Crescent Energy Company today announced that it has entered into a definitive purchase agreement with Verdun Oil Company II LLC to acquire Uinta Basin assets previously owned by EP Energy for $815 million, subject to customary purchase price adjustments. The all-cash transaction, expected to close in the first half of 2022, will be funded through the company's revolving credit facility and cash on hand. Closing is subject [...]
Crescent Energy Company today announced its membership in the Oil & Gas Methane Partnership 2.0 Initiative to enhance the company's reporting of methane emissions. The OGMP 2.0 framework is the leading industry standard for methane emissions reporting, allowing a company to assess its emissions footprint by asset and create targeted emissions reduction programs. By adopting this rigorous reporting standard to quantify [...]
Crescent Energy Company announced today that its indirect subsidiary Crescent Energy Finance LLC has priced its previously announced private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended , to eligible purchasers of $200 million aggregate principal amount of 7.250% Senior Notes due 2026 . The size of the offering was increased from the previously announced $150 million to [...]
Crescent Energy Company announced today that, subject to market conditions, its indirect subsidiary Crescent Energy Finance LLC intends to offer for sale in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended , to eligible purchasers $150 million aggregate principal amount of 7.250% Senior Notes due 2026 . The Notes are being offered as additional notes under the [...]
Crescent Energy Company today provided initial 2022 guidance and an updated corporate presentation in conjunction with scheduled analyst and investor meetings. In addition, the Company disclosed its year-end 2021 proved reserves. Complete fourth quarter and year-end 2021 financial and operating results are currently scheduled for release in early March 2022. Highlights: Significant Free Cash Flow: Anticipate delivering [...]
Crescent Energy Company today announced the publication of its inaugural Environmental, Social and Governance Report. The report provides an initial baseline to measure the Company's performance and establishes Crescent's immediate ESG priorities. Highlights of the Inaugural 2020 ESG Report Establishes Crescent Energy's ESG priorities: Climate Change - Work to reduce greenhouse gas emissions Environmental, Health and [...]
Crescent Energy Company today announced pro forma financial and operational results for the nine-month period ended September 30, 2021 related to the business combination between Independence Energy LLC and Contango Oil & Gas Company . Highlights and Recent Developments - Formed Crescent Energy on December 7, 2021 with the successful completion of the merger between Independence and Contango; stock is now trading on the [...]
Crescent Energy Company today announced the successful completion of the combination of Independence Energy and Contango Oil & Gas Company, creating a premier, diversified and well-capitalized U.S. energy company focused on consolidation. Crescent's Class A common stock will trade on the New York Stock Exchange under the ticker symbol "CRGY" at the open of trading on December 8, 2021, and as previously announced, each [...]
Contango Oil & Gas Company today announced that it has set December 6, 2021 as the meeting date for the special meeting of its shareholders to approve its proposed business combination with Independence Energy LLC . The parties expect that the business combination will close on or about December 7, 2021, subject to approval of the business combination by Contango's shareholders and the satisfaction of other customary [...]
Combined Company to Deliver Attractive Risk-Adjusted Returns through Cash Flow Oriented Business Model Projected to be Substantially Accretive to Contango's Cash Flow Per Share by ~15% in 2021E and ~50% in 2022E1 Meaningful Immediate G&A Synergies with Further Savings Anticipated Companies to Host Joint Conference Call Today at 7:30 a.m. CT / 8:30 a.m. ET HOUSTON and FORT WORTH, Texas, June 08, 2021 -- Independence [...]
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