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Crescent Energy generated approximately $786 million of adjusted EBITDA and $367 million of lever-free cash flow in Q3; capital of approximately $326 million was 9% better than expectations, and lever-free cash flow was 23% above expectations.
Crescent agreed to acquire Devon EF Assets for approximately $4.2 billion in cash. Third-quarter revenues increased 56% to $1,351,212 thousand as sales volumes rose 30% to 30,135 MBoe.
Crescent Energy Company reported third-quarter 2026 production of 328 MBoe/d and declared a $0.12 per share dividend. It also agreed to acquire Eagle Ford assets from Devon Energy for approximately $3.85 billion.
Crescent Energy's subsidiary entered a Sixteenth Amendment to its Credit Agreement on October 14, 2026, permitting the Devon EF Assets Acquisition and a $2.0 billion 364-day unsecured bridge facility, while maintaining $2.0 billion aggregate elected commitments.
Crescent Energy Company priced 80,000,000 Class A Common Stock shares at $12.50 per share on October 8, 2026; underwriters exercised 12,000,000 additional shares on October 9, 2026, and the company expects approximately $1,115.9 million in net proceeds.
Useful current figures from the complete screener profile.
* Q4 derived as the full year minus Q1 to Q3.
TL;DR. Crescent delivered 328 MBoe/d of production, beat expectations for production, capital efficiency and free cash flow, substantially exceeded its original Permian synergy target, and expects to finish below the midpoint of full-year capital guidance. Lower well costs expanded economic inventory, while the Devon Eagle Ford acquisition, approximately $2.0 billion of liquidity, leverage targets, hedges, a $0.12 dividend and approximately $336 million of repurchase authorization support deleveraging and shareholder returns; however, Crescent reported a $1 million net loss and a $405,833 thousand derivatives loss amid inflation, commodity-price, integration and synergy-realization risks.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Illustrative technical + ownership context — a signal mix, not investment advice.
| Metric | Latest | Period | YoY |
|---|---|---|---|
| Net cash (paid) received on settlement of derivatives | -504M | Nine Months EndedSeptember 30, 2026 | — |
| Settlement of acquired derivative contracts | 156M | Nine Months EndedSeptember 30, 2026 | — |
| Settlement of Ridgemar contingent earn-out consideration | -35M | Nine Months EndedSeptember 30, 2026 | — |
| Total cash (paid) received | -383M | Nine Months EndedSeptember 30, 2026 | — |
| Adjusted EBITDAX non-GAAP | 1.5B | six months ended June 30, 2026 | — |
| Full cost ceiling impairment expense | $1.01B | Nine months ended September 30, 2025 | — |
| Levered Free Cash Flow non-GAAP | $609.5M | six months ended June 30, 2026 | — |
| Net production | 338 | six months ended June 30, 2026 | — |
| Present Worth at 10 Percent, Total Proved | $2.34B | as of December 31, 2025 | — |
| Proved Developed reserves, Oil Equivalent | 82,322 | as of December 31, 2025 | — |
| Proved reserves | 975.5 | December 31, 2025 | — |
| Proved Undeveloped reserves, Oil Equivalent | 66,991 | as of December 31, 2025 | — |
| PV-0 (millions) - Crescent non-GAAP | $16.53B | As of December 31, 2025 | — |
| PV-10 (millions) - Crescent non-GAAP | $10.49B | As of December 31, 2025 | — |
| Total Proved Developed Reserves (MBoe) - Crescent | 778,740 | As of December 31, 2025 | — |
| Total Proved Reserves (MBoe) - Crescent | 977,850 | As of December 31, 2025 | — |
| Total Proved reserves, NGL | 33,011 | as of December 31, 2025 | — |
| Total Proved reserves, Oil and Condensate | 86,894 | as of December 31, 2025 | — |
| Total Proved reserves, Oil Equivalent | 151,819 | as of December 31, 2025 | — |
| Total Proved reserves, Sales Gas | 191,484 | as of December 31, 2025 | — |
| Total Proved Undeveloped Reserves (MBoe) - Crescent | 199,110 | As of December 31, 2025 | — |
| Adjusted Dividends Paid non-GAAP | $78.98M | six months ended June 30, 2026 | — |
| Adjusted EPS non-GAAP | $1.2 | six months ended June 30, 2026 | — |
| Adjusted Net Income (non-GAAP) non-GAAP | $438.5M | six months ended June 30, 2026 | — |
| Adjusted operating expense, excluding production and other taxes non-GAAP | $10.95 | the second quarter of 2026 | — |
| Adjusted Recurring Cash G&A non-GAAP | $70.29M | six months ended June 30, 2026 | — |
| Capital expenditures (excluding acquisitions) | $284M | the second quarter | — |
| Gross operated wells brought online | 32 | the second quarter | — |
| Gross operated wells drilled | 43 | the second quarter | — |
| Liquidity | 2.2B | As of June 30, 2026 | — |
| Liquids percentage of production | 64% | the second quarter of 2026 | — |
| Minerals and royalties Adjusted EBITDAX non-GAAP | $49.42M | three months ended June 30, 2026 | — |
| Minerals and royalties Levered Free Cash Flow non-GAAP | $44.14M | three months ended June 30, 2026 | — |
| Minerals and royalties Total (MBoe/d) | 13 | three months ended June 30, 2026 | — |
| Natural gas ($/Mcf) | $0.52 | the three months ended June 30, 2026 filing | — |
| Natural gas (MMcf) | 65,022 | the three months ended June 30, 2026 filing | — |
| Natural gas (MMcf/d) | 685 | three months ended June 30, 2026 | — |
| NGLs ($/Bbl) | $18.67 | the three months ended June 30, 2026 filing | — |
| NGLs (MBbls) | 6,929 | the three months ended June 30, 2026 filing | — |
| NGLs (MBbls/d) | 74 | three months ended June 30, 2026 | — |
| Oil ($/Bbl) | $96.61 | the three months ended June 30, 2026 filing | — |
| Oil (MBbls) | 12,699 | the three months ended June 30, 2026 filing | — |
| Oil (MBbls/d) | 133 | three months ended June 30, 2026 | — |
| Oil percentage of production | 42% | the second quarter of 2026 | — |
| Oil production | 140 | the second quarter of 2026 | — |
| Operating Cash Flow | $707M | the second quarter of 2026 | — |
| Operating expense | $13.38 | the second quarter of 2026 | — |
| Operating expense (per Boe) | $13.76 | three months ended June 30, 2026 | — |
| Permian synergy captured to date | $190M | to date | — |
| Share repurchase program availability remaining | $336M | As of June 30, 2026 | — |
| Total ($/Boe) | $45.63 | the three months ended June 30, 2026 filing | — |
| Total (MBoe/d) | 322 | three months ended June 30, 2026 | — |
| Total production | 335 | the second quarter of 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
CRGY
this stock
Crescent Energy Co
|
$5.12B | +44.5% | +22.1% | — | 8.6% |
|
COP
Conocophillips
|
$168.22B | +52.0% | +7.7% | 14.9 | 1.4% |
|
CNQ
CANADIAN NATURAL RESOURCES Ltd
|
$101.25B | +47.0% | — | — | 2.5% |
|
EOG
Eog Resources Inc
|
$82.09B | +50.8% | -4.5% | 10.2 | 3.2% |
|
OXY
Occidental Petroleum Corp
|
$58.74B | +42.9% | -1.9% | 7.8 | 2.7% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
Crescent agreed to acquire Devon EF Assets for approximately $4.2 billion in cash. Third-quarter revenues increased 56% to $1,351,212 thousand as sales volumes rose 30% to 30,135 MBoe.
View| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| CRGY | +8.0% | -12.0% | -2.5% | -14.7% | +44.5% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | +5.4% | -10.8% | -3.0% | -14.5% | +33.8% |
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
