Acquisition And ExpansionCrescent announced the acquisition of struggling public E&P Vital Energy for a 20% premium, adding approximately 267,000 acres and 138 MBoepd (45% oil), granting Crescent a solid Permian foothold.
Asset Management And DivestituresThere is upside from asset sales, as CRGY raised its non-core asset sale target to $1.0 billion, of which $110.0 million has been executed to date.
Financial Metrics And PerformanceCRGY will boost FCF from the acquired assets, resulting in generally accretive metrics with pro forma leverage staying below its 1.5x net-debt/EBITDA target.