-million, further strengthening its position in the basin. The deal, which is expected to close in the first quarter of 2025, also includes an additional payment of $170-million by Crescent contingent on future oil prices. Shares of the company were down 3.6 per cent in extended trading. A consolidation in the U.S. energy sector, which triggered $250-billion worth of deals in 2023, has stretched into this year as companies look for opportunities to deploy their cash hoard and boost their reserves. This trend has also enabled private equity firms to benefit from selling to companies seeking to increase their inventory, allowing the former to exit oil and gas investments profitably. “With accelerated synergies captured from the integration of SilverBow and our recent bolt-on acquisition, our full team is ready and
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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