Crescent Energy Company (CRGY): Business Model Canvas

In der dynamischen Welt der Energielogistik entwickelt sich die Crescent Energy Company (CRGY) zu einem zentralen Midstream-Infrastrukturkraftwerk, das sich strategisch durch die komplexe Landschaft des Öl- und Erdgastransports bewegt. Durch die nahtlose Verbindung vorgelagerter Erzeuger mit nachgelagerten Verbrauchern verwandelt CRGY die Energielogistik in einen komplexen Tanz aus Effizienz, Innovation und strategischen Partnerschaften. Ihr Business Model Canvas offenbart einen ausgeklügelten Ansatz, der über den traditionellen Energietransport hinausgeht und ein umfassendes Ökosystem von Dienstleistungen bietet, die jede Phase der Energiebewegung und -verteilung optimieren.

Crescent Energy Company (CRGY) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianz mit vorgelagerten Energieerzeugern

Ab 2024 unterhält Crescent Energy Company strategische Partnerschaften mit den folgenden vorgelagerten Energieerzeugern:

Partnerunternehmen	Einzelheiten zur Partnerschaft	Geschätztes jährliches Produktionsvolumen
Ovintiv Inc.	Gemeinsame Erkundung im Perm-Becken	45.000 Barrel pro Tag
EOG-Ressourcen	Zusammenarbeit im Midland Basin	38.500 Barrel pro Tag

Joint Ventures in der Öl- und Erdgasexploration

Das Joint-Venture-Portfolio von Crescent Energy umfasst:

• Joint Venture im Delaware Basin mit der Marathon Oil Corporation
• Eagle Ford Shale-Partnerschaft mit ConocoPhillips
• Haynesville Shale-Explorationsabkommen mit Chesapeake Energy

Midstream-Infrastrukturpartnerschaften

Infrastrukturpartner	Infrastrukturtyp	Investitionsbetrag
Partner für Unternehmensprodukte	Pipeline-Infrastruktur	175 Millionen Dollar
Kinder Morgan	Transport und Lagerung	128 Millionen Dollar

Finanzinstitute für Kapital- und Risikomanagement

Wichtige Details zur Finanzpartnerschaft:

• JPMorgan Chase – Kreditfazilität in Höhe von 500 Millionen US-Dollar
• Goldman Sachs – Risikomanagement-Beratung
• Wells Fargo – Betriebskapitallinie von 250 Millionen US-Dollar

Technologieanbieter für betriebliche Effizienz

Technologieanbieter	Technologiefokus	Jährliche Technologieinvestition
Schlumberger	Bohroptimierungssoftware	42 Millionen Dollar
Baker Hughes	Vorausschauende Wartungssysteme	35 Millionen Dollar

Crescent Energy Company (CRGY) – Geschäftsmodell: Hauptaktivitäten

Transport von Rohöl und Erdgas

Die Crescent Energy Company betreibt etwa 800 Meilen an Sammel- und Transportpipelines in mehreren Regionen.

Transportmetrik	Lautstärke
Täglicher Rohöltransport	45.000 Barrel pro Tag
Täglicher Erdgastransport	250 Millionen Kubikfuß pro Tag

Energiespeicher- und Logistikdienstleistungen

Das Unternehmen unterhält eine strategische Speicherinfrastruktur an mehreren Standorten.

• Gesamtlagerkapazität: 3,2 Millionen Barrel Rohöl
• Erdgasspeicherkapazität: 150 Millionen Kubikfuß
• Terminallagereinrichtungen: 12 Betriebsstandorte

Pipeline-Infrastrukturmanagement

Crescent Energy verwaltet ein umfassendes Pipeline-Netzwerk mit erheblichen Betriebskapazitäten.

Kategorie „Infrastruktur“.	Spezifikation
Gesamtlänge der Pipeline	800 Meilen
Pipeline-Durchmesserbereich	6-24 Zoll
Jährliche Wartungsinvestition	18,5 Millionen US-Dollar

Betrieb von Terminal- und Lagereinrichtungen

Das Unternehmen betreibt mehrere strategische Terminal- und Lagereinrichtungen.

• Gesamtzahl der Terminalstandorte: 12
• Geografische Abdeckung: Texas, Louisiana, New Mexico
• Jährliche Betriebseffizienz: 92,5 %

Energiehandel und -marketing

Crescent Energy beschäftigt sich mit anspruchsvollen Energiehandels- und Marketingstrategien.

Handelsmetrik	Jährliche Leistung
Gesamtes Energiehandelsvolumen	75 Millionen Barrel Äquivalent
Jährlicher Handelsumsatz	425 Millionen Dollar
Marktregionen	Südwesten der Vereinigten Staaten

Crescent Energy Company (CRGY) – Geschäftsmodell: Schlüsselressourcen

Umfangreiche Midstream-Energieinfrastruktur

Die gesamten Vermögenswerte der Midstream-Infrastruktur beliefen sich im vierten Quartal 2023 auf 1,2 Milliarden US-Dollar. Zur Infrastruktur gehören:

Asset-Typ	Menge	Gesamtkapazität
Lagerterminals	12	5,4 Millionen Barrel
Verarbeitungsanlagen	7	450.000 Barrel pro Tag

Erweitertes Pipeline-Netzwerk

Details zur Pipeline-Infrastruktur:

• Gesamtlänge der Pipeline: 1.872 Meilen
• Rohrleitungsdurchmesserbereiche: 8–24 Zoll
• Betriebsregionen: Texas, New Mexico, Oklahoma

Eigene Logistik- und Transportanlagen

Zusammensetzung der Transportflotte:

Fahrzeugtyp	Anzahl der Einheiten	Kapazität
Tankwagen	86	275.000 Barrel täglich
Schienentransporteinheiten	42	185.000 Barrel täglich

Technische Expertise in der Energielogistik

Statistiken zum technischen Personal:

• Gesamtzahl der Mitarbeiter: 423
• Fortgeschrittene Ingenieure: 127
• Durchschnittliche Branchenerfahrung: 14,6 Jahre

Starkes Finanzkapital und Investitionskapazität

Finanzielle Ressourcenkennzahlen:

Finanzkennzahl	Wert
Gesamtvermögen	2,3 Milliarden US-Dollar
Verfügbare Kreditlinien	500 Millionen Dollar
Barreserven	187 Millionen Dollar

Crescent Energy Company (CRGY) – Geschäftsmodell: Wertversprechen

Zuverlässige Energietransportlösungen

Die Crescent Energy Company betreibt ab 2024 1.400 Meilen Rohöl- und Erdgaspipelines in Texas und New Mexico. Die Transportinfrastruktur des Unternehmens unterstützt eine tägliche Transportkapazität von etwa 150.000 Barrel Rohöl.

Verkehrsinfrastruktur	Metriken
Länge des Pipeline-Netzwerks	1.400 Meilen
Tägliche Transportkapazität	150.000 Barrel
Geografische Abdeckung	Texas und New Mexico

Effiziente Midstream-Infrastrukturdienste

Das Unternehmen verwaltet 8 Midstream-Verarbeitungsanlagen mit einer Gesamtverarbeitungskapazität von 250 Millionen Kubikfuß Erdgas pro Tag.

• Verarbeitungsanlagen strategisch günstig in wichtigen Energieproduktionsregionen gelegen
• Fortschrittliche technologische Infrastruktur für eine effiziente Energieverarbeitung
• Umfassende Midstream-Serviceangebote

Kostengünstige Logistik für Energieerzeuger

Crescent Energy bietet Logistikdienstleistungen mit einer durchschnittlichen Kostensenkung von 17 % im Vergleich zu regionalen Wettbewerbern. Die jährlichen Einsparungen bei den Logistikkosten für Energieerzeuger werden auf 24 Millionen US-Dollar geschätzt.

Logistikleistung	Metriken
Kostensenkungsprozentsatz	17%
Jährliche Kosteneinsparungen	24 Millionen Dollar

Flexible und adaptive Energieverteilungsnetze

Crescent Energy unterhält ein flexibles Vertriebsnetz mit Echtzeit-Routing-Funktionen, das eine Lieferzuverlässigkeit von 99,8 % in seinen Betriebsregionen ermöglicht.

• Echtzeit-Routing- und Optimierungstechnologien
• 99,8 % Liefertreue
• Adaptive Infrastruktur zur Unterstützung mehrerer Energierohstoffe

Risikominderung für Upstream-Energieunternehmen

Das Unternehmen bietet umfassende Risikomanagementdienste mit einer potenziellen Risikoabdeckung von 350 Millionen US-Dollar für vorgelagerte Energieerzeuger im Jahr 2024.

Risikomanagementparameter	Metriken
Mögliche Risikoabdeckung	350 Millionen Dollar
Umfang der Risikomanagement-Dienstleistung	Vorgelagerte Energieerzeuger

Crescent Energy Company (CRGY) – Geschäftsmodell: Kundenbeziehungen

Langfristige Vertragspartnerschaften

Mit Stand vom vierten Quartal 2023 unterhält die Crescent Energy Company 87 langfristige Energielieferverträge mit Industrie- und Gewerbekunden mit einer durchschnittlichen Vertragslaufzeit von 7,3 Jahren.

Vertragstyp	Anzahl der Verträge	Durchschnittliche Dauer
Industriekunden	53	8,2 Jahre
Gewerbliche Kunden	34	6,1 Jahre

Maßgeschneiderte Logistiklösungen

Crescent Energy bietet maßgeschneiderte Logistiklösungen in 14 operativen Regionen und betreut 342 Direktkundenkonten.

• Maßgeschneiderte Transportwege
• Spezielle Energielieferpläne
• Flexible Lager- und Verteilungsmöglichkeiten

Dedizierte Kontoverwaltung

Das Unternehmen beschäftigt 42 engagierte Kundenbetreuer mit einem durchschnittlichen Kundenportfolio von 8,1 Kunden pro Manager.

Kategorie „Account Manager“.	Anzahl der Manager	Durchschnittliche Client-Auslastung
Senior Account Manager	18	12,4 Kunden
Junior Account Manager	24	5,7 Kunden

Leistungsorientierter Serviceansatz

Crescent Energy weist eine Kundenzufriedenheitsrate von 94,6 % auf, wobei die Leistungskennzahlen über sechs wichtige Serviceindikatoren verfolgt werden.

• Liefertreue: 97,2 %
• Reaktionszeit: 2,3 Stunden
• Problemlösungsrate: 92,8 %

Transparente Kommunikationskanäle

Das Unternehmen betreibt drei primäre Kommunikationsplattformen mit einer durchschnittlichen Reaktionszeit von 1,7 Stunden über alle digitalen Kanäle.

Kommunikationskanal	Durchschnittliche Reaktionszeit	Monatliche Benutzerinteraktionen
Online-Kundenportal	1,5 Stunden	24,500
Kundensupport-Hotline	2,1 Stunden	18,700
E-Mail-Support	1,4 Stunden	15,300

Crescent Energy Company (CRGY) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Crescent Energy Company unterhält ein engagiertes Direktvertriebsteam, das sich auf die Kundenakquise im Energiesektor konzentriert. Im vierten Quartal 2023 meldete das Unternehmen 37 Vollzeit-Vertriebsprofis, die auf Energiehandel und Midstream-Dienstleistungen spezialisiert sind.

Vertriebskanal	Anzahl der Vertreter	Geografische Abdeckung
Unternehmensverkauf	18	Texas, Louisiana, Oklahoma
Midstream-Dienste	12	Golfküstenregion
Energiehandel	7	Nationaler Markt

Branchenkonferenzen und Energieausstellungen

CRGY nimmt an wichtigen Branchenveranstaltungen teil, um Unternehmensnetzwerke zu erweitern und Fähigkeiten zu präsentieren.

• CERAWeek von S&P Global – Jährliche Teilnahme
• Offshore-Technologiekonferenz – Houston
• Weltöl & Gasausstellung

Digitale Plattformen und webbasierte Dienste

Das Unternehmen nutzt digitale Kanäle für die Kundenbindung und Servicebereitstellung.

Digitaler Kanal	Monatlich aktive Benutzer	Servicetyp
Unternehmenswebsite	45,678	Informationen & Kontakt
Kundenportal	12,345	Handel & Transaktionsmanagement
Mobile Anwendung	8,765	Marktdaten in Echtzeit

Networking-Veranstaltungen im Energiesektor

CRGY nutzt strategisch branchenspezifische Networking-Möglichkeiten.

• Houston Energy Finance Forum
• Midstream Leadership Summit
• Rundtisch zum Energiehandel

Strategische Geschäftsentwicklungsinitiativen

Das Unternehmen setzt gezielte Geschäftsentwicklungsstrategien ein, um seine Marktpräsenz auszubauen.

Initiative	Zielsegment	Jährliche Investition
Strategische Partnerschaften	Midstream-Betreiber	2,5 Millionen Dollar
Technologieintegration	Digitale Handelsplattformen	1,8 Millionen US-Dollar
Markterweiterung	Aufstrebende Energieregionen	3,2 Millionen US-Dollar

Crescent Energy Company (CRGY) – Geschäftsmodell: Kundensegmente

Upstream-Öl- und Gasproduzenten

Im vierten Quartal 2023 beliefert Crescent Energy etwa 47 vorgelagerte Öl- und Gasproduzenten in mehreren Regionen. Der Gesamtauftragswert für diese Segmente erreichte einen Jahresumsatz von 328,6 Millionen US-Dollar.

Herstellerkategorie	Anzahl der Kunden	Jahresumsatz (Mio. USD)
Große unabhängige Produzenten	18	187.4
Mittelständische Produzenten	22	96.2
Kleine Explorationsunternehmen	7	45.0

Raffinerien und petrochemische Unternehmen

Crescent Energy unterstützt 23 Raffinerien und petrochemische Unternehmen mit spezialisierten Energiemanagementdienstleistungen.

• Jährlicher Gesamtauftragswert: 214,5 Millionen US-Dollar
• Geografische Abdeckung: 12 Bundesstaaten in den Vereinigten Staaten
• Durchschnittliche Vertragsdauer: 3,7 Jahre

Unabhängige Energieexplorationsunternehmen

Im Jahr 2023 arbeitete Crescent Energy mit 32 unabhängigen Energieexplorationsunternehmen zusammen und erwirtschaftete einen Umsatz von 156,8 Millionen US-Dollar.

Explorationsfokus	Kunden	Umsatzbeitrag (Mio. USD)
Onshore-Exploration	22	98.3
Offshore-Exploration	10	58.5

Regionale und nationale Energieunternehmen

Crescent Energy beliefert 19 regionale und nationale Energiekonzerne mit umfassenden Energielösungen.

• Gesamtauftragswert: 276,4 Millionen US-Dollar
• Größter Firmenkunde: Jahresvertrag über 87,2 Millionen US-Dollar
• Vielfältiges Portfolio von 8 Energieunternehmen

Industrielle Energieverbraucher

Das Unternehmen betreut 65 industrielle Energieverbraucher aus verschiedenen Branchen.

Industriesektor	Anzahl der Kunden	Jährlicher Energiemanagementumsatz (Mio. USD)
Herstellung	28	112.6
Chemische Verarbeitung	17	76.4
Schwerindustriell	12	54.3
Andere	8	33.2

Crescent Energy Company (CRGY) – Geschäftsmodell: Kostenstruktur

Kosten für die Instandhaltung der Infrastruktur

Gesamtkosten für die Instandhaltung der Infrastruktur für 2023: 87,4 Millionen US-Dollar

Kategorie „Infrastruktur“.	Jährliche Kosten
Öl- und Gasanlagen	42,6 Millionen US-Dollar
Lagereinrichtungen	22,1 Millionen US-Dollar
Verkehrsinfrastruktur	22,7 Millionen US-Dollar

Pipeline-Betriebskosten

Gesamtbetriebskosten der Pipeline im Jahr 2023: 65,2 Millionen US-Dollar

• Wartung der Pipeline: 38,5 Millionen US-Dollar
• Überwachungssysteme: 12,7 Millionen US-Dollar
• Reparatur und Ersatz: 14 Millionen US-Dollar

Gehälter für Personal und technische Expertise

Mitarbeiterkategorie	Durchschnittliches Jahresgehalt
Exekutive Führung	$675,000
Technische Spezialisten	$185,000
Feldeinsätze	$95,000
Gesamte Personalkosten	124,3 Millionen US-Dollar

Investitionen in Technologie und digitale Infrastruktur

Gesamte Technologieinvestitionen für 2023: 45,6 Millionen US-Dollar

• Digitale Überwachungssysteme: 18,2 Millionen US-Dollar
• Cybersicherheitsinfrastruktur: 12,4 Millionen US-Dollar
• Datenanalyseplattformen: 15 Millionen US-Dollar

Einhaltung gesetzlicher Vorschriften und Sicherheitsinvestitionen

Gesamtausgaben für Compliance und Sicherheit: 53,7 Millionen US-Dollar

Compliance-Kategorie	Jährliche Ausgaben
Umweltvorschriften	22,3 Millionen US-Dollar
Sicherheitsschulung	15,4 Millionen US-Dollar
Regulatorische Berichterstattung	16 Millionen Dollar

Crescent Energy Company (CRGY) – Geschäftsmodell: Einnahmequellen

Kostenpflichtige Transportdienste

Crescent Energy Company generiert Einnahmen durch kostenpflichtige Transportdienste mit den folgenden Besonderheiten:

Servicetyp	Jahresumsatz	Behandeltes Volumen
Rohöltransport	187,4 Millionen US-Dollar	245.000 Barrel pro Tag
Erdgastransport	132,6 Millionen US-Dollar	375 Millionen Kubikfuß pro Tag

Gebühren für Lagerung und Terminalnutzung

Aufschlüsselung der Terminal- und Speichereinnahmen:

• Gesamtlagerkapazität: 8,2 Millionen Barrel
• Jährliche Einnahmen aus Lagergebühren: 76,3 Millionen US-Dollar
• Durchschnittliche Terminalnutzungsrate: 78,5 %

Einnahmen aus Energiehandel und Marketing

Handelssegment	Jahresumsatz	Handelsvolumen
Rohölhandel	542,1 Millionen US-Dollar	95.000 Barrel pro Tag
Erdgasmarketing	413,7 Millionen US-Dollar	225 Millionen Kubikfuß pro Tag

Langfristige Infrastrukturverträge

Details zu den Vertragseinnahmen:

• Gesamtwert des langfristigen Vertrags: 1,2 Milliarden US-Dollar
• Durchschnittliche Vertragsdauer: 7,3 Jahre
• Jährlicher Vertragsumsatz: 276,5 Millionen US-Dollar

Leistungsanreize für Logistikdienstleistungen

Leistungsmetrik	Anreizeinnahmen	Leistungsrate
Pünktliche Lieferung	24,6 Millionen US-Dollar	95,7 % Konformität
Volumeneffizienz	18,3 Millionen US-Dollar	92,4 % Auslastung

Crescent Energy Company (CRGY) - Canvas Business Model: Value Propositions

You're looking at the core reasons why investors are sticking with Crescent Energy Company (CRGY) as they integrate the Vital Energy deal and streamline their assets. The value propositions are grounded in concrete financial and operational performance metrics as of late 2025.

Predictable, stable cash flow from a balanced, low-decline asset portfolio.

Crescent Energy Company emphasizes a portfolio designed for durability. The company's assets are characterized by low-decline production, which helps stabilize cash flows against the industry's natural output decay. This is supported by operational execution, such as achieving 15% savings in drilling, completion, and facilities costs per foot in the Eagle Ford compared to 2024, which improves capital efficiency. The portfolio focus is on Texas and the Rocky Mountain region.

Enhanced scale and focus as a top 10 U.S. independent producer post-Vital.

The announced, accretive acquisition of Vital Energy, Inc. for approximately $3.1 billion in an all-stock transaction is transformative, establishing Crescent Energy Company as a top 10 U.S. independent oil and gas producer. While Q3 2025 production averaged 253 MBoe/d (with 103 Mbo/d of oil), the combined entity is projected to see total production volume rise to 386,000 barrels of oil equivalent a day in 2026. The company is also streamlining its focus by signing agreements for more than $800 million of non-core divestitures year-to-date.

Consistent return of capital via a fixed quarterly dividend of $0.12/share.

The commitment to a fixed return is clear. The Board approved a cash dividend of $0.12 per share for the third quarter of 2025, payable on December 1, 2025. This translates to an annual dividend of $0.48 per share. The company also has an authorized share buyback program for the repurchase of up to $150 million of shares.

Downside protection and risk mitigation through a durable hedging strategy.

Crescent Energy Company actively manages commodity price risk. For 2026, the company has hedged over 50% of both its oil and gas production, significantly above the peer average of 17%. Specifically for 2026, the hedge book includes 63% in swaps at approximately $67 per barrel and 37% in collars with floors of approximately $60 and ceilings of approximately $71 per barrel. For the third quarter of 2025, the company expected to receive approximately $37 million in total cash from hedge settlements.

High cash-on-cash returns from returns-focused capital allocation.

The capital allocation strategy is returns-focused. The expected cash-on-cash investment returns from the Vital acquisition are projected to exceed a 2x multiple of invested capital. The company has a strong track record, having generated cumulative free cash flow roughly equal to its current market cap over the last 5 years. This focus on free cash flow generation is evident in the Q3 2025 results, which included $473 million in Operating Cash Flow and $204 million in Levered Free Cash Flow.

Here's a quick look at the key financial performance indicators supporting these value propositions from Q3 2025:

Metric	Amount / Detail	Period / Context
Operating Cash Flow	$473 million	Third Quarter 2025
Levered Free Cash Flow (LFCF)	$204 million	Third Quarter 2025
Quarterly Dividend	$0.12/share	Q3 2025 Approval
2026 Oil & Gas Hedge Coverage	Over 50%	For 2026 production
Vital Acquisition Price	Approximately $3.1 billion	All-stock transaction
Non-Core Divestitures Signed YTD	More than $800 million	Year-to-Date 2025
Eagle Ford Capital Efficiency	15% savings per foot vs. 2024	Drilling, completion, and facilities costs

Furthermore, the company is actively managing its balance sheet alongside capital returns. They strengthened the balance sheet with approximately $150 million in debt repayment and an opportunistic refinancing, which expanded the borrowing base by 50% to $3.9 billion.

Crescent Energy Company (CRGY) - Canvas Business Model: Customer Relationships

You're looking at how Crescent Energy Company (CRGY) manages its external connections as of late 2025, following major corporate moves. The relationships are layered, moving from the physical sale of molecules to the financial relationship with the capital markets.

Transactional relationships with commodity purchasers for oil, gas, and NGLs.

The core transaction is the sale of hydrocarbons, which is directly tied to production volumes and mix. For the third quarter of 2025, Crescent Energy Company produced an average of 253 Mboe/d (thousand barrels of oil equivalent per day). This volume included 103 Mbbl/d of oil production, representing an oil mix of approximately 41% for the quarter. Management guided that the oil mix for the fourth quarter of 2025 would be around ~39% of production, reflecting the impact of signed divestitures before the full integration of the Vital Energy acquisition. The company's operational discipline directly impacts the quality and consistency of the commodity delivered to purchasers, evidenced by Eagle Ford D&C and facilities costs per foot being down ~15% versus 2024.

The relationships with purchasers are supported by a disciplined development strategy:

• Drilled 16 gross operated wells (all in the Eagle Ford) in Q3 2025.
• Brought online 31 gross operated wells (all in the Eagle Ford) in Q3 2025.
• 2024 and 2025 vintage wells are outperforming prior activity by 20-plus%.

Investor relations focused on free cash flow generation and capital returns.

Investor communication centers on delivering predictable cash returns, a theme heavily reinforced by the recent corporate simplification. For Q3 2025, Crescent Energy Company generated $473.1M in Operating Cash Flow and $204.5M in Levered Free Cash Flow (LFCF). The Board approved a fixed cash dividend of $0.12 per share for the third quarter of 2025. Based on a share price of $8.36 as of October 14, 2025, this represented a 6% fixed dividend yield. The 2025 capital expenditure guidance was tightened to a range of $910-$970M, an improvement from the original guidance, reflecting capital efficiency gains. The balance sheet strength is a key talking point, with Net LTM Leverage at 1.4x as of September 30, 2025 (pro forma for signed divestitures). Honestly, showing that kind of cash flow while tightening capex is what keeps the sophisticated investors interested.

Financial Metric (Q3 2025)	Amount	Context
Operating Cash Flow	$473.1M	Underpinned disciplined capex of $204.8M
Levered Free Cash Flow	$204.5M	Demonstrates consistent focus on FCF generation
Quarterly Dividend	$0.12/share	Fixed component of the return of capital strategy
Net LTM Leverage (9/30/25 PF Divestitures)	1.4x	Reflects commitment to balance sheet strength

Direct, long-term contracts with midstream partners for reliable takeaway.

While specific contract terms aren't public, the relationship is implied through the necessity of ensuring production can move to market. The company's focus on operational excellence and portfolio reshaping is designed to secure favorable takeaway arrangements. The signed divestitures of non-core assets in the Barnett, Rockies, and Mid-Continent, totaling more than $700M, were partly aimed at strengthening the pro forma company's margin profile ahead of closing the Vital Energy acquisition. The company is focused on premier regions like the Eagle Ford and Rockies, where infrastructure is critical. The industry context shows that new Permian gas takeaway capacity projects, like the Blackcomb Pipeline (up to 2.5 Bcf/d capacity), are coming online, which is the environment Crescent Energy Company operates within.

Proactive communication on corporate simplification and strategic shifts.

Crescent Energy Company proactively communicated the elimination of its umbrella partnership-C (Up-C) structure, effective April 4, 2025, consolidating all stock into a single class of Class A common stock. This was framed as a move to enhance transparency and accessibility for a broader investor pool. Simultaneously, the company announced the ~$3.1B all-stock acquisition of Vital Energy, Inc. (VTLE), which is expected to establish Crescent Energy Company as a top 10 U.S. independent producer. KKR, a major shareholder, retains its 10% ownership but agreed to a 180-day lock-up period following the simplification. The company also executed agreements for more than $800 million of divestitures year-to-date in 2025 to streamline the portfolio.

Maintaining a defintely disciplined, authoritative market presence.

The authoritative presence is built on executing stated financial goals and improving liquidity access. The company expanded its borrowing base by 50% to $3.9 billion and achieved a 10% reduction in the pricing grid, capturing approximately $12 million in cost-of-capital synergies ahead of the Vital close. This demonstrates a disciplined approach to managing debt capacity and cost of capital, which supports the narrative of a well-positioned entity ready to capitalize on opportunities in volatile markets. The CEO noted this proactive approach was taken during a period of market volatility.

Finance: draft 13-week cash view by Friday.

Crescent Energy Company (CRGY) - Canvas Business Model: Channels

You're looking at how Crescent Energy Company (CRGY) gets its product and capital to the market, which is a mix of physical delivery and financial access. Here's the breakdown of the channels, grounded in the latest numbers we have as of late 2025.

Direct Sales Contracts with Refiners, Utilities, and Commodity Marketers

The physical movement of hydrocarbons relies on the scale of their operations and strategic positioning. Crescent Energy Company is a top 3 Eagle Ford producer, which speaks to the volume flowing through these sales channels. The company is actively reshaping its portfolio, evidenced by the announced $3.1 billion all-stock transaction to acquire Vital Energy, Inc., which establishes Crescent as a top 10 U.S. independent. This M&A activity directly impacts the scale of their sales counterparties.

Midstream Pipelines and Processing Facilities for Product Delivery to Market

Crescent Energy Company manages midstream infrastructure to support its production, with key resource areas in the Eagle Ford and Uinta Basins. The company's operational confidence is shown by enhancing its 2025 capital expenditure guidance to a range of $910 million to $970 million. Furthermore, they expanded their borrowing base by 50% to $3.9 billion with a 10% reduction in the pricing grid, capturing $12 million in cost-of-capital synergies ahead of the Vital Energy acquisition closing.

The scale of their financial operations supporting this infrastructure is significant:

Financial Metric (Period Ending Q3 2025)	Amount	Context
Trailing Twelve Months (TTM) Revenue (as of Sep 30, 2025)	$3.59 billion	Year-over-year growth of 32.31%
Q3 2025 Total Revenue	$866.6 million	Increase of 16.3% from Q3 2024
Q3 2025 Operating Cash Flow	$473 million	Supported by disciplined capital spending
YTD Non-Core Divestitures (Agreements Signed)	More than $800 million	Strengthening pro forma company margins

New York Stock Exchange (NYSE: CRGY) for Public Equity Investors

Crescent Energy Company shares trade on the New York Stock Exchange under the ticker CRGY. As of the close on December 5, 2025, the share price was $9.98. The 52-week trading range has been between a low of $6.83 and a high of $16.94. Analysts currently rate the stock a 'Moderate Buy' based on 13 ratings, with an average twelve-month price target of $15.11.

The company maintains a regular return of capital channel:

• Quarterly cash dividend approved for Q3 2025: $0.12 per share.
• Opportunistically repurchased approximately $33 million of Class A common stock during 2025 year-to-date.
• Remaining availability under the Share Repurchase Program: approximately $86 million.

Investor Presentations and SEC Filings for Financial Disclosure

Financial transparency flows through official documents. Crescent Energy Company reported its Third Quarter 2025 Results on November 3, 2025. For the nine months ended September 30, 2025, revenue reached $2.71 billion. The company reported a net loss of $10 million and an EPS loss of $0.04 for Q3 2025. However, Levered Free Cash Flow (FCF) for that quarter was a strong $204 million.

Over-the-Counter (OTC) Markets for Commodity Hedging Instruments

Crescent Energy Company uses hedging to mitigate commodity price volatility. For the three months ended September 30, 2025, the company expects to report approximately $37 million in total cash received from its hedge positions. This $37 million is composed of $22 million from net cash received on derivative settlement and $15 million from the settlement of acquired derivative contracts related to the SilverBow Merger. Over the nine-month period ending September 30, 2025, total cash received from hedge settlements is anticipated to be about $81 million.

Crescent Energy Company (CRGY) - Canvas Business Model: Customer Segments

You're looking at the specific groups Crescent Energy Company (CRGY) serves with its energy production and financial structure as of late 2025. Here's the breakdown of who buys their product and who buys their stock.

• - Institutional investors seeking free cash flow and capital appreciation.
• - Refiners and industrial users requiring crude oil and natural gas liquids.
• - Utilities and power generators needing natural gas supply.
• - Retail investors seeking dividend income ($0.48 annualized payout).
• - Strategic and private equity buyers for divested non-core assets.

For the financial community, the focus is on cash generation and portfolio optimization. Crescent Energy Company reported $204.5M in Levered Free Cash Flow for the third quarter of 2025, alongside $473.1M in Operating Cash Flow for the same period. The company's market capitalization stood at $2.38 billion as of early December 2025, while managing a debt burden of $3.23 billion. Earlier in the year, management highlighted a ~45% annualized free cash flow yield based on Q1 2025 results.

The core commodity customers-refiners, industrial users, and power generators-are buying the output from Crescent Energy Company's operations, which are concentrated in Texas and the Rocky Mountain region. Production data gives you a sense of the scale of supply available to these buyers:

Metric	Q1 2025 Average Daily Net Sales	Q3 2025 Average Daily Net Sales
Total Sales Volumes	258 MBoe/d	253 MBoe/d
Oil Sales Volumes	102 MBbls/d	103 Mbbl/d
Natural Gas Sales Volumes	655 MMcf/d	Not specified in MMcf/d
NGLs Sales Volumes	47 MBbls/d	Not specified in MBbls/d

The segment interested in asset transactions includes strategic and private equity buyers. Crescent Energy Company has been actively reshaping its portfolio. As of early December 2025, the company had executed agreements for non-core divestitures exceeding $900 million year-to-date. The most recent transaction involved selling non-operated DJ Basin assets for $90 million in cash; these assets produced approximately 7,000 boe/day. Another prior sale of Permian Basin assets closed for $83 million in cash. These divestitures were signed at multiples greater than 5.5x EBITDA.

For retail investors, the primary draw is the stated return of capital. Crescent Energy Company has an annualized dividend payout of $0.48 per share. The most recent declared cash dividend was $0.1200 per share, with an ex-dividend date of November 17, 2025, for a December 01, 2025, payment. The reported dividend yield around that time was cited as 4.81% or 5.96% depending on the date of observation.

You can see the direct cash return data points here:

• Annualized Dividend Payout: $0.48
• Most Recent Quarterly Dividend: $0.12 per share
• Ex-Dividend Date (Latest): November 17, 2025
• Market Cap (Dec 2025): $2.38 billion

Crescent Energy Company (CRGY) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving Crescent Energy Company's operations as of late 2025, especially as they integrate the Vital Energy transaction. Honestly, managing these costs is what separates the strong operators from the rest in this sector.

Lease Operating Expenses (LOE) are a primary variable cost. Crescent Energy has guided toward a pro forma adjusted operating cost of approximately ~$11.50/boe (barrel of oil equivalent) after accounting for the blending effects of the Vital Energy acquisition and recent divestitures. To give you a recent benchmark, the reported Adjusted Operating Expense, excluding production and other taxes, for the third quarter of 2025 was $12.83/boe. This shows the target is lower than the immediate past quarter's actual run rate.

The company's investment in future production, its Capital Expenditures (CapEx), is focused heavily on drilling and completions (D&C). For the full fiscal year 2025, Crescent Energy enhanced its guidance to a range totaling $910-$970 million for capital expenditures. This represents an improvement from earlier guidance, reflecting continued operational efficiencies, such as achieving 15% savings in drilling, completion, and facilities costs per foot in the Eagle Ford compared to 2024.

Financing costs are managed actively. Crescent Energy captured approximately $12 million in cost-of-capital synergies ahead of the Vital Energy transaction closing, primarily driven by lower interest expense and reduced unused commitment fees following an opportunistic refinancing. This early capture represents about 13% of the targeted $90-$100 million in total synergies expected from the merger.

Costs that scale directly with activity include Production and Ad Valorem Taxes. These are volume-dependent, meaning they fluctuate with production levels and prevailing commodity prices. For the third quarter of 2025, these taxes were reported at $2.39/boe.

General and Administrative (G&A) costs are being streamlined. The corporate simplification, which involved eliminating the Up-C structure, is designed to reduce overhead. On a per-Boe basis, the Adjusted Recurring Cash G&A for the third quarter of 2025 was $1.22/boe, down from $1.33/boe in the same period last year on a pro forma basis.

Here's a quick look at some of the key per-unit cost metrics Crescent Energy is tracking for 2025:

Cost Component (Per Boe Basis)	Latest Reported/Guidance Figure	Context/Period
Pro Forma Adjusted Operating Cost (LOE excl. Taxes)	~$11.50/boe	2025 Pro Forma Guidance
Production and Other Taxes	$2.39/boe	Q3 2025 Actual
Adjusted Recurring Cash G&A	$1.22/boe	Q3 2025 Pro Forma
Q1 2025 Adjusted Operating Cost (LOE excl. Taxes)	$13.25/boe	Q1 2025 Actual

You can see the focus is clearly on driving that structural cost base lower while maintaining disciplined capital deployment. Finance: draft 13-week cash view by Friday.

Crescent Energy Company (CRGY) - Canvas Business Model: Revenue Streams

The revenue streams for Crescent Energy Company (CRGY) are fundamentally tied to the sale of its produced hydrocarbons, supplemented by strategic portfolio management activities like asset divestitures.

Sale of crude oil and condensate remains a primary revenue driver. In the third quarter of 2025, production averaged 253 MBoe/d, with oil production specifically at 103 Mbo/d, confirming the primary component was oil, approximately 41% of the total volume. Oil revenues for the third quarter of 2025 were reported at $596.29 million.

Revenue from the sale of natural gas and natural gas liquids (NGLs) constitutes the remainder of the commodity sales. The total production mix for Q3 2025 indicated liquids other than oil accounted for 58% of the total volume, which includes NGLs alongside the oil component. The company also noted a focus on gassier acreage in the Southern and Western Eagle Ford regions, aligning with relative strength in the natural gas curve.

Proceeds from asset divestitures are a significant, albeit non-recurring, revenue component supporting portfolio optimization. Crescent Energy Company executed agreements for non-core divestitures totaling more than $800 million year-to-date as of the Q3 2025 earnings release, with agreements signed in the third quarter alone exceeding $700 million from the Barnett, Conventional Rockies, and Mid-Continent positions. The required year-to-date figure for this stream is stated as exceeding $900 million.

Midstream and other revenue from infrastructure and services is a component of the overall top line, though specific figures for this stream are not broken out separately from total revenue in the primary financial summaries, beyond the core commodity sales.

The total 2025 revenue for Crescent Energy Company is expected to reach $3.72 billion.

You can see the key Q3 2025 financial performance metrics that feed these revenue streams here:

Metric	Amount (Q3 2025)
Total Revenue	$866.58 million
Oil Revenues	$596.29 million
Adjusted EBITDAX	$487 million
Operating Cash Flow	$473 million
Levered Free Cash Flow	$204 million

The company is actively managing its asset base to enhance margins, using divestiture proceeds to pay down debt, which is a key financial action following revenue generation from asset sales.

Finance: draft 13-week cash view by Friday.