**Crescent Energy Co. Reports Fiscal Year 2025 Results, Cites Strategic Acquisitions and Production Growth**
Crescent Energy Co. (CRGY) has released its financial results for the fiscal year 2025, showcasing a year marked by strategic acquisitions and increased production. The company reported net income of $167.2 million, a significant turnaround from the $137.7 million net loss recorded in 2024. Total revenues reached $3.58 billion, up 22% from $2.93 billion in the previous year, driven by increased sales volumes across oil, natural gas, and natural gas liquids (NGLs). The company's adjusted EBITDAX, a non-GAAP measure, was $2.1 billion, compared to $1.6 billion in 2024, reflecting improved operational performance.
A key factor in Crescent Energy's performance was the increase in production volumes. The company's total production averaged 260,000 barrels of oil equivalent per day (MBoe/d), up from 201 MBoe/d in 2024. This increase was primarily attributed to the acquisitions of SilverBow and Ridgemar, which expanded Crescent Energy's asset base in the Eagle Ford, Permian, and Uinta Basins. Oil production averaged 38,139 barrels per day, natural gas production reached 236.98 million cubic feet per day, and NGL production averaged 17,382 barrels per day. Average realized prices, before the effects of derivatives, were $62.21 per barrel of oil, $2.84 per Mcf of natural gas, and $22.47 per barrel of NGLs.
Strategic developments during the year included the completion of the Vital Energy Merger and the Ridgemar Acquisition, further consolidating Crescent Energy's position in key U.S. basins. The company also executed divestitures of non-core assets, generating over $900 million in proceeds. These transactions were part of a broader strategy to optimize the company's portfolio and focus on assets with strong cash flow generation potential. As of December 31, 2025, Crescent Energy's proved reserves stood at 975.5 million barrels of oil equivalent (MMBoe), with approximately 61% being liquids. The standardized measure of discounted future net cash flows was $7.8 billion, while the PV-10 value was $8.6 billion.
Operationally, Crescent Energy continued to focus on efficient operations and disciplined capital allocation. The company's lease operating expenses averaged $15.48 per Boe, demonstrating a commitment to cost control. Capital expenditures for development of oil and natural gas properties totaled $903.2 million. The company also maintained a robust hedging program, with approximately 63% of its oil production and 60% of its natural gas production hedged for 2025. As of December 31, 2025, the company had 1,066 employees dedicated to its business.
Looking ahead, Crescent Energy is focused on continuing its strategy of disciplined growth and returning capital to shareholders. The company's Board of Directors has authorized a stock repurchase program with an approved limit of $400 million. The company's outlook is subject to various risks and uncertainties, including commodity price volatility, regulatory changes, and operational challenges. However, Crescent Energy believes that its diversified asset base, strong financial position, and experienced management team position it well for future success.
About Crescent Energy Co
Crescent Energy Company is a U.S.-based oil and natural gas exploration and production firm focused on low-decline, long-life assets in Texas and the Rockies. It emphasizes disciplined growth through acquisitions, stable cash flows, and extensive undeveloped inventory. The company owns operated and mineral interests, midstream infrastructure, and benefits from strategic partnerships, aiming to deliver shareholder value via efficient operations and prudent capital management.
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