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Crescent Energy to buy Devon's Eagle Ford assets for $4.2 billion. Crescent Energy has agreed to acquire Devon Energy's Eagle Ford assets for $4.2 billion in cash, expanding its South Texas operations. The package includes approximately 90,000 net acres in Karnes, DeWitt and Gonzales counties, 68,000 barrels of oil equivalent per day (boe/day) of net production and more than 600 Tier 1 net drilling locations adjacent to Crescent's existing acreage. The announcement does not specify a closing date. OilGasLeads' Devon Eagle Ford drilling report contains 99 well records since 2025, including 82 in DeWitt County and 17 in Karnes County. DeWitt represents approximately 83% of reported activity. Although Gonzales County is included in the acquisition, no Gonzales records appear in this drilling dataset. Four contractor-and-rig combinations appear in the report: H&P 437 with 44 records, H&P 539 with 28, H&P 384 with 26 and Nabors X03 with one. The three H&P rigs account for 98 of the 99 records, showing concentrated historical drilling relationships. These counts describe recorded well activity and do not establish current rig assignments or future contract awards. The Devon Eagle Ford report contains 99 wells drilled for wells drilled since 2025. Record count by county Top Contractor and Rig by record count Only four distinct Contractor and Rig combinations appear in the report. DeWitt County accounts for 82.8% of the records, while the three H&P rigs account for 98 of the 99 records. Crescent launched a $1 billion common-stock offering, with an additional $150 million underwriters' option, to help finance the purchase. Devon plans to use after-tax proceeds for share repurchases and debt reduction as it concentrates its portfolio on longer-life, higher-return assets. For suppliers, the transaction makes operating contacts, vendor qualification and purchasing arrangements key areas to monitor during integration. Industry impact. The acquisition consolidates ownership of an established U.S. production base and development inventory. The U.S. "Safe Barrel" theme emphasizes the strategic value of domestic supply supported by established infrastructure and market access. Maintaining production and developing these assets efficiently connects that value to demand for drilling, completion and production services. Sales strategy. Oilfield services (OFS) sales teams should prioritize DeWitt and Karnes counties using the reported drilling concentration. Map Devon's existing field relationships to Crescent's operations and procurement teams, and lead with measurable improvements in artificial lift, maintenance, chemicals and operating costs. Confirm future drilling schedules and contracting requirements before pursuing rig or completion commitments. Two-Sentence summary. Crescent Energy has agreed to buy Devon's Eagle Ford assets for $4.2 billion, adding approximately 90,000 net acres, 68,000 boe/day of production and more than 600 Tier 1 net drilling locations. OilGasLeads' report records 99 Devon Eagle Ford wells since 2025 - 82 in DeWitt and 17 in Karnes - with three H&P rigs accounting for 98 records.

Crescent Energy to acquire Eagle Ford assets from Devon Energy, solidifying Crescent's World-Class position in the basin. High-margin, oil-weighted production and significant Tier 1 inventory adjacent to existing operations Attractive acquisition returns and meaningful accretion across all key metrics Devon-owned minerals add significant scale and increased operatorship to Crescent Royalties Published on 10/08/2026 at 07:25 am EDT Business Wire Crescent Energy Company (NYSE: CRGY) ("Crescent" or the "Company") today announced that it has entered into a definitive agreement to acquire Eagle Ford assets from Devon Energy for an estimated net purchase price of approximately $3.85 billion[(1)] (the "Transaction"). The Transaction solidifies Crescent's world-class Eagle Ford position, adding Tier 1 inventory and meaningful scale directly adjacent to its existing operations. The acquired assets will be managed with Crescent's consistent strategy focused on free cash flow, disciplined capital allocation and attractive returns. The Transaction is expected to close in the fourth quarter of 2026 or early 2027, subject to customary closing conditions. The acquired assets include approximately 68 Mboe/d of net production[(2)] and more than 600 Tier 1 net locations normalized to 10,000 feet. Crescent's longstanding minerals ownership across the acquired assets, nearby operations and deep technical knowledge provide differentiated insight and conviction in the assets. The Transaction Offers Compelling Value for All Shareholders: * Solidifies Crescent's World-Class Eagle Ford Position - Significant Tier 1 inventory in the Karnes Trough that immediately competes for capital; assets directly adjacent to Crescent's existing operations further enhance Crescent's basin-leading position and build on its established operating and minerals footprint. * Compelling Returns and Accretion - Strong investment returns, in-line with Crescent's consistent underwriting criteria and meaningful accretion across all key metrics, including CFFO, FCF and NAV. * Accelerates Crescent's Value Creation - Higher quality inventory, improved capital efficiency and increased margins enhance free cash flow generation. Applying Crescent's proven "buy assets and make them better" operating playbook, with approximately $140 million in annual synergies identified across D&C, LOE and marketing. * Transforms Market-Leading Royalties Platform - Devon-owned minerals strengthen Crescent Royalties through greater scale, increased operatorship and enhanced development visibility. * Maintains Strong Balance Sheet and Progress Toward Investment Grade - Balanced financing structure, greater scale and strong free cash flow generation support debt reduction and continued progress toward an investment-grade credit profile. "This acquisition represents a significant step forward for Crescent, adding high-quality assets at an attractive valuation in the heart of one of our core operating areas," said David Rockecharlie, Chief Executive Officer of Crescent Energy. "We know these assets exceptionally well through our longstanding minerals ownership and nearby operations, and see meaningful opportunity to make them even better. The transaction solidifies Crescent's world-class Eagle Ford position and creates significant additional value creation opportunities through our proven operating strategy." Transaction Financing Crescent has obtained commitments for certain debt financing options from JPMorgan Chase Bank, N.A. and RBC Capital Markets, LLC in connection with this transaction. KKR Capital Markets also advised on the financing. The Company intends to fund the transaction consideration through a combination of cash on hand, and, as appropriate, based on market conditions, a balanced mix of debt and equity. There can be no guarantee that additional financing will be available on terms satisfactory to the Company or at all. Crescent's financial advisors in connection with the acquisition are Jefferies LLC and J.P. Morgan Securities LLC. Crescent's counsel is Latham & Watkins LLP and Vinson & Elkins LLP. RBC Capital Markets, LLC served as financial advisor to Devon Energy, and Kirkland & Ellis LLP served as legal counsel. Conference Call Details Crescent plans to host a conference call and webcast at 7:00 a.m. Central Time / 8:00 a.m. Eastern Time on October 8, 2026. Complete details are below. Date: Thursday, October 8, 2026 Time: 7:00 a.m. CT (8:00 a.m. ET) Conference Dial-In: 833-461-5787 / 585-542-9983 (Domestic / International) Meeting ID: 542 556 661 Webcast Link: www.crescentenergyco.com An investor presentation regarding the transaction can be found at www.crescentenergyco.com. A webcast replay will be available on the website following the call. About Crescent Energy Company Crescent is a differentiated energy company committed to delivering value through a disciplined, returns-driven growth through acquisition strategy and consistent return of capital. Our long-life, balanced portfolio combines significant cash flow from stable production with deep, high-quality development inventory. Our activities are focused in the Eagle Ford, Permian and Uinta Basins, and we own minerals and royalty interests across premier U.S. oil and natural gas basins, primarily operated by large, well-capitalized companies, with a core focus in the Eagle Ford. For additional information, please visit www.crescentenergyco.com. Forward-Looking Statements and Cautionary Statements The foregoing contains "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this communication that address activities, events or developments that Crescent expects, believes or anticipates will or may occur in the future are forward-looking statements. Words such as "estimate," "project," "predict," "believe," "expect," "anticipate," "potential," "create," "intend," "could," "may," "foresee," "plan," "will," "guidance," "look," "outlook," "goal," "future," "assume," "forecast," "build," "focus," "work," "continue" or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements include, but are not limited to, statements regarding the Transaction, the expected timing of completion of the Transaction, pro forma descriptions of the combined company and its operations, integration and transition plans, synergies, opportunities and anticipated future performance and anticipated financing plans relating to the Transaction. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. These include the expected timing and likelihood of completion of the Transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the Transaction that could reduce anticipated benefits or cause the parties to abandon the Transaction, the ability to successfully integrate the businesses, the availability of financing relating to the purchase price of the Transaction on terms satisfactory to the Company or at all, the risk that the parties may not be able to satisfy the conditions to the Transaction in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the Transaction, the risk that any announcements relating to the Transaction could have adverse effects on the market price of Crescent's common stock, the risk that problems may arise in successfully integrating the assets, which may result in the combined company not operating as effectively and efficiently as expected, the risk that the combined company may be unable to achieve synergies or it may take longer than expected to achieve those synergies and other important factors that could cause actual results to differ materially from those projected. All such factors are difficult to predict and are beyond Crescent's control, including those detailed in Crescent's annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K that are available on its website at www.crescentenergyco.com and on the SEC's website at http://www.sec.gov. The Company does not give any assurance (1) that it will achieve its expectations or (2) as to any business strategies, earnings or revenue trends or future financial results. All forward-looking statements are based on assumptions that Crescent believes to be reasonable but that may not prove to be accurate. Any forward-looking statement speaks only as of the date on which such statement is made and Crescent undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof. | (1) | / | Net purchase price is defined as headline purchase price less estimated purchase price adjustments, including, among other things, allocations of certain revenues and expenses based on a July 1, 2026 effective date. | | (2) | / | Represents July 2026 net production from internal forecast. | View source version on businesswire.com: https://www.businesswire.com/news/home/20261008482210/en/ (C) Business Wire - 2026

Crescent Energy (NYSE:CRGY) releases quarterly earnings results, beats estimates by $0.09 EPS. August 3, 2026 Key points. * Crescent Energy beat quarterly earnings estimates, reporting $0.69 EPS versus the $0.60 consensus, while revenue reached $1.39 billion compared with $1.26 billion expected. * Shares slipped $0.04 to $11.43, with the stock trading between a 52-week range of $7.68 and $14.29. The company reported a negative 7.47% net margin, 8.10% return on equity, and a debt-to-equity ratio of 1.12. * Analysts maintain a "Moderate Buy" consensus rating with an average price target of $15.67, although Morgan Stanley recently downgraded the stock to underweight. Institutional investors own 52.11% of Crescent Energy. * Five stocks to consider instead of Crescent Energy. Crescent Energy (NYSE:CRGY - Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.09, FiscalAI reports. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.26 billion. Crescent Energy price performance. Shares of Crescent Energy stock traded down $0.04 on Monday, hitting $11.43. 5,625,190 shares of the company were exchanged, compared to its average volume of 7,206,213. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of -15.24 and a beta of 1.40. The company has a 50-day moving average price of $10.81 and a 200 day moving average price of $11.30. Crescent Energy has a 1-year low of $7.68 and a 1-year high of $14.29. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. Institutional investors weigh in on Crescent Energy. Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LLC increased its stake in shares of Crescent Energy by 62.6% in the 4th quarter. Corient Private Wealth LLC now owns 28,731 shares of the company's stock worth $241,000 after acquiring an additional 11,063 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Crescent Energy by 38.8% in the fourth quarter. Invesco Ltd. now owns 2,260,663 shares of the company's stock valued at $18,967,000 after purchasing an additional 632,147 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of Crescent Energy by 79.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 26,096 shares of the company's stock valued at $219,000 after purchasing an additional 11,594 shares during the period. First Citizens Bank & Trust Co. grew its holdings in shares of Crescent Energy by 1.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 65,241 shares of the company's stock valued at $547,000 after purchasing an additional 1,152 shares during the period. Finally, State of Tennessee Department of Treasury raised its stake in Crescent Energy by 28.2% during the fourth quarter. State of Tennessee Department of Treasury now owns 218,993 shares of the company's stock worth $1,837,000 after purchasing an additional 48,221 shares during the period. Institutional investors and hedge funds own 52.11% of the company's stock. Analyst ratings changes. Several research firms have commented on CRGY. UBS Group initiated coverage on Crescent Energy in a research note on Tuesday, July 14th. They set a "buy" rating and a $13.00 price objective for the company. Zacks Research lowered Crescent Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Stephens reiterated an "overweight" rating and set a $18.00 price target on shares of Crescent Energy in a research report on Tuesday, May 5th. Wells Fargo & Company boosted their price target on Crescent Energy from $14.00 to $18.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Finally, Morgan Stanley downgraded Crescent Energy to an "underweight" rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $15.67. Discover more Stock Split Calculator Market Cap Calculator About Crescent Energy. Crescent Energy Co NYSE: CRGY is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company's core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy's integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle. Crescent Energy's operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin's stacked pay intervals. Further reading. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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