NYSE: CRGY
Crescent Energy CoCIK 0001866175 · SIC 1311 · Crude Petroleum & Natural Gas
Large
Revenue $3.6B
Assets $12.0B
as of Aug 16, 2026
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8-K
Filed Aug 3, 2026
· Period ending Aug 3, 2026
Crescent Energy reports record Q2 cash flow, raises 2026 guidance, triples Permian synergy target
5 material changes detected. Sign up free to read the summary.
10-Q
Filed Aug 3, 2026
· Period ending Jun 30, 2026
Summary not yet generated.
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8-K
Filed Jul 8, 2026
· Period ending Jul 8, 2026
Crescent Energy paid $154M on commodity hedges in Q2, partially offset by acquired contracts
3 material changes detected. Sign up free to read the summary.
8-K
Filed May 22, 2026
· Period ending May 18, 2026
Crescent Energy cuts credit facility borrowing base by $400M to $3.5B, gains debt flexibility
3 material changes detected. Sign up free to read the summary.
8-K
Filed May 4, 2026
· Period ending May 4, 2026
Crescent Energy reports Q1 2026 financial and operating results
2 material changes detected. Sign up free to read the summary.
10-Q
Filed May 4, 2026
· Period ending Mar 31, 2026
revenue $1.18B, net income -$419.8M. Crescent refinances debt at lower rate, adds minerals; Iran conflict drives oil >
5 material changes detected. Sign up free to read the summary.
8-K
Filed Apr 9, 2026
· Period ending Apr 9, 2026
Crescent Energy reports $40M cash paid on Q1 derivative settlements, offset by merger gains
3 material changes detected. Sign up free to read the summary.
8-K
Filed Mar 9, 2026
· Period ending Mar 3, 2026
Red flag
Crescent Energy raises $690M via convertible notes, caps dilution with $57M hedge
4 material changes detected. Sign up free to read the summary.
10-K
Filed Feb 25, 2026
· Period ending Dec 31, 2025
Summary not yet generated.
10-Q
Filed Nov 3, 2025
· Period ending Sep 30, 2025
Summary not yet generated.
10-Q
Filed May 5, 2025
· Period ending Mar 31, 2025
Summary not yet generated.
10-K
Filed Feb 26, 2025
· Period ending Dec 31, 2024
Summary not yet generated.
Latest financial statements
From 10-Q filed Aug 3, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenues: | ||||
| Oil | 1,226,826 | 602,488 | 2,120,146 | 1,222,147 |
| Natural gas | 33,776 | 159,001 | 192,141 | 346,441 |
| Natural gas liquids | 129,371 | 98,142 | 254,478 | 205,717 |
| Midstream and other | 4,981 | 38,352 | 11,019 | 73,851 |
| Total revenues | 1,394,954 | 897,983 | 2,577,784 | 1,848,156 |
| Expenses: | ||||
| Lease and asset operating expense | 207,122 | 180,465 | 441,278 | 372,469 |
| Workover expense | 32,905 | 19,360 | 63,245 | 35,381 |
| Gathering, processing and transportation | 94,479 | 106,074 | 196,554 | 211,362 |
| Production and other taxes | 69,008 | 55,105 | 124,707 | 115,487 |
| Depreciation, depletion and amortization | 358,004 | 297,056 | 712,129 | 579,629 |
| Impairment of oil and natural gas properties | — | 2,985 | — | 48,632 |
| Exploration expense | 366 | 5,574 | 6,885 | 5,880 |
| Midstream and other operating expense | 4,158 | 29,027 | 10,904 | 58,843 |
| General and administrative expense | 61,494 | 124,612 | 124,294 | 181,382 |
| (Gain) loss on sale of assets | (13,568) | (1,910) | (10,690) | (12,772) |
| Total expenses | 813,968 | 818,348 | 1,669,306 | 1,596,293 |
| Income (loss) from operations | 580,986 | 79,635 | 908,478 | 251,863 |
| Other income (expense): | ||||
| Gain (loss) on derivatives | 181,883 | 198,585 | (524,708) | 107,557 |
| Interest expense | (99,823) | (75,219) | (204,397) | (148,400) |
| Loss from extinguishment of debt | — | — | (17,397) | — |
| Other income (expense) | 471 | 115 | 144 | 231 |
| Income (loss) from equity affiliates | 107 | 439 | 56 | 831 |
| Total other income (expense) | 82,638 | 123,920 | (746,302) | (39,781) |
| Income (loss) before taxes | 663,624 | 203,555 | 162,176 | 212,082 |
| Income tax benefit (expense) | (169,920) | (41,057) | (87,648) | (43,670) |
| Net income (loss) | 493,704 | 162,498 | 74,528 | 168,412 |
| Less: net (income) loss attributable to noncontrolling interests | (939) | (1,299) | (1,610) | (3,288) |
| Less: net (income) loss attributable to redeemable noncontrolling interests | — | (7,978) | — | (14,050) |
| Net income (loss) attributable to Crescent Energy | 492,765 | 153,221 | 72,918 | 151,074 |
| Net income (loss) per share: | ||||
| Class A common stock basic | 1.49 | 0.61 | 0.22 | 0.68 |
| Class A common stock diluted | 1.30 | 0.60 | 0.21 | 0.67 |
| Class B common stock basic and diluted | — | — | — | — |
| Weighted average shares outstanding: | ||||
| Class A common stock basic | 330,283 | 253,174 | 329,283 | 222,405 |
| Class A common stock diluted | 381,751 | 255,447 | 366,832 | 225,285 |
| Class B common stock basic and diluted | — | 2,077 | — | 33,494 |
Condensed Consolidated Balance Sheets
(in thousands, except share data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 264,882 | 10,157 |
| Restricted cash | 5,467 | 725,702 |
| Accounts receivable, net | 664,936 | 738,333 |
| Accounts receivable affiliates | 3,899 | 4,501 |
| Derivative assets current | 53,759 | 322,784 |
| Prepaid expenses | 49,642 | 46,309 |
| Other current assets | 60,027 | 13,271 |
| Total current assets | 1,102,612 | 1,861,057 |
| Property, plant and equipment: | ||
| Oil and natural gas properties at cost, successful efforts method | ||
| Proved | 14,132,507 | 13,264,097 |
| Unproved | 567,174 | 413,444 |
| Oil and natural gas properties at cost, successful efforts method | 14,699,681 | 13,677,541 |
| Field and other property and equipment, at cost | 177,134 | 157,031 |
| Total property, plant and equipment | 14,876,815 | 13,834,572 |
| Less: accumulated depreciation, depletion, amortization and impairment | (4,245,505) | (3,558,601) |
| Property, plant and equipment, net | 10,631,310 | 10,275,971 |
| Derivative assets noncurrent | 22,024 | 2,829 |
| Investments in equity affiliates | 9,149 | 8,146 |
| Deferred tax asset | 73,086 | 143,706 |
| Other assets | 170,195 | 151,498 |
| TOTAL ASSETS | 12,008,376 | 12,443,207 |
| The accompanying notes to financial statements are an integral part of these condensed consolidated financial statements | ||
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | 977,199 | 1,121,678 |
| Accounts payable affiliates | 20,814 | 46,279 |
| Derivative liabilities current | 28,345 | — |
| Financing lease obligations current | 4,225 | 4,860 |
| Other current liabilities | 136,752 | 86,603 |
| Total current liabilities | 1,167,335 | 1,259,420 |
| Long-term debt | 5,166,022 | 5,524,128 |
| Derivative liabilities noncurrent | 9,854 | 13,421 |
| Asset retirement obligations | 379,933 | 383,057 |
| Deferred tax liability | 15,127 | 11,671 |
| Financing lease obligations noncurrent | 1,435 | 3,228 |
| Other liabilities | 109,081 | 82,847 |
| Total liabilities | 6,848,787 | 7,277,772 |
| Commitments and contingencies (Note 9) | ||
| Equity: | ||
| Class A common stock, $0.0001 par value; 1,000,000,000 shares authorized, 337,536,206 and 334,979,293 shares issued, 330,345,624 and 327,900,272 shares outstanding as of June 30, 2026 and December 31, 2025, respectively | 33 | 33 |
| Class B common stock, $0.0001 par value; 500,000,000 shares authorized as of June 30, 2026 and December 31, 2025, respectively | — | — |
| Preferred stock, $0.0001 par value; 500,000,000 shares authorized and 1,000 Series I preferred shares issued and outstanding as of June 30, 2026 and December 31, 2025 | — | — |
| Treasury stock, at cost; 7,190,582 and 7,079,021 shares of Class A common stock as of June 30, 2026 and December 31, 2025, respectively | (72,441) | (71,054) |
| Additional paid-in capital | 5,191,073 | 5,228,928 |
| Retained earnings (accumulated deficit) | 33,287 | — |
| Noncontrolling interests | 7,637 | 7,528 |
| Total equity | 5,159,589 | 5,165,435 |
| TOTAL LIABILITIES AND EQUITY | 12,008,376 | 12,443,207 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income (loss) | 74,528 | 168,412 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities | ||
| Depreciation, depletion and amortization | 712,129 | 579,629 |
| Impairment expense | — | 48,632 |
| Deferred tax expense (benefit) | 86,469 | 26,184 |
| (Gain) loss on derivatives | 524,708 | (107,557) |
| Net cash (paid) received on settlement of derivatives | (343,169) | 9,195 |
| Non-cash equity-based compensation expense | 44,709 | 119,493 |
| Amortization of debt issuance costs, premium and discount | 8,233 | 7,541 |
| Loss from debt extinguishment | 17,397 | — |
| (Gain) loss on sale of oil and natural gas properties | (10,690) | (12,772) |
| Settlement of acquired derivative contracts | 122,632 | 34,895 |
| Other | (13,410) | (15,814) |
| Changes in operating assets and liabilities | (107,557) | (21,758) |
| Net cash provided by operating activities | 1,115,979 | 836,080 |
| Cash flows from investing activities: | ||
| Development of oil and natural gas properties | (651,334) | (476,052) |
| Acquisitions of oil and natural gas properties, net of cash acquired | (354,423) | (884,366) |
| Proceeds from the sale of oil and natural gas properties | 12,756 | 91,372 |
| Purchases of restricted investment securities HTM | (14,543) | (8,969) |
| Maturities of restricted investment securities HTM | 14,577 | 8,904 |
| Other | (10,683) | — |
| Net cash used in investing activities | (1,003,650) | (1,269,111) |
| Cash flows from financing activities: | ||
| Proceeds from the issuance of Senior Notes, after premium, discount and underwriting fees | 671,025 | — |
| 2031 Convertible Notes capped call | (56,649) | — |
| Repurchase of Senior Notes, including extinguishment costs | (551,258) | — |
| Revolving Credit Facility borrowings | 2,255,500 | 1,783,000 |
| Revolving Credit Facility repayments | (3,028,148) | (1,459,500) |
| CRF Credit Facility borrowings | 230,000 | — |
| Proceeds from issuance of CRF Term Loan | 135,000 | — |
| Repayments of CRF Term Loan | (89,500) | — |
| Payment of debt issuance costs | (9,682) | (1,777) |
| Settlement of Ridgemar contingent earn-out consideration | (18,718) | — |
| Dividends | (78,979) | (54,011) |
| Distributions to redeemable noncontrolling interests | — | (16,587) |
| Repurchase of noncontrolling interest | (32,196) | — |
| Noncontrolling interest distributions | (1,501) | (2,062) |
| Cash paid for treasury stock acquired for equity-based compensation tax withholding | (1,386) | — |
| Repurchases of Class A common stock | — | (33,828) |
| Other | — | (1,855) |
| Net cash provided by (used in) financing activities | (576,492) | 213,380 |
| Net change in cash, cash equivalents and restricted cash | (464,163) | (219,651) |
| Cash, cash equivalents and restricted cash, beginning of period | 753,310 | 240,908 |
| Cash, cash equivalents and restricted cash, end of period | 289,147 | 21,257 |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except per share amounts); (in thousands, except share data); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗