Crescent Energy Company announced the closing of the acquisition of Vital Energy, Inc.
The all-stock transaction positions Crescent among the top ten liquids-weighted independent E&P companies
Crescent's CEO highlighted the benefits of the combination with Vital Energy, including enhanced free cash flow profile and operational scale
Strategic Acquisition
Acquisition of Vital Energy positions Crescent as a leading independent E&P company with a focus on free cash flow generation and value creation for shareholders
Governance Update
Appointment of new directors to Crescent's Board strengthens the company's leadership and expertise
Operational Focus
Crescent aims to efficiently integrate new assets, identify synergies, and demonstrate its value proposition as a mid-cap company
- The acquisition enhances Crescent's operational scale and opportunity set
- Crescent's board now comprises twelve directors, with a majority being independent, enhancing governance and oversight
- The combination with Vital Energy tripled Crescent's business size over the last four years, indicating growth and expansion
Crescent Energy's acquisition of Vital Energy marks a significant milestone in its growth strategy, positioning the company for sustained success in the energy sector.