Crescent Energy Company (CRGY): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique de la logistique énergétique, Crescent Energy Company (CRGY) apparaît comme une puissance pivot des infrastructures intermédiaires, naviguant stratégiquement dans le paysage complexe de l'huile et du transport du gaz naturel. En connectant de manière transparente les producteurs en amont avec les consommateurs en aval, CRGY transforme la logistique énergétique en une danse complexe d'efficacité, d'innovation et de partenariats stratégiques. Leur toile de modèle commercial révèle une approche sophistiquée qui va au-delà du transport d'énergie traditionnel, offrant un écosystème complet de services qui optimisent chaque étape du mouvement et de la distribution énergétiques.

Crescent Energy Company (CRGY) - Modèle d'entreprise: partenariats clés

Alliance stratégique avec les producteurs d'énergie en amont

En 2024, Crescent Energy Company entretient des partenariats stratégiques avec les producteurs d'énergie en amont suivants:

Entreprise partenaire	Détails du partenariat	Volume de production annuel estimé
Ovintiv Inc.	Exploration conjointe dans le bassin du Permien	45 000 barils par jour
Ressources EOG	Collaboration du bassin de Midland	38 500 barils par jour

Coentreprises dans l'exploration pétrolière et gazier

Le portefeuille de coentreprise de Crescent Energy comprend:

• Joint de base du bassin du Delaware avec Marathon Oil Corporation
• Eagle Ford Shale Partnership avec ConocoPhillips
• Contrat d'exploration de schiste de Haynesville avec Chesapeake Energy

Partenariats d'infrastructure intermédiaire

Partenaire d'infrastructure	Type d'infrastructure	Montant d'investissement
Partners des produits d'entreprise	Infrastructure de pipeline	175 millions de dollars
Kinder Morgan	Transport et stockage	128 millions de dollars

Institutions financières pour la gestion des capitaux et des risques

Détails clés du partenariat financier:

• JPMorgan Chase - 500 millions de dollars facilité de crédit
• Goldman Sachs - Advisory de gestion des risques
• Wells Fargo - ligne de roulement de 250 millions de dollars

Fournisseurs de technologies pour l'efficacité opérationnelle

Fournisseur de technologie	Focus technologique	Investissement technologique annuel
Schlumberger	Logiciel d'optimisation de forage	42 millions de dollars
Baker Hughes	Systèmes de maintenance prédictive	35 millions de dollars

Crescent Energy Company (CRGY) - Modèle d'entreprise: activités clés

Pétrole brut et transport de gaz naturel

Crescent Energy Company exploite environ 800 miles de pipelines de rassemblement et de transport dans plusieurs régions.

Métrique de transport	Volume
Transport quotidien du pétrole brut	45 000 barils par jour
Transport quotidien du gaz naturel	250 millions de pieds cubes par jour

Services de stockage et de logistique d'énergie

La société maintient une infrastructure de stockage stratégique sur plusieurs emplacements.

• Capacité de stockage totale: 3,2 millions de barils de pétrole brut
• Capacité de stockage du gaz naturel: 150 millions de pieds cubes
• Installations de stockage des terminaux: 12 sites opérationnels

Gestion des infrastructures de pipeline

Crescent Energy gère un réseau complet de pipelines avec des capacités opérationnelles importantes.

Catégorie d'infrastructure	Spécification
Longueur totale du pipeline	800 miles
Diamètre du pipeline	6-24 pouces
Investissement de maintenance annuelle	18,5 millions de dollars

Opérations de terminaux et de stockage

L'entreprise exploite plusieurs installations de terminaux stratégiques et de stockage.

• Emplacements terminaux totaux: 12
• Couverture géographique: Texas, Louisiane, Nouveau-Mexique
• Efficacité opérationnelle annuelle: 92,5%

Trading et marketing d'énergie

Crescent Energy s'engage dans des stratégies sophistiquées de trading d'énergie et de marketing.

Métrique commerciale	Performance annuelle
Volume total de trading d'énergie	75 millions de barils équivalents
Revenus commerciaux annuels	425 millions de dollars
Régions du marché	Sud-ouest des États-Unis

Crescent Energy Company (CRGY) - Modèle d'entreprise: Ressources clés

Infrastructure énergétique étendue

Les actifs d'infrastructure totale du milieu du milieu sont évalués à 1,2 milliard de dollars au quatrième trimestre 2023. L'infrastructure comprend:

Type d'actif	Quantité	Capacité totale
Bornes de stockage	12	5,4 millions de barils
Installations de traitement	7	450 000 barils par jour

Réseau de pipeline avancé

Détails de l'infrastructure des pipelines:

• Longueur totale du pipeline: 1 872 miles
• Plages de diamètre du pipeline: 8-24 pouces
• Régions opérationnelles: Texas, Nouveau-Mexique, Oklahoma

Logistique propriétaire et actifs de transport

Composition de la flotte de transport:

Type de véhicule	Nombre d'unités	Capacité
Camions-citernes	86	275 000 barils par jour
Unités de transport ferroviaire	42	185 000 barils par jour

Expertise technique en logistique énergétique

Statistiques techniques de la main-d'œuvre:

• Total des employés: 423
• Professionnels de génie avancé: 127
• Expérience moyenne de l'industrie: 14,6 ans

Capital financier et capacité d'investissement solides

Mesures de ressources financières:

Métrique financière	Valeur
Actif total	2,3 milliards de dollars
Lignes de crédit disponibles	500 millions de dollars
Réserves en espèces	187 millions de dollars

Crescent Energy Company (CRGY) - Modèle d'entreprise: propositions de valeur

Solutions de transport d'énergie fiables

Crescent Energy Company exploite 1 400 miles de pétrole brut et de gazons de gaz naturel à travers le Texas et le Nouveau-Mexique en 2024. L'infrastructure de transport de la société soutient la capacité de transport quotidienne d'environ 150 000 barils de pétrole brut.

Infrastructure de transport	Métrique
Longueur du réseau de pipeline	1 400 miles
Capacité de transport quotidienne	150 000 barils
Couverture géographique	Texas et au Nouveau-Mexique

Services d'infrastructure intermédiaire efficaces

La société gère 8 installations de transformation en milieu en milieu avec une capacité de traitement combinée de 250 millions de pieds cubes de gaz naturel par jour.

• Installations de traitement stratégiquement situées dans des régions de production d'énergie clés
• Infrastructure technologique avancée pour un traitement énergétique efficace
• Offres complètes de services intermédiaires

Logistique rentable pour les producteurs d'énergie

Crescent Energy fournit aux services logistiques une réduction moyenne des coûts de 17% par rapport aux concurrents régionaux. Économies de coûts logistiques annuelles pour les producteurs d'énergie estimés à 24 millions de dollars.

Performance logistique	Métrique
Pourcentage de réduction des coûts	17%
Économies annuelles	24 millions de dollars

Réseaux de distribution d'énergie flexibles et adaptatifs

Crescent Energy maintient un réseau de distribution flexible avec des capacités de routage en temps réel, permettant une fiabilité de livraison de 99,8% dans ses régions opérationnelles.

• Technologies de routage et d'optimisation en temps réel
• Fiabilité de la livraison à 99,8%
• Infrastructure adaptative soutenant plusieurs produits d'énergie

Atténuation des risques pour les sociétés énergétiques en amont

La société offre des services complets de gestion des risques avec 350 millions de dollars de couverture potentielle des risques pour les producteurs d'énergie en amont en 2024.

Paramètres de gestion des risques	Métrique
Couverture potentielle des risques	350 millions de dollars
Portée du service de gestion des risques	Producteurs d'énergie en amont

Crescent Energy Company (CRGY) - Modèle d'entreprise: relations clients

Partenariats contractuels à long terme

Au quatrième trimestre 2023, Crescent Energy Company entretient 87 contrats d'approvisionnement énergétique à long terme avec des clients industriels et commerciaux, avec une durée de contrat moyenne de 7,3 ans.

Type de contrat	Nombre de contrats	Durée moyenne
Clients industriels	53	8,2 ans
Clients commerciaux	34	6,1 ans

Solutions logistiques personnalisées

L'énergie du croissant fournit Solutions logistiques sur mesure dans 14 régions opérationnelles, desservant 342 comptes clients directs.

• Voies de transport personnalisées
• Horaires de livraison d'énergie spécialisés
• Options de stockage et de distribution flexibles

Gestion de compte dédiée

La société emploie 42 gestionnaires de comptes dédiés, avec un portefeuille client moyen de 8,1 comptes par gestionnaire.

Catégorie de gestionnaire de compte	Nombre de gestionnaires	Charge du client moyen
Sentiels de compte senior	18	12.4 clients
Gestionnaires de compte junior	24	5.7 clients

Approche de service axée sur les performances

Crescent Energy maintient un taux de satisfaction client de 94,6%, avec des mesures de performance suivis sur 6 indicateurs de service clés.

• Fiabilité de la livraison: 97,2%
• Temps de réponse: 2,3 heures
• Taux de résolution des problèmes: 92,8%

Canaux de communication transparents

La société exploite 3 plates-formes de communication primaires avec un temps de réponse moyen de 1,7 heure sur les canaux numériques.

Canal de communication	Temps de réponse moyen	Interactions mensuelles utilisateur
Portail client en ligne	1,5 heures	24,500
Hotline du support client	2,1 heures	18,700
Assistance par e-mail	1,4 heures	15,300

Crescent Energy Company (CRGY) - Modèle d'entreprise: canaux

Équipe de vente directe

Crescent Energy Company maintient une équipe de vente directe dédiée axée sur l'acquisition du client du secteur de l'énergie. Au quatrième trimestre 2023, la société a signalé 37 professionnels de la vente à temps plein spécialisés dans le commerce d'énergie et les services intermédiaires.

Canal de vente	Nombre de représentants	Couverture géographique
Ventes d'entreprise	18	Texas, Louisiane, Oklahoma
Services intermédiaires	12	Région de la côte du golfe
Trading d'énergie	7	Marché national

Conférences de l'industrie et expositions d'énergie

CRGY participe à des événements clés de l'industrie pour étendre les réseaux commerciaux et présenter les capacités.

• Ceraweek par S&P Global - Participation annuelle
• Conférence de technologie offshore - Houston
• Huile mondiale & Exposition de gaz

Plateformes numériques et services Web

L'entreprise tire parti des canaux numériques pour l'engagement des clients et la prestation de services.

Canal numérique	Utilisateurs actifs mensuels	Type de service
Site Web de l'entreprise	45,678	Information & Contact
Portail client	12,345	Commerce & Gestion des transactions
Application mobile	8,765	Données de marché en temps réel

Événements de réseautage du secteur de l'énergie

CRGY se livre stratégiquement dans des opportunités de réseautage spécifiques au secteur.

• Houston Energy Finance Forum
• Sommet de leadership intermédiaire
• Table ronde de trading d'énergie

Initiatives stratégiques de développement commercial

L'entreprise utilise des stratégies de développement commercial ciblées pour étendre la présence du marché.

Initiative	Segment cible	Investissement annuel
Partenariats stratégiques	Opérateurs en milieu de route	2,5 millions de dollars
Intégration technologique	Plateformes de trading numérique	1,8 million de dollars
Extension du marché	Régions énergétiques émergentes	3,2 millions de dollars

Crescent Energy Company (CRGY) - Modèle d'entreprise: segments de clientèle

Producteurs de pétrole et de gaz en amont

Depuis le quatrième trimestre 2023, Crescent Energy dessert environ 47 producteurs de pétrole et de gaz en amont dans plusieurs régions. La valeur totale du contrat pour ces segments a atteint 328,6 millions de dollars de revenus annuels.

Catégorie des producteurs	Nombre de clients	Revenus annuels ($ m)
Grands producteurs indépendants	18	187.4
Producteurs de taille moyenne	22	96.2
Petites entreprises d'exploration	7	45.0

Raffineries et sociétés pétrochimiques

Crescent Energy soutient 23 raffineries et sociétés pétrochimiques avec des services de gestion de l'énergie spécialisés.

• Valeur du contrat annuel total: 214,5 millions de dollars
• Couverture géographique: 12 États aux États-Unis
• Durée du contrat moyen: 3,7 ans

Entreprises d'exploration d'énergie indépendantes

En 2023, Crescent Energy s'est engagé dans 32 entreprises indépendantes d'exploration d'énergie, générant 156,8 millions de dollars de revenus.

Focus d'exploration	Clients	Contribution des revenus ($ m)
Exploration à terre	22	98.3
Exploration offshore	10	58.5

Corporations énergétiques régionales et nationales

Crescent Energy dessert 19 sociétés énergétiques régionales et nationales avec des solutions d'énergie complètes.

• Valeur totale du contrat: 276,4 millions de dollars
• Client d'entreprise plus grand: contrat annuel de 87,2 millions de dollars
• Portfolio diversifié dans 8 sociétés énergétiques

Consommateurs d'énergie industrielle

La société soutient 65 consommateurs d'énergie industrielle dans divers secteurs.

Secteur de l'industrie	Nombre de clients	Revenus annuels de gestion de l'énergie ($ m)
Fabrication	28	112.6
Traitement chimique	17	76.4
Industriel lourd	12	54.3
Autres	8	33.2

Crescent Energy Company (CRGY) - Modèle d'entreprise: Structure des coûts

Frais de maintenance des infrastructures

Total des coûts de maintenance des infrastructures pour 2023: 87,4 millions de dollars

Catégorie d'infrastructure	Coût annuel
Installations de pétrole et de gaz	42,6 millions de dollars
Installations de stockage	22,1 millions de dollars
Infrastructure de transport	22,7 millions de dollars

Coûts opérationnels de pipeline

Total des dépenses opérationnelles du pipeline en 2023: 65,2 millions de dollars

• Entretien des pipelines: 38,5 millions de dollars
• Systèmes de surveillance: 12,7 millions de dollars
• Réparation et remplacement: 14 millions de dollars

Salaires du personnel et de l'expertise technique

Catégorie des employés	Salaire annuel moyen
Leadership exécutif	$675,000
Spécialistes techniques	$185,000
Opérations sur le terrain	$95,000
Total des coûts du personnel	124,3 millions de dollars

Investissements technologiques et infrastructures numériques

Investissement total technologique pour 2023: 45,6 millions de dollars

• Systèmes de surveillance numérique: 18,2 millions de dollars
• Infrastructure de cybersécurité: 12,4 millions de dollars
• Plateformes d'analyse de données: 15 millions de dollars

Conformité réglementaire et investissements de sécurité

Compliance totale et dépenses de sécurité: 53,7 millions de dollars

Catégorie de conformité	Dépenses annuelles
Règlements environnementaux	22,3 millions de dollars
Formation à la sécurité	15,4 millions de dollars
Représentation réglementaire	16 millions de dollars

Crescent Energy Company (CRGY) - Modèle d'entreprise: Strots de revenus

Services basés sur les frais de transport

Crescent Energy Company génère des revenus grâce à des services basés sur les frais de transport avec les détails suivants:

Type de service	Revenus annuels	Volume géré
Transport de pétrole brut	187,4 millions de dollars	245 000 barils par jour
Transport de gaz naturel	132,6 millions de dollars	375 millions de pieds cubes par jour

Frais de stockage et d'utilisation des terminaux

Répartition des revenus du terminal et du stockage:

• Capacité de stockage totale: 8,2 millions de barils
• Revenus de frais de stockage annuels: 76,3 millions de dollars
• Taux d'utilisation du terminal moyen: 78,5%

Revenus de trading et de commercialisation de l'énergie

Segment commercial	Revenus annuels	Volume de trading
Trading de pétrole brut	542,1 millions de dollars	95 000 barils par jour
Marketing au gaz naturel	413,7 millions de dollars	225 millions de pieds cubes par jour

Contrats d'infrastructure à long terme

Détails des revenus du contrat:

• Valeur du contrat à long terme total: 1,2 milliard de dollars
• Durée du contrat moyen: 7,3 ans
• Revenu du contrat annuel: 276,5 millions de dollars

Incitations de performance du service logistique

Métrique de performance	Revenus incitatifs	Taux de performance
Livraison à temps	24,6 millions de dollars	95,7% de conformité
Efficacité volumique	18,3 millions de dollars	Utilisation de 92,4%

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.