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Crescent Energy Q1 2025 Earnings Report
Crescent Energy reported its financial and operating results for the first quarter of 2025, highlighting robust financial performance, continued operating efficiencies, and strategic portfolio optimization.
Key Takeaways
Crescent Energy delivered strong first quarter 2025 results, exceeding guidance expectations with $337 million in Operating Cash Flow and $242 million in Levered Free Cash Flow. The company also completed the acquisition of Ridgemar Energy and divested approximately $90 million in non-core assets, while repurchasing $30 million of shares.
Achieved robust financial performance, surpassing all key metrics and guidance expectations.
Generated $337 million in Operating Cash Flow and $242 million in Levered Free Cash Flow, indicating an annualized yield of approximately 45%.
Improved South Texas drilling, completion, and facilities costs by approximately 10% compared to 2024, demonstrating continued operating efficiencies.
Executed approximately $90 million in non-core and accretive divestitures year-to-date, alongside the seamless integration of the Ridgemar Energy acquisition.
Revenue by Segment
Forward Guidance
Crescent Energy updated its full-year 2025 outlook to reflect recent divestitures, reaffirming its flexible 4-5 rig program and focus on maximizing returns and free cash flow, incorporating an 11-month contribution from the Ridgemar assets.
Positive Outlook
- Reaffirmed commitment to a flexible 4-5 rig program, allowing for adaptive capital allocation.
- Continued focus on maximizing returns and free cash flow from oil and gas assets.
- Outlook incorporates an 11-month contribution from the successfully integrated Ridgemar assets, enhancing production.
- Commitment to cash flow, risk management, and returns in a dynamic macro environment.
- Uniquely positioned to capitalize on the current environment due to strong investing and operating skills.
Challenges Ahead
- Total Production guidance adjusted downwards from 254-264 MBoe/d to 251-261 MBoe/d due to divestitures.
- All amounts are approximations and subject to change based on future events and circumstances.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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