Crescent Energy Co

Listed Company

CRGYCIK 0001866175NYSELarge AcceleratedCrude Petroleum & Natural GasDelawareFY ends Dec 31

Period

FY 2025

Revenue

$3.58B

Net Income

$132.91M

Total Assets

$12.44B

Equity

$5.17B

Shares Out

327.90M

Op. Cash Flow

$1.68B

Business

Crescent Energy Co is a publicly listed company in Crude Petroleum & Natural Gas, incorporated in Delaware. Common stock trades on NYSE under the ticker CRGY.

Auto-generated from company profile

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	3,580	2,931	2,383	3,057	1,477
Lease and asset operating expense	768	632	582	439	244
Workover expense	75	60	58	67	11
Gathering, processing and transportation	409	313	235	—	—
Production and other taxes	219	163	163	238	109
Depreciation, depletion and amortization	1,167	949	676	533	313
Impairment expense	255	162	153	143	0
Exploration expense	17	17	9	3	1
Midstream and other operating expense	117	110	40	14	—
General and administrative expense	472	336	141	85	78
(Gain) loss on sale of assets	−148	−29	0	−5	−9
Total expenses	3,351	2,712	2,058	1,773	993
Income (loss) from operations	229	218	325	1,284	484
Gain (loss) on derivatives	303	−114	167	−677	−866
Interest expense	−298	−216	−146	−96	—
Loss from extinguishment of debt	−29	−59	0	0	—
Other income (expense)	−5	2	−282,000	949,000	120,000
Income (loss) from equity affiliates	2	729,000	−413,000	5	368,000
Total other income (expense)	−28	−387	20	−767	−916
Income (loss) before taxes	202	−169	345	517	−433
Income tax benefit (expense)	−35	31	−23	−36	306,000
Net income (loss)	167	−138	322	481	−432
Less: net (income) loss attributable to noncontrolling interests	−20	1	−472,000	−3	15
Less: net (income) loss attributable to redeemable noncontrolling interests	−14	22	−254	−381	59
Net income (loss) attributable to Crescent Energy	133	−115	68	97	−19

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-07-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	10	133	—	3	0
Restricted cash	726	5	—	261,000	8
Derivative assets current	323	53	—	54	15
Prepaid expenses	46	43	—	40	13
Other current assets	13	12	—	11	29
Total current assets	1,861	788	—	616	517
Proved	13,264	11,471	—	8,574	7,114
Unproved	413	374	—	283	314
Oil and natural gas properties at cost, successful efforts method	13,678	11,846	—	8,858	7,428
Field and other property and equipment, at cost	157	227	—	199	177
Total property, plant and equipment	13,835	12,072	—	9,056	7,605
Less: accumulated depreciation, depletion, amortization and impairment	−3,559	−3,927	—	−2,941	−2,167
Property, plant and equipment, net	10,276	8,145	—	6,116	5,438
Derivative assets noncurrent	3	7	—	8	0
Investments in equity affiliates	8	14	—	6	15
Deferred tax asset	144	0	—	—	—
Other assets	151	207	—	58	50
TOTAL ASSETS	12,443	9,161	—	6,803	6,020
Derivative liabilities current	0	3	—	42	313
Financing lease obligations current	5	4	—	4	3
Other current liabilities	87	62	—	38	25
Total current liabilities	1,259	827	—	750	894
Long-term debt	5,524	3,049	—	1,694	1,248
Derivative liabilities noncurrent	13	38	—	0	64
Asset retirement obligations	383	449	—	418	347
Deferred tax liability	12	370	59	263	147
Financing lease obligations noncurrent	3	4	—	7	7
Other liabilities	83	56	—	35	14
Total liabilities	7,278	4,793	—	3,168	2,721
Commitments and contingencies (Note 12)	—	—	—	—	—
Redeemable noncontrolling interests	0	1,228	—	1,901	2,437
Preferred stock, $0.0001 par value; 500,000,000 shares authorized and 1,000 Series I preferred shares issued and outstanding as of December 31, 2025 and 2024	0	0	—	0	0
Treasury stock, at cost; 7,079,021 and 2,434,484 shares of Class A common stock as of December 31, 2025 and 2024, respectively	−71	−32	—	−17	−18
Additional paid-in capital	5,229	3,227	—	1,627	805
Retained earnings (accumulated deficit)	0	−65	—	95	62
Noncontrolling interests	8	9	—	30	14
Total equity	5,165	3,140	—	1,735	862
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY	12,443	9,161	—	6,803	6,020

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income tax expense (benefit)	36	−36	23	33	−935,000
Net cash (paid) received on settlement of derivatives	82	−36	−154	−779	−535
Non-cash equity-based compensation expense	245	186	83	38	40
Amortization of debt issuance costs, premium and discount	15	13	13	9	8
Settlement of acquired derivative contracts	83	61	−61	−50	0
Other	−29	−33	−24	−7	−928,000
Accounts receivable	69	111	−42	−129	−71
Accounts receivable affiliates	2	−5	573,000	18	−20
Prepaid and other current assets	13	3	−7	−25	40
Accounts payable and accrued liabilities	−32	−128	92	128	31
Accounts payable affiliates	32	−25	21	12	−358,000
Other	−3	−6	8	−13	3
Net cash provided by operating activities	1,680	1,223	936	1,012	233
Development of oil and natural gas properties	−951	−686	−581	−593	−156
Acquisitions of oil and natural gas properties, net of cash acquired	−819	−559	−849	−627	−115
Proceeds from the sale of oil and natural gas properties	847	55	29	93	26
Purchases of restricted investment securities HTM	−23	−7	−12	−9	−9
Maturities of restricted investment securities HTM	23	7	13	7	12
Other	0	−9	3	4	−3
Net cash used in investing activities	−923	−1,198	−1,399	−1,124	−245
Proceeds from the issuance of Senior Notes, after premium, discount and underwriting fees	592	2,075	985	199	491
Repurchase of Senior Notes, including extinguishment costs	−522	−715	0	0	—
Payment of debt issuance costs	−10	−28	−7	−20	−15
Settlement of acquired deferred acquisition consideration	0	−75	0	0	—
Proceeds from the Equity Issuances after underwriting fees	0	331	146	0	0
Payment of costs related to the Equity Issuances	0	−1	−2	0	0
Redeemable noncontrolling interest contributions	0	0	1	6	0
Redeemable noncontrolling interest distributions	0	−293,000	−417,000	−213,000	0
Dividend to Class A common stock	−115	−65	−34	−28	0
Cash distributions to redeemable noncontrolling interests initiated by Class A common stock dividend	−8	−32	−56	−79	0
Cash distributions to redeemable noncontrolling interests initiated by Manager Compensation	−9	−22	−33	−32	0
Cash distributions to redeemable noncontrolling interests initiated by income taxes	−1	−458,000	−798,000	−18	—
Noncontrolling interest distributions	−8	−10	−3	−6	−2
Noncontrolling interest contributions	0	4	2	55,000	35
Cash paid for treasury stock acquired for equity-based compensation tax withholding	−5	−8	−72,000	0	—
Repurchases of Class A common stock	−33	−8	0	0	−18
Other	−4	−4	−4	−5	−318,000
Net cash provided by (used in) financing activities	−245	207	456	−8	105
Net change in cash, cash equivalents and restricted cash	512	232	−7	−120	94

Filings

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