Crescent Energy(NYSE) CRGY

Crescent Energy Company extracts oil and natural gas in the U.S. It sells these fuels to provide power for everyday use. The firm collects payments from other producers on its land.

Energy Products and Assets

• Oil Production: Extraction of crude oil from major U.S. basins; accounts for 89% of production revenue for the three months ended June 30, 2026.
• Natural Gas: Extraction of gas used for heating and electricity; accounts for 2% of production revenue for the three months ended June 30, 2026.
• Natural Gas Liquids: Production of energy liquids like propane for manufacturing; accounts for 9% of production revenue for the three months ended June 30, 2026.
• Midstream and Other: Operation of gathering and blending assets; accounts for 4% or less of total revenues for the three months ended June 30, 2026.
• Minerals and Royalties: Ownership of rights to receive a share of production from other oil and gas companies.

Growing Through Big Deals

• Completed a merger with Vital Energy in Dec. 2025 to increase production scale.
• Finished the Ridgemar Acquisition in Jan. 2025 for $807.2 million in cash and 5.5 million shares.
• Purchased a portfolio of mineral and royalty interests in Feb. 2026 for approximately $309.9 million.
• Redeemed all remaining 7.750% senior notes due 2029 in July 2026.
• Sold noncore assets for over $900.0 million during 2025 to focus on key basins.

Why It Stands Out

Crescent Energy manages a balanced portfolio that pairs steady income from existing wells with a large inventory of new drilling sites. The company reached the Gold Standard for methane reporting in 2025, a leading industry standard for tracking emissions accurately.

A Look at the Numbers

• Total revenues were $1.39 billion in the three months ended June 30, 2026, up 55% year over year.
• Net income was $493.7 million in the three months ended June 30, 2026, up 204% year over year.
• Adjusted EBITDAX (non-GAAP) reached $797.9 million in the three months ended June 30, 2026, up 55% year over year.
• Daily sales hit 335,000 barrels of oil equivalent per day in the three months ended June 30, 2026, up 27% year over year.
• Levered free cash flow (non-GAAP) was $417.7 million in the three months ended June 30, 2026, up 144% year over year.

Bottom Line

Crescent Energy has transformed into a large energy producer by acquiring major assets while selling noncore properties. Its strategy focuses on building a diverse portfolio of oil and gas assets to generate consistent cash flow.