olivLaw · US equity research
Crescent Energy Company CRGY
Crude Petroleum & Natural Gas · SIC 1311 · Vertical: Crude Petroleum & Natural Gas (SIC 1311)
Crescent Energy is a U.S. energy company producing oil, natural gas and NGLs from the Eagle Ford, Permian and Uinta basins, and it pairs acquisitions with consistent return of capital to shareholders. It matters now because the 2026 conflict with Iran has brought high volatility to energy markets, and its debt position and assets acquired through mergers will be tested by these conditions.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Crescent Energy Company (CRGY) stock was 11.73 USD (−9.84% on the day), with market capitalisation 5.0 bn USD, P/E 79.8, dividend yield 3.01%, beta 1.02, 52-week range 7.75–15.37 USD. Latest reported quarter (Q3 2026): revenue of 1.4 bn USD (+55.9% YoY), net income of -2.2 m USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 33.0
- weak (30–45)
- Bollinger (20, 2)
- 12.14 – 14.46
- below the lower band · %B -0.18 · band width 17.4%
- SMA 50 / 200
- 13.57 / 12.08
- mixed trend
- MACD (12, 26, 9)
- -0.08 / 0.05
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −13.5% | −1.1% | −12.4 pp | — |
| 3 months | +6.8% | −0.5% | +7.3 pp | — |
| 6 months | −10.5% | +4.4% | −14.9 pp | — |
| Year to date | +39.8% | +12.3% | +27.5 pp | — |
| 1 year | +45.7% | +13.5% | +32.2 pp | +18.1% |
| 3 years | −6.1% | +76.4% | −82.5 pp | +4.3% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 875.3 m | 950.2 m | 898.0 m | 866.6 m | 865.0 m | 1.2 bn | 1.4 bn | 1.4 bn |
| Operating income | -27.5 m | 172.2 m | 79.6 m | 30.8 m | -53.4 m | 327.5 m | 581.0 m | 478.7 m |
| Depreciation & amortisation | 309.0 m | 282.6 m | 297.1 m | 298.5 m | 288.8 m | 354.1 m | 358.0 m | 374.9 m |
| Interest expense | 69.4 m | 73.2 m | 75.2 m | 72.6 m | 77.4 m | 104.6 m | 99.8 m | 94.2 m |
| Pre-tax income | -206.7 m | 8.5 m | 203.6 m | -14.3 m | 3.9 m | -501.4 m | 663.6 m | 5.4 m |
| Income tax | -36.8 m | 2.6 m | 41.1 m | -4.0 m | -5.1 m | -82.3 m | 169.9 m | 6.0 m |
| Net income | -118.0 m | -2.2 m | 153.2 m | -9.5 m | -8.7 m | -419.8 m | 492.8 m | -2.2 m |
| Operating cash flow | 384.4 m | 337.1 m | 499.0 m ≈ | 473.1 m ≈ | 371.0 m | 409.2 m | 706.8 m ≈ | 608.5 m ≈ |
| Dividends paid | 19.5 m | 23.5 m | 30.6 m ≈ | 30.6 m ≈ | 30.6 m | 39.3 m | 39.6 m ≈ | 39.6 m ≈ |
| Share repurchases | 502.0 k | 5.3 m | 28.5 m ≈ | 0 ≈ | -358.0 k | 0 | 0 ≈ | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 1.1 bn | 754.2 m | 1.5 bn | 3.1 bn | 2.4 bn | 2.9 bn | 3.6 bn |
| Revenue YoY | unavailable | −30.6% | +95.8% | +107.0% | −22.1% | +23.0% | +22.1% |
| Net income | 0 | 0 | -19.4 m | 96.7 m | 67.6 m | -114.6 m | 132.9 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | −30.1% | −269.5% | unavailable |
| Diluted EPS | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | 0.0% | 0.0% | -1.3% | 3.2% | 2.8% | -3.9% | 3.7% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 10.2 m USD
- Financial debt
- 5.5 bn USD
- Net debt
- 5.5 bn USD
- Equity
- 5.2 bn USD
- Total assets
- 12.4 bn USD
- Debt / equity
- 1.07x
- Current ratio
- 1.48x
- ROE
- 3.2%
- ROA
- 1.2%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 754.2 m | 1.5 bn | 3.1 bn | 2.4 bn | 2.9 bn | 3.6 bn | SEC (XBRL)· 25 Feb 2026verified |
| Operating income | -373.6 m | 483.7 m | 1.3 bn | 324.7 m | 218.5 m | 229.3 m | SEC (XBRL)· 25 Feb 2026verified |
| Depreciation & amortisation | 372.3 m | 312.8 m | 532.9 m | 675.8 m | 949.5 m | 1.2 bn | SEC (XBRL)· 25 Feb 2026verified |
| EBITDA | -1.3 m ≈ | 796.5 m ≈ | 1.8 bn ≈ | 1.0 bn ≈ | 1.2 bn ≈ | 1.4 bn ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Interest expense | 38.1 m | 50.7 m | 95.9 m | 145.8 m | 216.3 m | 298.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Pre-tax income | -216.1 m | -432.5 m | 516.9 m | 345.2 m | -168.8 m | 201.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Income tax | 14.0 k | -306.0 k | 36.3 m | 23.2 m | -31.1 m | 34.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Net income | 0 | -19.4 m | 96.7 m | 67.6 m | -114.6 m | 132.9 m | SEC (XBRL)· 25 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 36.9 m | 128.6 m | 0 | 3.0 m | 132.8 m | 10.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Receivables | 111.8 m | 321.9 m | 457.1 m | — | — | — | SEC (XBRL)· 07 Mar 2023verified |
| Current assets | 220.4 m | 479.6 m | 516.7 m | 615.7 m | 788.1 m | 1.9 bn | SEC (XBRL)· 25 Feb 2026verified |
| Goodwill | 0 | 76.6 m | 0 | 0 | — | — | SEC (XBRL)· 04 Mar 2024verified |
| Total assets | 3.9 bn | 5.2 bn | 6.0 bn | 6.8 bn | 9.2 bn | 12.4 bn | SEC (XBRL)· 25 Feb 2026verified |
| Accounts payable | 15.0 m | 87.3 m | 104.3 m | 125.0 m | — | — | SEC (XBRL)· 04 Mar 2024verified |
| Long-term debt | 751.1 m | 1.0 bn | 1.2 bn | 1.7 bn | 3.0 bn | 5.5 bn | SEC (XBRL)· 25 Feb 2026verified |
| Current liabilities | 120.7 m | 616.1 m | 893.7 m | 750.3 m | 827.4 m | 1.3 bn | SEC (XBRL)· 25 Feb 2026verified |
| Total liabilities | 1.0 bn | 2.1 bn | 2.7 bn | 3.2 bn | 4.8 bn | 7.3 bn | SEC (XBRL)· 25 Feb 2026verified |
| Equity | — | 694.6 m | 862.3 m | 1.7 bn | 3.1 bn | 5.2 bn | SEC (XBRL)· 25 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 411.0 m | 233.1 m | 1.0 bn | 935.8 m | 1.2 bn | 1.7 bn | SEC (XBRL)· 25 Feb 2026verified |
| Investing cash flow | -124.9 m | -244.6 m | -1.1 bn | -1.4 bn | -1.2 bn | -922.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Financing cash flow | -272.1 m | 105.1 m | -7.8 m | 456.5 m | 207.4 m | -245.1 m | SEC (XBRL)· 25 Feb 2026verified |
| Dividends paid | 0 | 0 | 27.5 m | 34.1 m | 65.1 m | 115.1 m | SEC (XBRL)· 25 Feb 2026verified |
| Share repurchases | 0 | 18.4 m | 0 | 0 | 7.8 m | 33.5 m | SEC (XBRL)· 25 Feb 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 38 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 5.0 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet17
- Valuation43
- Quality55
- Growth45
- Returns43
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 1.25 – 26.23 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDA13.13 – 26.23 (Mid 22.35)13 companies used · median multiple 5.2x · quartiles 3.8x – 5.8xAPA, AR, BKV, CHRD, CRK, EOG, EQT, EXE, FANG, OVV, PHXE-P, REPX, WTI
- Peers: P/E1.25 – 1.85 (Mid 1.46)23 companies used · median multiple 9.9x · quartiles 8.5x – 12.6xAMPY, APA, AR, BKV, CHRD, CRK, DMLP, DVN, EOG, EQT, EXE, GPRK, HESM, INR, KGEI, MXC, OVV, OXY, PR, REPX, SM, TTE, WDS
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 38/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 12.8% | 70 (vs peers) | 14% |
| Net margin · Quality | 1.3% | 30 (vs peers) | 9% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 5.4% | 45 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 1.7x | 14 (vs peers) | 14% |
| Interest coverage · Balance sheet | 3.5x | 31 (on a fixed band) | 9% |
| Current ratio · Balance sheet | 0.7x | 0 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 79.8x | 7 (vs peers) | 14% |
| EV/EBITDA · Valuation | 3.6x | 79 (vs peers) | 14% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 3.0% | 43 (on a fixed band) | 9% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet17/100 · 3/3 factors with a value
- Growth· partial45/100 · 1/2 factors with a value
- Quality55/100 · 2/3 factors with a value
- Returns· partial43/100 · 1/2 factors with a value
- Valuation43/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Crescent Energy Company (CRGY). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 3.6 bn USD in 2025; YoY growth 22.1%; net margin 1.3%; ROE 1.3%; net debt/EBITDA 1.7x.
The estimated value range is 7.19–14.04 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 11.90 USD, the price of 11.73 USD leaves a potential of 1.5% (value / price − 1) and a margin of safety of 1.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 38/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- EV/EBITDA: 3.6x
What contradicts it
- Net margin: 1.3%
- Net debt / EBITDA: 1.7x
- Current ratio: 0.7x
- P/E (TTM): 79.8x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, FCF yield, Payout ratio (FCF).
Versus the vertical median
Crude Petroleum & Natural Gas (SIC 1311) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| TTETotalEnergies SE | 199.6 bn | 15.7 | 11.3% | 6.5% | −6.2% | +38% / +33% |
| EOGEog Resources, Inc. | 77.1 bn | 11.4 | 22.5% | 25.4% | −4.5% | +36% / +19% |
| OXYOccidental Petroleum Corporation | 57.3 bn | 8.6 | 18.9% | 33.7% | −1.9% | +37% / −3% |
| FANGDiamondback Energy, Inc. | 51.1 bn | 25.0 | 5.3% | 11.0% | +35.8% | +20% / +18% |
| DVNDevon Energy Corp | 48.5 bn | 10.5 | 11.5% | 16.7% | +7.8% | +19% / −2% |
| WDSWoodside Energy Group Ltd | 40.9 bn | 15.1 | 7.6% | 20.9% | −1.5% | +31% / +6% |
| EQTEqt Corporation | 32.9 bn | 12.5 | 10.9% | 28.4% | +63.9% | −14% / +31% |
| EXEExpand Energy Corporation | 20.2 bn | 7.6 | 14.6% | 19.8% | +186.3% | −28% / +9% |
| PRPermian Resources Corporation | 18.8 bn | 14.9 | 11.5% | 21.5% | +1.3% | +55% / +71% |
| OVVOvintiv Inc. | 16.8 bn | 12.7 | 12.1% | 12.8% | −2.7% | +53% / +41% |
| APAApa Corporation | 15.6 bn | 9.4 | 25.9% | — | unavailable | +78% / +24% |
| ARAntero Resources Corporation | 11.5 bn | 8.4 | 17.6% | 21.7% | +22.0% | +3% / +58% |
| SMSm Energy Co | 7.3 bn | 7.5 | 15.0% | 13.7% | +17.2% | +63% / −17% |
| CHRDChord Energy Corporation | 7.2 bn | 8.9 | 10.3% | 13.4% | −7.1% | +41% / −18% |
| CRGYCrescent Energy Company | 5.0 bn | 79.8 | 1.3% | 1.3% | +22.1% | +46% / −6% |
| CRCCalifornia Resources Corp | 4.3 bn | — | -15.5% | -18.1% | +14.7% | +1% / −6% |
| HESMHess Midstream LP | 4.1 bn | 10.9 | — | 23.2% | +8.4% | −6% / −2% |
| CRKComstock Resources, Inc. | 3.9 bn | 7.6 | 21.1% | 23.3% | +77.0% | −50% / +36% |
| PHXE-PPhoenix Energy One, LLC | 2.6 bn | 332.2 | 49.7% | 0.7% | +144.4% | +26% / unavailable |
| NOGNorthern Oil And Gas, Inc. | 2.4 bn | — | -22.1% | -25.4% | +11.2% | −1% / −40% |
| BKVBKV Corp | 2.1 bn | 6.8 | 14.1% | 19.5% | +9.9% | −31% / unavailable |
| DMLPDorchester Minerals, L.P. | 1.4 bn | 15.6 | — | 45.5% | −5.4% | +27% / −5% |
| TBNTamboran Resources Corporation | 982.4 m | — | -4.8% | — | unavailable | +18% / unavailable |
| REPXRiley Exploration Permian, Inc. | 948.6 m | 9.2 | 16.8% | 17.3% | −4.4% | +57% / +74% |
| TTITETRA Technologies, Inc. | 917.3 m | 100.8 | 2.5% | 1.4% | +5.3% | −20% / +31% |
1- and 3-year price returns: for CRGY from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 7.00 Total return -40% · Per year -40% | 12.36 Total return 5% · Per year 5% | 18.62 Total return 59% · Per year 59% |
| 3 years | 6.91 Total return -41% · Per year -16% | 13.74 Total return 17% · Per year 5% | 22.69 Total return 93% · Per year 25% |
| 5 years | 6.83 Total return -42% · Per year -10% | 15.26 Total return 30% · Per year 5% | 27.66 Total return 136% · Per year 19% |
- Exit P/E± 3.43
- Net margin± 2.40
- Annual revenue growth± 1.96
- Annual dilution± 0.20
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 03 Aug 2026; since then the company filed 8-K (02 Nov 2026 · results), 10-Q (02 Nov 2026), 8-K (15 Oct 2026 · results), 8-K (08 Oct 2026 · results).
In brief
Crescent Energy is a U.S. energy company producing oil, natural gas and NGLs from the Eagle Ford, Permian and Uinta basins, and it pairs acquisitions with consistent return of capital to shareholders. It matters now because the 2026 conflict with Iran has brought high volatility to energy markets, and its debt position and assets acquired through mergers will be tested by these conditions.12
SWOT
Strengths
- A long-life portfolio combining stable production with a high-quality development inventory, concentrated in areas with well-capitalized operators.
- A clear strategy of disciplined acquisitions and return of capital, which can support long-term financial flexibility.
- Mineral and royalty interests across the principal U.S. basins, providing revenue linked to the activity of other operators.
Weaknesses
- Revenues depend heavily on oil and gas prices, which can be volatile and hard to forecast.
- Integration risks from recent acquisitions and mergers can bring added costs and management distraction.
- Reserve estimates rest on assumptions that may prove inaccurate, which could affect the borrowing base and access to capital.
Opportunities
- If prices stay elevated, the company could fund development and acquisitions on favourable terms.
- Consolidation within existing basins could create scale economies if integration succeeds.
- Refinancing longer-dated debt could lower financing costs if capital markets remain open.
Threats
- Geopolitical conflicts and OPEC+ decisions can trigger sharp price declines, affecting cash flow.
- Inflation, tariffs and high interest rates could raise costs and compress operating margins.
- Constraints in transport and processing infrastructure may limit output and sales in certain areas.
Risks
- Decline in oil and gas priceshigh
A sustained fall in prices could reduce cash flow, borrowing capacity and investment, and in some cases could lead to impairment of assets.1
- Integration of acquisitions and mergersmedium
Integrating assets from Ridgemar and Vital Energy could exceed expectations, bringing extra costs and delays in achieving scale savings.1
- Uncertainty in reserve estimateshigh
Proved reserves depend on assumptions about prices, production and costs. If these prove inaccurate, the value of reserves and the borrowing base could be reduced.1
- Inflation and tariff costsmedium
Higher costs for goods, services and personnel could squeeze margins if they cannot be recovered through selling prices.12
- Access to financing and refinancingmedium
Debt carrying high interest rates and near-term maturities could make refinancing more expensive if capital markets become more restrictive.12
Investment thesis
What would need to be true (bull case)
- If oil prices stay at elevated levels, the company's cash flow could support both capital returns and new acquisitions.
- The Eagle Ford portfolio, operated alongside well-capitalized partners, could offer stable production and predictable long-term development.
- Successful integration of recently acquired assets could generate savings and strengthen the company's position in its basins.
What would break the thesis
- If prices fall after the volatile 2026 period, revenues and cash flow could be affected quickly.
- Reserve estimates and present values depend on assumptions that may differ from outcomes, which could reduce borrowing capacity.
- Inflation, tariffs and infrastructure constraints could raise costs and limit production in certain areas.
What to watch
- Evolution of oil and gas prices amid the Iran conflict and OPEC+ decisionsQ3 2026
- Progress in integrating the Vital Energy and Ridgemar assets and realising scale savings2026
- Level of operating costs and capital expenditure relative to inflation and tariffsnext 10-K
- Debt levels, maturities and refinancing costs, including the 2031 convertible notesQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 03 Aug 2026; since then the company filed 8-K (02 Nov 2026 · results), 10-Q (02 Nov 2026), 8-K (15 Oct 2026 · results), 8-K (08 Oct 2026 · results).
The business
Crescent describes itself as a differentiated energy company pursuing growth through disciplined, returns-driven acquisitions and consistent return of capital. Its long-life portfolio combines stable production with a high-quality development inventory, focused on the Eagle Ford, Permian Basin and Uinta Basin, with a core focus on the Eagle Ford.12 The company also owns mineral and royalty interests across premier U.S. oil and gas basins, primarily operated by large, well-capitalized companies.1
The corporate structure was simplified in April 2025 through the elimination of the Up-C structure, so all common stockholders now hold Class A Common Stock.1 In the same year the company integrated assets from the Ridgemar Acquisition and the Vital Energy Merger, and reorganized part of its debt through exchange offers and new note issues.1
The financing approach relies on long-dated senior notes and a revolving credit facility whose borrowing base is tied to proved reserves. A decline in prices could reduce that borrowing base and therefore financing capacity, which makes capital discipline central to the strategy.1
Segments
Oil and gas production in the Eagle Ford
The Eagle Ford is the core of the business, where the company concentrates development and most of its production, operating alongside large, well-capitalized operators.12
Market context
The official sources describe the market for oil, natural gas and NGLs as volatile, with prices shaped by geopolitical conflicts, OPEC+ decisions and global demand. Tensions around the Strait of Hormuz pushed crude above 100 USD per Bbl at times in 2026, which shows the size of recent swings.2
For proved reserves the company uses a 12-month average price, which can differ from five-year forward curves. The present value of reserves therefore does not necessarily equal their market value, and readers should be cautious when interpreting these figures.1
Trends
- High geopolitical volatilitymixed
Conflicts in Ukraine, the Middle East and, from February 2026, with Iran have created supply risks and risk premiums in energy prices. If tensions persist, revenues could benefit from higher prices, but planning would also face added uncertainty.12
- Inflation and operating costsheadwind
Inflationary pressures and new tariffs can raise the cost of goods, services and labour across the industry. If oil prices do not cover these increases, operating margins could shrink.12
- Monetary policy and the cost of capitalheadwind
The benchmark interest rate was held steady by the Federal Reserve in 2026 after earlier cuts. The cost of financing could influence both investment and the acquisition strategy.2
- Consolidation through acquisitionsmixed
A growth-through-acquisition strategy could open opportunities if attractive assets are found at acceptable prices. Integration, however, remains costly and complex, and failure could weigh on results.1
Competitive position
The analysed sources do not name direct competitors. The company operates alongside several large, well-capitalized operators in the basins where it works, and competition is felt mainly for assets, skilled labour and oilfield services.1
The acquisition market and access to transport infrastructure are areas of indirect competition. Other producers' ability to absorb assets and contract capacity can affect both purchase prices and the company's operating costs.12
- Large well-capitalized operators in the Eagle Ford
The sources mention large operators in Crescent's basins without naming them. They compete for assets and services.
- Operators in the Permian Basin
Activity in the Permian is described as part of the portfolio, with no competing companies named.
- Operators in the Uinta Basin
Transport constraints in the Uinta affect all operators in the area, including the company.
- Oilfield services providers
Competing demand for services and equipment can influence development and production costs.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Intel Announces The GPU D Series For Crescent IslandPhoronix · 12 Oct 2026 · EN
- Devon to Sell Shale Oil Assets to Crescent for $4.2 BillonBloomberg Markets · 08 Oct 2026 · EN
- Intel Media Driver 2026Q3 Introduces Crescent Island SupportPhoronix · 30 Sept 2026 · EN
- AI Bug Fixes, Crescent Island Power Brake & Nouveau Fixes For Linux 7.3-rc5 DRMPhoronix · 26 Sept 2026 · EN
- Iran Red Crescent urges ICC probe into deadly US strike on wedding partyAl Jazeera — World · 03 Sept 2026 · EN
The latest news item in our archive is from 12 Oct 2026; the newest SEC filing is from 02 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report02 Nov 2026
- Current report02 Nov 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report15 Oct 2026Material agreement · Results of operations · Creation of a direct financial obligation · Regulation FD disclosure · Financial statements and exhibits
- Current report09 Oct 2026Regulation FD disclosure · Other events · Financial statements and exhibits
- Current report08 Oct 2026Material agreement · Results of operations · Regulation FD disclosure · Other events · Financial statements and exhibits
- Quarterly report03 Aug 2026
- Current report03 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report08 Jul 2026Results of operations
- Current report22 May 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Quarterly report04 May 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Crescent Energy Company · 25 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Crescent Energy Company · 03 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.