Crescent Energy Company (CRGY): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da logística de energia, a Crescent Energy Company (CRGY) surge como uma potência fundamental da infraestrutura do meio do meio, navegando estrategicamente no cenário complexo do transporte de petróleo e gás natural. Ao conectar perfeitamente os produtores upstream com consumidores a jusante, a CRGY transforma a logística de energia em uma dança intrincada de eficiência, inovação e parcerias estratégicas. Seu modelo de negócios Canvas revela uma abordagem sofisticada que vai além do transporte energético tradicional, oferecendo um ecossistema abrangente de serviços que otimizam todos os estágios do movimento e distribuição energética.

Crescent Energy Company (CRGY) - Modelo de Negócios: Principais Parcerias

Aliança estratégica com produtores de energia a montante

A partir de 2024, a Crescent Energy Company mantém parcerias estratégicas com os seguintes produtores de energia a montante:

Empresa parceira	Detalhes da parceria	Volume de produção anual estimado
Ovintiv Inc.	Exploração conjunta na bacia do Permiano	45.000 barris por dia
Recursos EOG	Colaboração da Bacia de Midland	38.500 barris por dia

Joint ventures em exploração de petróleo e gás natural

O portfólio de joint venture da Crescent Energy inclui:

• Delaware Basin Joint Venture com Marathon Oil Corporation
• Eagle Ford Shale Parceria com ConocoPhillips
• Contrato de exploração de xisto de Haynesville com a Chesapeake Energy

Parcerias de infraestrutura do meio da corrente

Parceiro de infraestrutura	Tipo de infraestrutura	Valor do investimento
Enterprise Products Partners	Infraestrutura de pipeline	US $ 175 milhões
Morgan mais gentil	Transporte e armazenamento	US $ 128 milhões

Instituições financeiras para gerenciamento de capital e riscos

Detalhes da parceria financeira -chave:

• JPMorgan Chase - Linha de crédito de US $ 500 milhões
• Goldman Sachs - Aviso de Gerenciamento de Riscos
• Wells Fargo - Linha de capital de giro de US $ 250 milhões

Provedores de tecnologia para eficiência operacional

Provedor de tecnologia	Foco em tecnologia	Investimento de tecnologia anual
Schlumberger	Software de otimização de perfuração	US $ 42 milhões
Baker Hughes	Sistemas de manutenção preditivos	US $ 35 milhões

Crescent Energy Company (CRGY) - Modelo de negócios: Atividades -chave

O petróleo bruto e transporte de gás natural

A Crescent Energy Company opera aproximadamente 800 milhas de oleodutos de coleta e transporte em várias regiões.

Métrica de transporte	Volume
Transporte diário de petróleo bruto	45.000 barris por dia
Transporte diário de gás natural	250 milhões de pés cúbicos por dia

Serviços de armazenamento e logística de energia

A empresa mantém a infraestrutura estratégica de armazenamento em vários locais.

• Capacidade total de armazenamento: 3,2 milhões de barris de petróleo bruto
• Capacidade de armazenamento de gás natural: 150 milhões de pés cúbicos
• Instalações de armazenamento de terminais: 12 locais operacionais

Gerenciamento de infraestrutura de pipeline

A Crescent Energy gerencia uma rede abrangente de oleodutos com recursos operacionais significativos.

Categoria de infraestrutura	Especificação
Comprimento total do pipeline	800 milhas
Faixa de diâmetro do pipeline	6-24 polegadas
Investimento anual de manutenção	US $ 18,5 milhões

Operações de terminais e instalações de armazenamento

A empresa opera várias instalações estratégicas de terminal e armazenamento.

• Locais totais do terminal: 12
• Cobertura geográfica: Texas, Louisiana, Novo México
• Eficiência operacional anual: 92,5%

Negociação de energia e marketing

A Crescent Energy se envolve em estratégias sofisticadas de negociação e marketing.

Métrica de negociação	Desempenho anual
Volume total de negociação de energia	75 milhões de barris equivalentes
Receita de negociação anual	US $ 425 milhões
Regiões de mercado	Sudoeste dos Estados Unidos

Crescent Energy Company (CRGY) - Modelo de negócios: Recursos -chave

Extensa infraestrutura de energia média

Os ativos totais de infraestrutura média no meio do valor avaliados em US $ 1,2 bilhão a partir do quarto trimestre 2023. A infraestrutura inclui:

Tipo de ativo	Quantidade	Capacidade total
Terminais de armazenamento	12	5,4 milhões de barris
Instalações de processamento	7	450.000 barris por dia

Rede avançada de pipeline

Detalhes da infraestrutura do pipeline:

• Comprimento total do oleoduto: 1.872 milhas
• Diâmetro do oleoduto Ranges: 8-24 polegadas
• Regiões operacionais: Texas, Novo México, Oklahoma

Ativos de logística e transporte proprietários

Composição da frota de transporte:

Tipo de veículo	Número de unidades	Capacidade
Caminhões -tanques	86	275.000 barris por dia
Unidades de transporte ferroviário	42	185.000 barris por dia

Experiência técnica em logística de energia

Estatísticas técnicas da força de trabalho:

• Total de funcionários: 423
• Profissionais avançados de engenharia: 127
• Experiência média da indústria: 14,6 anos

Forte capital financeiro e capacidade de investimento

Métricas de recursos financeiros:

Métrica financeira	Valor
Total de ativos	US $ 2,3 bilhões
Linhas de crédito disponíveis	US $ 500 milhões
Reservas de caixa	US $ 187 milhões

Crescent Energy Company (CRGY) - Modelo de negócios: proposições de valor

Soluções confiáveis ​​de transporte energético

A Crescent Energy Company opera 1.400 milhas de oleodutos de petróleo e gás natural em todo o Texas e Novo México a partir de 2024. A infraestrutura de transporte da empresa suporta a capacidade diária de transporte de aproximadamente 150.000 barris de petróleo bruto.

Infraestrutura de transporte	Métricas
Comprimento da rede de pipeline	1.400 milhas
Capacidade diária de transporte	150.000 barris
Cobertura geográfica	Texas e Novo México

Serviços de infraestrutura eficientes de infraestrutura média

A empresa gerencia 8 instalações de processamento médio com capacidade de processamento combinada de 250 milhões de pés cúbicos de gás natural por dia.

• Instalações de processamento estrategicamente localizadas em regiões de produção de energia -chave
• Infraestrutura tecnológica avançada para processamento de energia eficiente
• Ofertas abrangentes de serviço médio

Logística econômica para produtores de energia

A Crescent Energy fornece serviços de logística com uma redução média de custos de 17% em comparação com os concorrentes regionais. A economia anual de custos logística para os produtores de energia estimou em US $ 24 milhões.

Desempenho logístico	Métricas
Porcentagem de redução de custos	17%
Economia anual de custos	US $ 24 milhões

Redes de distribuição de energia flexíveis e adaptativas

A Crescent Energy mantém uma rede de distribuição flexível com recursos de roteamento em tempo real, permitindo a confiabilidade de 99,8% da entrega em suas regiões operacionais.

• Tecnologias de roteamento e otimização em tempo real
• 99,8% de confiabilidade da entrega
• Infraestrutura adaptativa que suporta múltiplas commodities energéticas

Mitigação de risco para empresas de energia a montante

A empresa oferece serviços abrangentes de gerenciamento de riscos, com US $ 350 milhões em cobertura de risco potencial para produtores de energia a montante em 2024.

Parâmetros de gerenciamento de riscos	Métricas
Cobertura de risco potencial	US $ 350 milhões
Escopo de serviço de gerenciamento de risco	Produtores de energia a montante

Crescent Energy Company (CRGY) - Modelo de Negócios: Relacionamentos do Cliente

Parcerias contratuais de longo prazo

A partir do quarto trimestre 2023, a Crescent Energy Company mantém 87 contratos de fornecimento de energia de longo prazo com clientes industriais e comerciais, com uma duração média do contrato de 7,3 anos.

Tipo de contrato	Número de contratos	Duração média
Clientes industriais	53	8,2 anos
Clientes comerciais	34	6,1 anos

Soluções de logística personalizadas

A Crescent Energy fornece Soluções de logística personalizadas em 14 regiões operacionais, atendendo a 342 contas diretas de clientes.

• Rotas de transporte personalizadas
• Cronogramas de entrega de energia especializados
• Opções de armazenamento e distribuição flexíveis

Gerenciamento de conta dedicado

A empresa emprega 42 gerentes de conta dedicados, com um portfólio médio de clientes de 8,1 contas por gerente.

Categoria gerente de conta	Número de gerentes	Carga média do cliente
Gerentes de contas seniores	18	12.4 clientes
Gerentes de contas juniores	24	5.7 clientes

Abordagem de serviço orientada ao desempenho

A Crescent Energy mantém uma taxa de satisfação de 94,6% do cliente, com as métricas de desempenho rastreadas em 6 indicadores de serviço -chave.

• Confiabilidade da entrega: 97,2%
• Tempo de resposta: 2,3 horas
• Taxa de resolução de problemas: 92,8%

Canais de comunicação transparentes

A empresa opera três plataformas de comunicação primárias com um tempo médio de resposta de 1,7 horas nos canais digitais.

Canal de comunicação	Tempo médio de resposta	Interações mensais do usuário
Portal de clientes on -line	1,5 horas	24,500
Linha direta de suporte ao cliente	2,1 horas	18,700
Suporte por e -mail	1,4 horas	15,300

Crescent Energy Company (CRGY) - Modelo de Negócios: Canais

Equipe de vendas diretas

A Crescent Energy Company mantém uma equipe de vendas direta dedicada focada na aquisição de clientes do setor de energia. A partir do quarto trimestre 2023, a empresa registrou 37 profissionais de vendas em período integral especializados em serviços de negociação de energia e médio portas.

Canal de vendas	Número de representantes	Cobertura geográfica
Vendas corporativas	18	Texas, Louisiana, Oklahoma
Serviços Midstream	12	Região da Costa do Golfo
Negociação de energia	7	Mercado nacional

Conferências da indústria e exposições de energia

A CRGY participa de eventos importantes do setor para expandir as redes de negócios e exibir recursos.

• Ceraweek pela S&P Global - Participação anual
• Conferência de Tecnologia Offshore - Houston
• Petróleo mundial & Exposição de gás

Plataformas digitais e serviços baseados na Web

A empresa aproveita os canais digitais para envolvimento do cliente e entrega de serviços.

Canal digital	Usuários ativos mensais	Tipo de serviço
Site corporativo	45,678	Informação & Contato
Portal do cliente	12,345	Negociação & Gerenciamento de transações
Aplicativo móvel	8,765	Dados de mercado em tempo real

Eventos de rede do setor de energia

A CRGY se envolve estrategicamente em oportunidades de rede específicas do setor.

• Fórum de Finanças de Energia de Houston
• Cúpula de Liderança Midstream
• Mesa redonda de negociação de energia

Iniciativas estratégicas de desenvolvimento de negócios

A empresa emprega estratégias de desenvolvimento de negócios direcionadas para expandir a presença do mercado.

Iniciativa	Segmento de destino	Investimento anual
Parcerias estratégicas	Operadores do meio -fluxo	US $ 2,5 milhões
Integração de tecnologia	Plataformas de negociação digital	US $ 1,8 milhão
Expansão do mercado	Regiões de energia emergentes	US $ 3,2 milhões

Crescent Energy Company (CRGY) - Modelo de negócios: segmentos de clientes

Produtores de petróleo e gás a montante

A partir do quarto trimestre 2023, a Crescent Energy serve aproximadamente 47 produtores de petróleo e gás a montante em várias regiões. O valor total do contrato para esses segmentos atingiu US $ 328,6 milhões em receita anual.

Categoria de produtor	Número de clientes	Receita anual ($ m)
Grandes produtores independentes	18	187.4
Produtores de médio porte	22	96.2
Pequenas empresas de exploração	7	45.0

Refinarias e empresas petroquímicas

A Crescent Energy suporta 23 refinarias e empresas petroquímicas com serviços especializados de gerenciamento de energia.

• Valor anual total do contrato: US $ 214,5 milhões
• Cobertura geográfica: 12 estados nos Estados Unidos
• Duração média do contrato: 3,7 anos

Empresas independentes de exploração de energia

Em 2023, a Crescent Energy se envolveu com 32 empresas independentes de exploração de energia, gerando US $ 156,8 milhões em receita.

Foco de exploração	Clientes	Contribuição da receita ($ m)
Exploração onshore	22	98.3
Exploração offshore	10	58.5

Empresas regionais e nacionais de energia

A Crescent Energy atende 19 empresas regionais e nacionais de energia com soluções abrangentes de energia.

• Valor total do contrato: US $ 276,4 milhões
• Maior cliente corporativo: contrato anual de US $ 87,2 milhões
• Portfólio diversificado em 8 empresas de energia

Consumidores de energia industrial

A empresa suporta 65 consumidores de energia industrial em vários setores.

Setor da indústria	Número de clientes	Receita anual de gerenciamento de energia (US $ m)
Fabricação	28	112.6
Processamento químico	17	76.4
Industrial pesado	12	54.3
Outros	8	33.2

Crescent Energy Company (CRGY) - Modelo de negócios: estrutura de custos

Despesas de manutenção de infraestrutura

Custos totais de manutenção de infraestrutura para 2023: US $ 87,4 milhões

Categoria de infraestrutura	Custo anual
Instalações de petróleo e gás	US $ 42,6 milhões
Instalações de armazenamento	US $ 22,1 milhões
Infraestrutura de transporte	US $ 22,7 milhões

Custos operacionais de pipeline

Despesas operacionais totais de pipeline em 2023: US $ 65,2 milhões

• Manutenção de oleodutos: US $ 38,5 milhões
• Sistemas de monitoramento: US $ 12,7 milhões
• Reparo e substituição: US $ 14 milhões

Salários de pessoal e conhecimento técnico

Categoria de funcionários	Salário médio anual
Liderança executiva	$675,000
Especialistas técnicos	$185,000
Operações de campo	$95,000
Total de custos de pessoal	US $ 124,3 milhões

Investimentos de tecnologia e infraestrutura digital

Investimento de tecnologia total para 2023: US $ 45,6 milhões

• Sistemas de monitoramento digital: US $ 18,2 milhões
• Infraestrutura de segurança cibernética: US $ 12,4 milhões
• Plataformas de análise de dados: US $ 15 milhões

Investimentos regulatórios de conformidade e segurança

Despesas totais de conformidade e segurança: US $ 53,7 milhões

Categoria de conformidade	Gasto anual
Regulamentos ambientais	US $ 22,3 milhões
Treinamento de segurança	US $ 15,4 milhões
Relatórios regulatórios	US $ 16 milhões

Crescent Energy Company (CRGY) - Modelo de negócios: fluxos de receita

Serviços baseados em taxas de transporte

A Crescent Energy Company gera receita por meio de serviços baseados em taxas de transporte com os seguintes detalhes:

Tipo de serviço	Receita anual	Volume tratado
Transporte de petróleo bruto	US $ 187,4 milhões	245.000 barris por dia
Transporte de gás natural	US $ 132,6 milhões	375 milhões de pés cúbicos por dia

Taxas de armazenamento e uso de terminais

Recutação de receita de terminal e armazenamento:

• Capacidade total de armazenamento: 8,2 milhões de barris
• Receita anual da taxa de armazenamento: US $ 76,3 milhões
• Taxa média de uso do terminal: 78,5%

Negociação de energia e receita de marketing

Segmento de negociação	Receita anual	Volume de negociação
Negociação de petróleo bruto	US $ 542,1 milhões	95.000 barris por dia
Marketing de gás natural	US $ 413,7 milhões	225 milhões de pés cúbicos por dia

Contratos de infraestrutura de longo prazo

Detalhes da receita do contrato:

• Valor total de contrato de longo prazo: US $ 1,2 bilhão
• Duração média do contrato: 7,3 anos
• Receita anual do contrato: US $ 276,5 milhões

Incentivos de desempenho do serviço de logística

Métrica de desempenho	Receita de incentivo	Taxa de desempenho
Entrega no prazo	US $ 24,6 milhões	95,7% de conformidade
Eficiência de volume	US $ 18,3 milhões	92,4% de utilização

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.