Crescent Energy Announces Accretive Eagle Ford Bolt-On; Acquires Operated Interest in Existing Non-Operated Assets

May 02, 2023

Crescent Energy Company (NYSE: CRGY) (“Crescent” or the “Company”) today announced that it has entered into a definitive purchase agreement to acquire operatorship and incremental working interest in its existing Western Eagle Ford assets from Mesquite Energy, Inc. for total consideration of $600 million in cash, subject to customary purchase price adjustments. The accretive acquisition is consistent with Crescent’s strategy of acquiring high-value, cash flowing assets while maintaining financial strength. The transaction is expected to close early in the third quarter of 2023, subject to customary closing conditions. Additional details have been posted on Crescent’s website at %3Cb%3Eir.crescentenergyco.com%3C%2Fb%3E. A conference call to discuss the transaction, as well as the Company’s first quarter financial and operating results, is planned for 10 a.m. CT on May 11, 2023. Participation details are included within this release.

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