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- Crescent Energy Closes $905M Eagle Ford Acquisition
Crescent Energy Closes $905M Eagle Ford Acquisition
Slice of Energy Team
February 07, 2025
Key Highlights:
Crescent Energy (NYSE: CRGY) completes $905M acquisition of Central Eagle Ford assets from Ridgemar Energy.
Transaction includes $830M in cash and 5.45M shares of Class A common stock.
Future oil price contingent consideration is part of the deal.
Enhances oil-weighted production and extends low-risk inventory for Crescent.
2025 guidance to reflect acquisition in Q4 and full-year 2024 results.
Source: Business Wire
Notable Quote:
“We are pleased to complete this accretive acquisition, which further scales our core Eagle Ford position as we also welcome many talented new members to the Crescent Energy team. This acquisition demonstrates our disciplined approach to creating shareholder value by combining our investing and operational expertise to acquire and efficiently integrate high-quality assets while maintaining a strong financial profile. These assets enhance our oil-weighted production and extend our low-risk inventory, reinforcing our ability to deliver sustained cash flow and returns. We remain focused on executing our strategy of profitable growth and advancing our investment-grade ambitions."
Why This Matters:
Crescent Energy’s strategic acquisition of Central Eagle Ford assets reinforces its position as a leading player in the U.S. energy sector. By expanding its oil-weighted production and low-risk inventory, Crescent strengthens its ability to generate stable cash flow and shareholder value. This deal also highlights the company’s disciplined growth-through-acquisition strategy and commitment to long-term profitability while maintaining financial stability.