Crescent Energy Company announced its financial and operating results for the third quarter of 2026 on November 2, 2026. The company reported strong performance for the quarter ended September 30, 2026, with average daily production of 328 thousand barrels of oil equivalent (MBoe/d), including 134 MBoe/d of oil. The company generated $608 million in Operating Cash Flow and $367 million in Levered Free Cash Flow during the period.
Production figures show an increase in oil production to 134 MBoe/d compared to 103 MBoe/d in the prior year quarter. The company drilled 29 gross operated wells during the quarter, including 22 in the Eagle Ford, 6 in the Permian, and 1 in the Uinta Basin. Capital expenditures, excluding acquisitions, were $326 million. Crescent reported a net loss of $1 million and Adjusted Net Income of $254 million, supported by Adjusted EBITDAX of $786 million.
In a separate announcement, Crescent entered into a definitive agreement to acquire Eagle Ford assets from Devon Energy. The all-cash transaction is valued at an estimated net purchase price of approximately $3.85 billion. The acquisition is expected to close in the fourth quarter of 2026 or early 2027, subject to customary closing conditions.
The company also announced a fixed quarterly dividend of $0.12 per share for the third quarter of 2026, payable on November 30, 2026. As of September 30, 2026, the company had approximately $2.0 billion of liquidity and a leverage ratio of approximately 1.5x. The company plans to host a conference call and webcast at 10 a.m. CT on Tuesday, November 3, 2026, to discuss the results.
