Crescent Energy Company completed its acquisition of Ridgemar (Eagle Ford) LLC on January 31, 2025.
The acquisition involved a combination of cash and stock consideration, with potential additional earn-out consideration based on future oil prices.
The pro forma statements of operations have been prepared to reflect the impact of the acquisition and other related transactions.
Acquisition Details
Crescent Energy Company acquired Ridgemar (Eagle Ford) LLC for $830.0 million in cash and 5,454,546 shares of Crescent Class A Common Stock.
Earn-Out Consideration
Up to $170.0 million in earn-out consideration may be paid based on quarterly NYMEX WTI crude oil prices in fiscal years 2026 and 2027.
Merger with SilverBow
Crescent Energy Company also completed a merger with SilverBow Resources, Inc., with different forms of consideration offered to shareholders.
- The acquisition of Ridgemar (Eagle Ford) LLC significantly expands Crescent Energy Company's asset base and market presence in the energy sector.
- The merger with SilverBow Resources, Inc. further strengthens Crescent's position in the industry and diversifies its portfolio.
The strategic acquisitions and mergers undertaken by Crescent Energy Company position the company for growth and enhanced competitiveness in the energy market.