# Crescent Energy Co

Summary updated: 2026-10-02T16:43:26.517989Z
Canonical: https://finbar.com/research/companies/crescent-energy-co

## Overview

Crescent Energy Company is a U.S.-focused independent oil and gas exploration and production company. It produces oil, natural gas, and natural gas liquids and holds producing and development interests, mineral and royalty interests, and midstream investments. Its operations are centered on the Eagle Ford, Permian, and Uinta basins. [1](https://app.finbar.com/go?id=P7068872)[2](https://app.finbar.com/go?id=P66274195)[3](https://crescentenergyco.com/operations/)

Crescent describes its approach as pursuing disciplined, returns-driven growth through acquisitions and returning capital to shareholders, supported by a long-life, balanced portfolio. For the year ended December 31, 2025, it reported $3.58 billion in revenue and average net sales volumes of 260,000 barrels of oil equivalent per day. [1](https://app.finbar.com/go?id=P7068872)[4](https://app.finbar.com/go?id=T6424884)
[1](https://app.finbar.com/go?id=P7068872)[2](https://app.finbar.com/go?id=P66274195)[4](https://app.finbar.com/go?id=T6424884)[3](https://crescentenergyco.com/operations/)

## Products & services

Crescent Energy’s reported products are crude oil, natural gas and natural gas liquids (NGLs), produced from operations in the Eagle Ford, Permian and Uinta basins. Its Uinta crude is sold into the Salt Lake City refining complex. [3](https://crescentenergyco.com/operations/)

For the six months ended June 30, 2026, Crescent reported sales of $2.120 billion of oil, $192.1 million of natural gas and $254.5 million of NGLs; these represented approximately 82.3%, 7.4% and 9.9% of total revenue, respectively. A further $11.0 million, or about 0.4%, was reported as “midstream and other.” [5](https://app.finbar.com/go?id=T16674577) Net sales volumes were 25.281 million barrels of oil, 131.882 Bcf of natural gas and 13.859 million barrels of NGLs. [5](https://app.finbar.com/go?id=T16674577) The reviewed sources describe the products as commodity hydrocarbons and do not specify branded products or detailed technical product specifications.
[5](https://app.finbar.com/go?id=T16674577)[3](https://crescentenergyco.com/operations/)[3](https://crescentenergyco.com/operations/)

## Geographic presence

Crescent Energy’s operations are concentrated in the U.S. Eagle Ford, Permian and Uinta basins, with a core focus in the Eagle Ford. It also holds mineral and royalty interests across U.S. oil and gas basins. At December 31, 2025, the company reported 1.0 million net leasehold acres, including 960,000 net operated acres. [1](https://app.finbar.com/go?id=P7068872)[6](https://app.finbar.com/go?id=P14760765)

The company’s corporate headquarters is at 600 Travis Street, Suite 7200, Houston, Texas. [7](https://app.finbar.com/go?id=P98750442) The reviewed disclosures do not provide geographic revenue percentages or an employee distribution by location.
[1](https://app.finbar.com/go?id=P7068872)[6](https://app.finbar.com/go?id=P14760765)[7](https://app.finbar.com/go?id=P98750442)

## Business segments

Crescent Energy reports one operating and reportable segment: exploration and production of crude oil, natural gas, and natural gas liquids from operated and non-operated wells. Gathering, processing, and marketing are ancillary activities rather than separate reportable segments. Its operating portfolio spans the Eagle Ford, Permian, and Uinta basins; minerals and royalty interests are also part of the portfolio, with a core focus in the Eagle Ford. These basin and interest categories are not separately reported operating segments. [8](https://app.finbar.com/go?id=P145706903)[9](https://app.finbar.com/go?id=P145706904)[10](https://app.finbar.com/go?id=P145706705)

As an approximate financial split—not formal segment reporting—Q2 2026 materials show trailing-period Adjusted EBITDAX for leverage purposes of $2.939 billion for working interests (CEF) and $198 million for minerals and royalties (CRF), against $3.137 billion consolidated. This equates to roughly 94% and 6%, respectively; the company’s 10-Q reports only one segment. [11](https://app.finbar.com/go?id=T16673526)
[8](https://app.finbar.com/go?id=P145706903)[9](https://app.finbar.com/go?id=P145706904)[10](https://app.finbar.com/go?id=P145706705)[11](https://app.finbar.com/go?id=T16673526)[11](https://app.finbar.com/go?id=T16673526)[11](https://app.finbar.com/go?id=T16673526)

## Company history

Crescent Energy was formed on December 7, 2021, when KKR-backed Independence Energy combined with publicly traded Contango Oil & Gas Company through a business combination. Crescent began trading on the New York Stock Exchange as CRGY the following day; David Rockecharlie became CEO and John Goff chairman. The company’s origins are therefore in the combination of the two businesses rather than the founding of a standalone operating company. [12](https://app.finbar.com/go?id=P164745169)[13](https://app.finbar.com/go?id=P122178003)[14](https://crescentenergyco.com/investors/press-releases/news-details/2021/Independence-Energy-and-Contango-Oil-and-Gas-Company-Complete-Merger-Forming-Crescent-Energy-Company-12-07-2021/default.aspx)

In 2022, Crescent expanded into Utah’s Uinta Basin through its acquisition of Uinta AssetCo, whose assets had formerly belonged to EP Energy. In 2023, it enlarged its Western Eagle Ford position by acquiring operatorship and additional working interests, followed by another working-interest acquisition later that year. [15](https://app.finbar.com/go?id=P247628)[16](https://app.finbar.com/go?id=P37671960)[17](https://app.finbar.com/go?id=P14085448)

Crescent completed its acquisition of SilverBow Resources on July 30, 2024, substantially expanding its Eagle Ford operations. It then closed a Central Eagle Ford asset acquisition from Ridgemar on January 31, 2025. In August 2025, Crescent announced an all-stock merger agreement with Vital Energy, which it completed on December 15, 2025. [18](https://app.finbar.com/go?id=P119663282)[19](https://crescentenergyco.com/investors/press-releases/news-details/2024/Crescent-Energy-Closes-Transformative-Acquisition-of-SilverBow-Resources-07-30-2024/default.aspx)[20](https://app.finbar.com/go?id=P10681843)[21](https://app.finbar.com/go?id=P102999726)[22](https://crescentenergyco.com/investors/events-and-presentations/event-details/2025/Crescent-Energy-to-Acquire-Vital-Energy-in-All-Stock-Transaction/default.aspx)
[12](https://app.finbar.com/go?id=P164745169)[13](https://app.finbar.com/go?id=P122178003)[14](https://crescentenergyco.com/investors/press-releases/news-details/2021/Independence-Energy-and-Contango-Oil-and-Gas-Company-Complete-Merger-Forming-Crescent-Energy-Company-12-07-2021/default.aspx)[15](https://app.finbar.com/go?id=P247628)[16](https://app.finbar.com/go?id=P37671960)[17](https://app.finbar.com/go?id=P14085448)[18](https://app.finbar.com/go?id=P119663282)[19](https://crescentenergyco.com/investors/press-releases/news-details/2024/Crescent-Energy-Closes-Transformative-Acquisition-of-SilverBow-Resources-07-30-2024/default.aspx)[20](https://app.finbar.com/go?id=P10681843)[21](https://app.finbar.com/go?id=P102999726)[22](https://crescentenergyco.com/investors/events-and-presentations/event-details/2025/Crescent-Energy-to-Acquire-Vital-Energy-in-All-Stock-Transaction/default.aspx)[14](https://crescentenergyco.com/investors/press-releases/news-details/2021/Independence-Energy-and-Contango-Oil-and-Gas-Company-Complete-Merger-Forming-Crescent-Energy-Company-12-07-2021/default.aspx)[19](https://crescentenergyco.com/investors/press-releases/news-details/2024/Crescent-Energy-Closes-Transformative-Acquisition-of-SilverBow-Resources-07-30-2024/default.aspx)[22](https://crescentenergyco.com/investors/events-and-presentations/event-details/2025/Crescent-Energy-to-Acquire-Vital-Energy-in-All-Stock-Transaction/default.aspx)

## Sources

1. [Crescent Energy Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=P7068872)
2. [Crescent Energy Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=P66274195)
3. [crescentenergyco.com](https://crescentenergyco.com/operations/)
4. [Crescent Energy Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=T6424884)
5. [Crescent Energy Co — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16674577)
6. [Crescent Energy Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=P14760765)
7. [Crescent Energy Co — Full financial report (2025 Y)](https://app.finbar.com/go?id=P98750442)
8. [Crescent Energy Co — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P145706903)
9. [Crescent Energy Co — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P145706904)
10. [Crescent Energy Co — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P145706705)
11. [Crescent Energy Co — Press release (2026 Q 2)](https://app.finbar.com/go?id=T16673526)
12. [Crescent Energy Co — Ipo (2022 O)](https://app.finbar.com/go?id=P164745169)
13. [Crescent Energy Co — Full financial report (2021 Y)](https://app.finbar.com/go?id=P122178003)
14. [crescentenergyco.com](https://crescentenergyco.com/investors/press-releases/news-details/2021/Independence-Energy-and-Contango-Oil-and-Gas-Company-Complete-Merger-Forming-Crescent-Energy-Company-12-07-2021/default.aspx)
15. [Crescent Energy Co — Full financial report (2022 Y)](https://app.finbar.com/go?id=P247628)
16. [Crescent Energy Co — Full financial report (2023 Y)](https://app.finbar.com/go?id=P37671960)
17. [Crescent Energy Co — Full financial report (2023 Y)](https://app.finbar.com/go?id=P14085448)
18. [Crescent Energy Co — Full financial report (2024 Q 2)](https://app.finbar.com/go?id=P119663282)
19. [crescentenergyco.com](https://crescentenergyco.com/investors/press-releases/news-details/2024/Crescent-Energy-Closes-Transformative-Acquisition-of-SilverBow-Resources-07-30-2024/default.aspx)
20. [Crescent Energy Co — Full financial report (2026 Q 1)](https://app.finbar.com/go?id=P10681843)
21. [Crescent Energy Co — Full financial report (2026 Q 1)](https://app.finbar.com/go?id=P102999726)
22. [crescentenergyco.com](https://crescentenergyco.com/investors/events-and-presentations/event-details/2025/Crescent-Energy-to-Acquire-Vital-Energy-in-All-Stock-Transaction/default.aspx)

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