Crescent Energy Company announced the closing of its previously announced acquisition of Vital Energy, Inc., creating a leading, returns-driven independent E&P company.
The all-stock transaction positions Crescent as a top ten liquids-weighted independent with a consistent strategy focused on free cash flow generation, disciplined capital allocation, and sustainable long-term value creation for shareholders. Crescent expects to provide pro forma 2026 guidance with its fourth-quarter and full-year 2025 results.
“Our combination with Vital Energy significantly enhances Crescent’s free cash flow profile, operational scale and opportunity set,” said David Rockecharlie, Crescent’s CEO. “Through disciplined investing and operations, we have nearly tripled the size of our business over the last four years. Today we are focused on efficiently integrating our new assets and personnel, executing on identified synergies and demonstrating the full value proposition of Crescent as a leading mid-cap company.”
Pursuant to the terms of the merger agreement, William Albrecht and Jarvis Hollingsworth, former directors of Vital Energy, have been appointed to Crescent’s Board of Directors (the Board), and Michael Duginski resigned from the Board in connection with the closing of the acquisition. With these changes, Crescent’s Board now comprises twelve directors, ten of whom are independent. The newly appointed directors bring valuable expertise and will further strengthen Crescent’s experienced and engaged Board.
