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Get filing alertsCrescent Energy reports record Q2 cash flow, raises 2026 guidance, triples Permian synergy target
Filed August 3, 2026 · Period ending August 3, 2026 · ~1 min read
Key Changes
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Generated record operating cash flow of $707M and levered free cash flow of $418M in Q2 2026, with Adjusted EBITDAX of $798M on production of 335 MBoe/d (42% oil).
Exhibit 99.1 view on EDGAR → -
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Raised 2026 production guidance to 327-335 MBoe/d (up 1% at midpoint) while lowering operating expense guidance to $11.00-12.00/Boe (down 4%) and production tax guidance to 5.0-6.0% of revenue (down 15%).
Exhibit 99.1 view on EDGAR → -
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Increased Permian synergy target to $250-300M (roughly 3x the original target) with $190M already captured, reflecting accelerated integration benefits from the Vital Energy acquisition.
Exhibit 99.1 view on EDGAR → -
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Redeemed remaining $259M of 7.75% senior notes due 2029 at par in July 2026, eliminating nearest maturity and reducing cash interest expense while maintaining ~$2.0B liquidity post-redemption.
Exhibit 99.1 view on EDGAR → -
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Board approved Q2 2026 cash dividend of $0.12 per share, payable August 31, 2026 to shareholders of record as of August 17, 2026.
Exhibit 99.1 view on EDGAR →
Summary
Crescent Energy delivered a strong second quarter with record cash generation and operational execution that exceeded prior guidance. The company generated $707 million in operating cash flow and $418 million in levered free cash flow—both quarterly records—while producing 335 MBoe/d at operating costs 9% below the prior guidance midpoint.
Management responded by raising full-year production guidance and lowering cost guidance, signaling confidence in sustained operational momentum. The most notable development is the tripling of the Permian synergy target to $250-300 million from the Vital Energy acquisition, with $190 million already captured.
This accelerated synergy realization, combined with the July redemption of $259 million in 2029 notes (eliminating the nearest maturity), strengthens the balance sheet while maintaining $2 billion in liquidity. The company continues its fixed quarterly dividend at $0.12 per share. For holders, the combination of record cash generation, raised guidance, and accelerated synergies validates the integration thesis and positions the company for sustained free cash flow generation through the year.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Crescent Energy announced Q2 2026 financial and operating results via press release.
Added in current filing · verify on EDGAR →
On August 3, 2026, Crescent Energy Company (the “Company”) announced its financial and operating results for the quarter ended June 30, 2026.
The company disclosed its second quarter 2026 financial and operating results. The 8-K body itself does not provide specific figures; detailed results are contained in the press release furnished as Exhibit 99.1.
Event · Item 7.01 — Regulation FD Disclosure
Crescent Energy filed an 8-K incorporating Item 2.02 disclosure into Item 7.01 for Regulation FD purposes; no substantive event disclosed in body.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
The information contained in Item 2.02 of this Current Report on Form 8-K is incorporated into this Item 7.01 by reference.
The filing cross-references Item 2.02 content into Item 7.01 for Regulation FD compliance. Item 2.02 typically covers results of operations and financial condition. The body text provides no substantive disclosure; material content would be in Item 2.02 or attached exhibits not included in this excerpt.
Event · Exhibit 99.1
Crescent Energy reported Q2 2026 results with record cash flow, raised 2026 guidance, increased Permian synergy target to $250-300M, and redeemed $259M of 2029 notes.
Added in current filing · view on EDGAR → · paraphrased
Generated record Operating Cash Flow of $707 million and record Levered Free Cash Flow of $418 million ... Produced 335 MBoe/d, including 140 MBo/d of oil ... Crescent reported $494 million of net income and $263 million of Adjusted Net Income in the second quarter. The Company generated record Adjusted EBITDAX of $798 million
Crescent delivered strong Q2 2026 results with record operating cash flow of $707 million, record levered free cash flow of $418 million, and record Adjusted EBITDAX of $798 million. Production averaged 335 MBoe/d (42% oil), with net income of $494 million and Adjusted Net Income of $263 million. Operating expense was $13.38/Boe, approximately 9% below prior guidance midpoint.
Added in current filing · view on EDGAR → · paraphrased
the Company increased its total and oil production guidance following stronger-than-expected first-half performance ... Total Production (MBoe/d) ... Current 2026 Outlook 327 - 335 ... Adj. Opex ($/Boe) ... Current 2026 Outlook $11.00 - $12.00 ... Production Taxes (% of Commodity Revenue) ... Current 2026 Outlook 5.0% - 6.0%
Crescent raised its 2026 production guidance to 327-335 MBoe/d (from 320-335 MBoe/d prior), representing a 1% increase at the midpoint, while maintaining development capital guidance of $1,325-1,425 million. The company also lowered adjusted operating expense guidance to $11.00-12.00/Boe (from $11.50-12.50/Boe, a 4% reduction) and production tax guidance to 5.0-6.0% of commodity revenue (from 6.0-7.0%, a 15% reduction). These changes reflect strong first-half performance and continued operational execution.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 4, 2026 · How we verify