Crescent Energy to Strengthen Eagle Ford Presence With New Acquisition [Yahoo! Finance]
Crescent Energy Company (CRGY)
Company Research
Source: Yahoo! Finance
Per the terms of the deal, Crescent Energy may have to pay an additional $170 million, subject to future oil prices. The deal is anticipated to be closed in the first quarter of 2025. The acquisition should further expand CRGY's footprint in the Eagle Ford basin, one of the most prolific basins in the United States. Crescent Energy has achieved operational synergies following the integration of SilverBow Resources into its portfolio. The company acquired SilverBow Resources for approximately $2.1 billion earlier this year. Following the success of its prior acquisition, the company is eager to add Ridgemar Energy's assets to its portfolio to expand and strengthen its presence in the Eagle Ford Basin. Ridgemar Energy, backed by private equity firm Carnelian Energy Capital, is one of the largest private oil-producing companies operating in the Eagle Ford. The company produces approximately 20,000 barrels of oil equivalent per day. The U.S. energy sector has experienced an ongoing
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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 expands in Eagle Ford basin with Ridgemar Energy deal [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
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