Announcement • Dec 16

Crescent Energy Company (NYSE:CRGY) completed the acquisition of Vital Energy, Inc. (NYSE:VTLE).

Crescent Energy Company (NYSE:CRGY) entered into a definitive agreement to acquire Vital Energy, Inc. (NYSE:VTLE) for approximately $760 million on August 24, 2025. Crescent will acquire Vital in an all-stock transaction valued at approximately $3.1 billion, inclusive of Vital’s net debt. Under the terms of the Agreement, Vital shareholders will receive 1.9062 shares of Crescent Class A common stock for each share of Vital common stock. Following the consummation of the Transaction, Crescent shareholders will own approximately 77% of the combined company and Vital shareholders will own approximately 23% of the combined company, on a fully diluted basis. The Combined company will retain the name Crescent Energy Company and will remain headquartered in Houston, Texas. After closing of the Transaction, the Crescent board of directors will increase to 12 members with the addition of 2 directors to be designated by Vital. John Goff will continue to serve as Non-Executive Chairman and David Rockecharlie will continue to serve as Chief Executive Officer of the combined company. Crescent will remain headquartered in Houston. Incase of termination, Vital will be required to pay the Crescent a termination fee in the amount equal to $76.9 million and $22.5 will be required to be paid by Crescent to Vital. The completion of the Mergers is subject to certain customary mutual conditions, including (i) the receipt of the required approval from Parent Stockholders (the “Parent Stockholder Approval”), (ii) the receipt of the required approval from the Company Stockholders (the “Company Stockholder Approval”), (iii) the termination or expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”), (iv) the absence of any governmental order or law that makes consummation of the Mergers illegal or otherwise prohibited, (v) Parent’s registration statement on Form S-4 having been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended (the “Securities Act”) and no stop order having been issued, initiated or, to the knowledge of Parent or the Company, threatened by the SEC, and (vi) the shares of Parent Common Stock issuable in connection with the Mergers having been authorized for listing on the New York Stock Exchange, subject to official notice of issuance. The obligation of each party to consummate the Mergers is further conditioned upon certain of the parties’ representations and warranties being true and correct (subject to certain materiality exceptions), the absence of a material adverse effect on each party, the parties having performed in all material respects their respective obligations under the Merger Agreement, and the receipt by each party of a compliance certificate. The Transaction has been unanimously approved by the boards of directors of both companies and unanimously approved by a special committee of independent directors of Crescent. Current Crescent and Vital shareholders representing approximately 29% and 20% of total common shares outstanding, respectively, are party to voting and/or existing investor agreements serving to support the Transaction in line with the unanimous recommendation of both Boards. The transaction is highly accretive across CFFO, FCF and NAV per share. As on December 12, 2025, the transaction has been approved by Vital Energy shareholders. Jefferies LLC and Evercore Inc. (NYSE:EVR) is also serving as a financial advisor, Douglas E. Bacon, P.C., Kyle M. Watson, P.C. and Gabrielle Sumich, Chris Heasley, P.C Shawn Beloin, Anthony Sanderson, Michelle Williamson, Mark Dundon, Joe Tobias of Kirkland & Ellis LLP is serving as legal advisor to Crescent Energy Company. Intrepid Partners, LLC is serving as financial advisor and Richards, Layton & Finger, P.A. is serving as counsel for the Special Committee of Crescent Energy Company. Houlihan Lokey,J.P. Morgan Securities LLC and Lazard are acting as financial advisors, Evan Miller, Hill Wellford, Jackson A. O'Maley, David Harry Stone, Bryan E. Loocke, Matthew Dobbins, Darin W. Schultz, Sean Becker, Regina K. Ibarra, David C. D'Alessandro, Brian M. Russell, Lina G. Dimachkieh, Thomas G. Zentner III, Lande Alexandra Spottswood and Douglas E. McWilliams of Vinson & Elkins LLP is serving as legal advisor to Vital Energy, Inc. Hillary Holmes of Gibson Dunn acted as legal advisor to Houlihan Lokey. Crescent Energy Company (NYSE:CRGY) completed the acquisition of Vital Energy, Inc. (NYSE:VTLE) on December 15, 2025.

Announcement • Aug 25

Crescent Energy Company (NYSE:CRGY) entered into a definitive agreement to acquire Vital Energy, Inc. (NYSE:VTLE) for approximately $760 million.

Crescent Energy Company (NYSE:CRGY) entered into a definitive agreement to acquire Vital Energy, Inc. (NYSE:VTLE) for approximately $760 million on August 24, 2025. Crescent will acquire Vital in an all-stock transaction valued at approximately $3.1 billion, inclusive of Vital’s net debt. Under the terms of the Agreement, Vital shareholders will receive 1.9062 shares of Crescent Class A common stock for each share of Vital common stock. Following the consummation of the Transaction, Crescent shareholders will own approximately 77% of the combined company and Vital shareholders will own approximately 23% of the combined company, on a fully diluted basis. The Combined company will retain the name Crescent Energy Company and will remain headquartered in Houston, Texas. After closing of the Transaction, the Crescent board of directors will increase to 12 members with the addition of 2 directors to be designated by Vital. John Goff will continue to serve as Non-Executive Chairman and David Rockecharlie will continue to serve as Chief Executive Officer of the combined company. Crescent will remain headquartered in Houston. Incase of termination, Vital will be required to pay the Crescent a termination fee in the amount equal to $76.9 million and $22.5 will be required to be paid by Crescent to Vital. The completion of the Mergers is subject to certain customary mutual conditions, including (i) the receipt of the required approval from Parent Stockholders (the “Parent Stockholder Approval”), (ii) the receipt of the required approval from the Company Stockholders (the “Company Stockholder Approval”), (iii) the termination or expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”), (iv) the absence of any governmental order or law that makes consummation of the Mergers illegal or otherwise prohibited, (v) Parent’s registration statement on Form S-4 having been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended (the “Securities Act”) and no stop order having been issued, initiated or, to the knowledge of Parent or the Company, threatened by the SEC, and (vi) the shares of Parent Common Stock issuable in connection with the Mergers having been authorized for listing on the New York Stock Exchange, subject to official notice of issuance. The obligation of each party to consummate the Mergers is further conditioned upon certain of the parties’ representations and warranties being true and correct (subject to certain materiality exceptions), the absence of a material adverse effect on each party, the parties having performed in all material respects their respective obligations under the Merger Agreement, and the receipt by each party of a compliance certificate. The Transaction has been unanimously approved by the boards of directors of both companies and unanimously approved by a special committee of independent directors of Crescent. Current Crescent and Vital shareholders representing approximately 29% and 20% of total common shares outstanding, respectively, are party to voting and/or existing investor agreements serving to support the Transaction in line with the unanimous recommendation of both Boards. The transaction is highly accretive across CFFO, FCF and NAV per share. Jefferies LLC and Evercore Inc. (NYSE:EVR) is also serving as a financial advisor, Douglas E. Bacon, P.C., Kyle M. Watson, P.C. and Gabrielle Sumich of Kirkland & Ellis LLP is serving as legal advisor to Crescent Energy Company. Intrepid Partners, LLC is serving as financial advisor and Richards, Layton & Finger, P.A. is serving as counsel for the Special Committee of Crescent Energy Company. Houlihan Lokey,J.P. Morgan Securities LLC and Lazard are acting as financial advisors, Douglas E. McWilliams and Lande Spottswood of Vinson & Elkins LLP is serving as legal advisor to Vital Energy, Inc.

Snowflake Score
Valuation	6/6
Future Growth	3/6
Past Performance	0/6
Financial Health	2/6
Dividends	3/6

Historical stock prices
Current Share Price	US$9.41
52 Week High	US$14.29
52 Week Low	US$7.68
Beta	0.91
1 Month Change	-18.46%
3 Month Change	-26.31%
1 Year Change	0.32%
3 Year Change	-11.73%
5 Year Change	n/a
Change since IPO	-44.05%

	CRGY	US Oil and Gas	US Market
7D	-4.2%	-0.3%	0.8%
1Y	0.3%	18.5%	20.2%

CRGY volatility
CRGY Average Weekly Movement	6.2%
Oil and Gas Industry Average Movement	6.2%
Market Average Movement	7.3%
10% most volatile stocks in US Market	16.7%
10% least volatile stocks in US Market	3.2%

CRGY fundamental statistics
Market cap	US$3.02b
Earnings (TTM)	-US$284.79m
Revenue (TTM)	US$3.81b

CRGY income statement (TTM)
Revenue	US$3.81b
Cost of Revenue	US$1.61b
Gross Profit	US$2.20b
Other Expenses	US$2.48b
Earnings	-US$284.79m

Earnings per share (EPS)	-0.86
Gross Margin	57.69%
Net Profit Margin	-7.47%
Debt/Equity Ratio	111.8%

Data	Last Updated (UTC time)
Company Analysis	2026/07/07 22:20
End of Day Share Price	2026/07/07 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Phillip Jungwirth	BMO Capital Markets Equity Research
Randy Ollenberger	BMO Capital Markets Equity Research
John Abbott	BofA Global Research

Crescent Energy (CRGY) Stock Overview

Rewards

Risk Analysis

Analyst Price Targets

Global Energy Demand Will Drive Uinta Basin Production

Global Energy Demand And Automation Will Fuel Efficiency

Stricter Climate Policies Will Burden Oil Operations Yet Support Resilience

Top Analyst Narratives

Global Energy Demand Will Drive Uinta Basin Production

Global Energy Demand And Automation Will Fuel Efficiency

Stricter Climate Policies Will Burden Oil Operations Yet Support Resilience

Crescent Energy Company Competitors

Talos Energy

Mach Natural Resources

California Resources

Gulfport Energy

Price History & Performance

Recent News & Updates

Crescent Energy: The Free Cash Flow Doesn't Lie - This One Is Way Too Cheap To Ignore

CRGY: Future Oil Price Decks And Refining Cracks Are Expected To Unlock Upside

CRGY: Vital Deal And Permian Synergies Will Support Future Free Cash Flow

Crescent Energy Stock: Record Production and Permian Integration Drive Q1 2026 Results

Crescent Energy (CRGY) Stock Could Be 17% Undervalued After Oil Fell On Iran Peace Deal

Crescent Energy Target Set at $19 After $3.1b Deal and Analyst Upgrades

Recent updates

Crescent Energy: The Free Cash Flow Doesn't Lie - This One Is Way Too Cheap To Ignore

CRGY: Future Oil Price Decks And Refining Cracks Are Expected To Unlock Upside

CRGY: Vital Deal And Permian Synergies Will Support Future Free Cash Flow

Crescent Energy Stock: Record Production and Permian Integration Drive Q1 2026 Results

Crescent Energy (CRGY) Stock Could Be 17% Undervalued After Oil Fell On Iran Peace Deal

Crescent Energy Target Set at $19 After $3.1b Deal and Analyst Upgrades

CRGY: Higher Oil Decks And Capital Efficiency Are Set To Reprice Shares

First quarter dividend of US$0.12 announced

First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind

Consensus EPS estimates have been downgraded.

CRGY: Higher Oil Price Decks And Royalties Are Expected To Unlock Upside

Consensus EPS estimates increase by 14%

CRGY: Capital Efficiency And Royalties Are Expected To Unlock Future Upside

Crescent Energy Company to Report Q1, 2026 Results on May 04, 2026

Consensus revenue estimates increase by 11%

CRGY: Capital Efficiency And Royalties Are Expected To Drive 2026 Execution

CRGY: Future Capital Efficiency Gains Will Not Offset Transition Year Risks

Consensus EPS estimates fall by 30%, revenue upgraded

Price target increased by 9.2% to US$14.43

CRGY: Streamlined Assets And Cost Discipline Will Support 2026 Transition Execution

Fourth quarter dividend of US$0.12 announced

Full year 2025 earnings: EPS misses analyst expectations

CRGY: Streamlined Assets And Cost Discipline Will Support Post 2026 Transition Upside

Crescent Energy Company's (NYSE:CRGY) Shares Leap 31% Yet They're Still Not Telling The Full Story

CRGY: Leaner Asset Base And 2026 Transition Year Will Unlock Upside

CRGY: Streamlined Assets And Higher Margins Will Support Post 2026 Transition Upside

Crescent Energy Company to Report Q4, 2025 Results on Feb 25, 2026

New minor risk - Shareholder dilution

CRGY: Streamlined Asset Base And Higher Margins Will Support Future Upside

CRGY: December Meeting Will Unlock Shareholder Upside Despite Modest Margin And Buyback Shifts

Crescent Energy Company (NYSE:CRGY) completed the acquisition of Vital Energy, Inc. (NYSE:VTLE).

Crescent Energy Company Announces Changes to Board of Directors

CRGY: Rising Profit Margins Will Drive Shareholder Value After December 2025 Meeting

CRGY: Rising Profit Margins Will Drive Shareholder Value After 2025 Meeting

CRGY: Acquisition Deal Will Drive Expansion Opportunities In The Permian Basin

Crescent Energy (NYSE:CRGY) Is Paying Out A Dividend Of $0.12

Third quarter dividend of US$0.12 announced

Third quarter 2025 earnings: EPS and revenues miss analyst expectations

Consensus EPS estimates fall by 14%

Crescent Energy Company to Report Q3, 2025 Results on Nov 03, 2025

Price target increased by 7.4% to US$15.36

Global Energy Demand Will Drive Uinta Basin Production

Consensus EPS estimates increase by 11%

Crescent Energy Company (NYSE:CRGY) entered into a definitive agreement to acquire Vital Energy, Inc. (NYSE:VTLE) for approximately $760 million.

Crescent Energy (NYSE:CRGY) Is Due To Pay A Dividend Of $0.12

Second quarter dividend of US$0.12 announced

Crescent Energy Company Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

Second quarter 2025 earnings: EPS and revenues exceed analyst expectations

Crescent Energy Company to Report Q2, 2025 Results on Aug 04, 2025

Crescent Energy Company(NYSE:CRGY) dropped from Russell Small Cap Comp Growth Index

Crescent Energy (NYSE:CRGY) Will Pay A Dividend Of $0.12

First quarter dividend of US$0.12 announced

Crescent Energy Reportedly Weighs Asset Sales to Focus on Eagle Ford, Uinta Basins

New major risk - Shareholder dilution

First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind