{"success":true,"data":{"pressRelease":{"id":"164084","rtpr_id":"nBwbvGzH7a-20261008","ticker":"CRGY","exchange":"NYSE","all_tickers":["CRGY"],"title":"Crescent Energy Company Announces Public Offering of Class A Common Stock","author":"Business Wire","published_at":"2026-10-08T11:23:00.097Z","article_body":"Crescent Energy Company Announces Public Offering of Class A Common Stock\n\nAn affiliate of KKR & Co. Inc., a leading global investment firm and\ninvestor in Crescent, has indicated a commitment to purchase up to $500\nmillion of shares as part of the offering\n\nCrescent Energy Company (“Crescent” or the “Company”) (NYSE: CRGY)\ntoday announced the commencement of an underwritten public offering of\n$1,000,000,000 of its Class A common stock, par value $0.0001 per share\n(“Class A common stock”), pursuant to an effective shelf registration\nstatement on Form S-3 (the “Registration Statement”) filed previously with\nthe U.S. Securities and Exchange Commission (the “SEC”).\n\nThe Company intends to use the net proceeds it receives from the offering to\nfund a portion of the cash consideration for its recently announced\nacquisition of certain Eagle Ford oil and natural gas assets from Devon Energy\nProduction Company, L.P., a subsidiary of Devon Energy Corporation (the\n“Devon EF Assets Acquisition”), which is expected to close in the fourth\nquarter of 2026 or early 2027, subject to customary closing conditions and\nregulatory approvals. The offering is not contingent on the completion of the\nDevon EF Assets Acquisition. If the Devon EF Assets Acquisition is not\ncompleted, the proceeds from the offering will be used for general corporate\npurposes, including the repayment of indebtedness of the Company’s\nsubsidiaries.\n\nThe Company expects to grant the underwriters a 30-day option to purchase up\nto $150,000,000 of additional shares of Class A common stock at the public\noffering price, less the underwriting discounts and commissions.\n\nIndependence Energy Aggregator L.P., an entity affiliated with KKR & Co.\nInc., and a holder of approximately 7.9% of the Company’s Class A common\nstock, has indicated an interest in purchasing up to $500,000,000 of shares of\nClass A common stock at the public offering price and on the same terms as the\nother shares of Class A common stock.\n\nJ.P. Morgan, KKR Capital Markets LLC and Raymond James are serving as joint\nbook-running managers for the offering. The offering is subject to market and\nother conditions, and there can be no assurance as to whether or when the\noffering may be completed, or as to the actual size or terms of the offering.\n\nThe proposed offering will be made only by means of a prospectus and a\nprospectus supplement. Copies of the preliminary prospectus supplement and\naccompanying base prospectus relating to the offering and final prospectus\nsupplement, when available, may be obtained from: J.P. Morgan Securities LLC,\nc/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, New York\n11717, or by email at prospectus-eq_fi@jpmchase.com\n(mailto:prospectus-eq_fi@jpmchase.com) , KKR Capital Markets LLC, 30 Hudson\nYards, New York, New York 10001 or by telephone at (212) 750-8300, Raymond\nJames & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida\n33716, Attention: Equity Syndicate, or by email at prospectus@raymondjames.com\n(mailto:prospectus@raymondjames.com) , or by accessing the SEC’s website at\nwww.sec.gov\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.sec.gov&esheet=54618239&newsitemid=20261008004662&lan=en-US&anchor=www.sec.gov&index=1&md5=a1060f48d0b462481dd1e73105d4eada)\n.\n\nThe offering is being conducted pursuant to the Registration Statement,\npreviously filed with the SEC on October 8, 2026 that became effective upon\nfiling, and corresponding prospectus. A preliminary prospectus supplement\nthereto has been filed with the SEC. This press release shall not constitute\nan offer to sell or the solicitation of an offer to buy the shares of Class A\ncommon stock or any other securities, nor shall there be any sale of such\nshares of Class A common stock or any other securities in any state or other\njurisdiction in which such offer, solicitation or sale would be unlawful prior\nto registration or qualification under the securities laws of any such state\nor other jurisdiction.\n\nAbout Crescent Energy Company\n\nCrescent Energy Company is a U.S. energy company with activities focused in\nthe Eagle Ford, Permian and Uinta Basins, and minerals and royalty interests\nacross U.S. oil and natural gas basins, with a core focus in the Eagle Ford.\n\nCautionary Note Regarding Forward-Looking Statements\n\nThis communication contains “forward-looking statements” within the\nmeaning of Section 27A of the Securities Act of 1933, as amended, and Section\n21E of the Securities Exchange Act of 1934, as amended, and the rules and\nregulations promulgated thereunder. These forward-looking statements include\nany statements regarding the proposed offering of Class A common stock and the\nDevon EF Assets Acquisition. These forward-looking statements are identified\nby their use of terms and phrases such as “may,” “expect,”\n“estimate,” “project,” “plan,” “believe,” “intend,”\n“achievable,” “anticipate,” “will,” “continue,”\n“potential,” “should,” “could,” and similar terms and phrases.\nAlthough the Company believes that the expectations reflected in these\nforward-looking statements are reasonable, they do involve certain\nassumptions, risks and uncertainties. Actual results could differ materially\nfrom those anticipated in these forward-looking statements as a result of\ncertain factors, including, but not limited to, those set forth in the\nCompany’s filings with the SEC, including the Registration Statement and the\nprospectus supplement relating to the offering, its Annual Report on Form 10-K\nfor the fiscal year ended December 31, 2025 and its subsequent Quarterly\nReports on Form 10-Q, under the caption “Risk Factors,” as may be updated\nfrom time to time in the Company’s periodic filings with the SEC. Any\nforward-looking statement in this press release speaks only as of the date of\nthis release. The Company undertakes no obligation to publicly update or\nreview any forward-looking statement, whether as a result of new information,\nfuture developments or otherwise, except as may be required by any applicable\nsecurities laws.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261008004662/en/\n(https://www.businesswire.com/news/home/20261008004662/en/)\n\nIR@crescentenergyco.com (mailto:IR@crescentenergyco.com)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBwbvGzH7a-20261008","title":"Crescent Energy Company Announces Public Offering of Class A Common Stock","author":"Business Wire","ticker":"CRGY","created":"2026-10-08T11:23:00.097Z","tickers":["CRGY"],"exchange":"NYSE","article_body":"Crescent Energy Company Announces Public Offering of Class A Common Stock\n\nAn affiliate of KKR & Co. Inc., a leading global investment firm and\ninvestor in Crescent, has indicated a commitment to purchase up to $500\nmillion of shares as part of the offering\n\nCrescent Energy Company (“Crescent” or the “Company”) (NYSE: CRGY)\ntoday announced the commencement of an underwritten public offering of\n$1,000,000,000 of its Class A common stock, par value $0.0001 per share\n(“Class A common stock”), pursuant to an effective shelf registration\nstatement on Form S-3 (the “Registration Statement”) filed previously with\nthe U.S. Securities and Exchange Commission (the “SEC”).\n\nThe Company intends to use the net proceeds it receives from the offering to\nfund a portion of the cash consideration for its recently announced\nacquisition of certain Eagle Ford oil and natural gas assets from Devon Energy\nProduction Company, L.P., a subsidiary of Devon Energy Corporation (the\n“Devon EF Assets Acquisition”), which is expected to close in the fourth\nquarter of 2026 or early 2027, subject to customary closing conditions and\nregulatory approvals. The offering is not contingent on the completion of the\nDevon EF Assets Acquisition. If the Devon EF Assets Acquisition is not\ncompleted, the proceeds from the offering will be used for general corporate\npurposes, including the repayment of indebtedness of the Company’s\nsubsidiaries.\n\nThe Company expects to grant the underwriters a 30-day option to purchase up\nto $150,000,000 of additional shares of Class A common stock at the public\noffering price, less the underwriting discounts and commissions.\n\nIndependence Energy Aggregator L.P., an entity affiliated with KKR & Co.\nInc., and a holder of approximately 7.9% of the Company’s Class A common\nstock, has indicated an interest in purchasing up to $500,000,000 of shares of\nClass A common stock at the public offering price and on the same terms as the\nother shares of Class A common stock.\n\nJ.P. Morgan, KKR Capital Markets LLC and Raymond James are serving as joint\nbook-running managers for the offering. The offering is subject to market and\nother conditions, and there can be no assurance as to whether or when the\noffering may be completed, or as to the actual size or terms of the offering.\n\nThe proposed offering will be made only by means of a prospectus and a\nprospectus supplement. Copies of the preliminary prospectus supplement and\naccompanying base prospectus relating to the offering and final prospectus\nsupplement, when available, may be obtained from: J.P. Morgan Securities LLC,\nc/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, New York\n11717, or by email at prospectus-eq_fi@jpmchase.com\n(mailto:prospectus-eq_fi@jpmchase.com) , KKR Capital Markets LLC, 30 Hudson\nYards, New York, New York 10001 or by telephone at (212) 750-8300, Raymond\nJames & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida\n33716, Attention: Equity Syndicate, or by email at prospectus@raymondjames.com\n(mailto:prospectus@raymondjames.com) , or by accessing the SEC’s website at\nwww.sec.gov\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.sec.gov&esheet=54618239&newsitemid=20261008004662&lan=en-US&anchor=www.sec.gov&index=1&md5=a1060f48d0b462481dd1e73105d4eada)\n.\n\nThe offering is being conducted pursuant to the Registration Statement,\npreviously filed with the SEC on October 8, 2026 that became effective upon\nfiling, and corresponding prospectus. A preliminary prospectus supplement\nthereto has been filed with the SEC. This press release shall not constitute\nan offer to sell or the solicitation of an offer to buy the shares of Class A\ncommon stock or any other securities, nor shall there be any sale of such\nshares of Class A common stock or any other securities in any state or other\njurisdiction in which such offer, solicitation or sale would be unlawful prior\nto registration or qualification under the securities laws of any such state\nor other jurisdiction.\n\nAbout Crescent Energy Company\n\nCrescent Energy Company is a U.S. energy company with activities focused in\nthe Eagle Ford, Permian and Uinta Basins, and minerals and royalty interests\nacross U.S. oil and natural gas basins, with a core focus in the Eagle Ford.\n\nCautionary Note Regarding Forward-Looking Statements\n\nThis communication contains “forward-looking statements” within the\nmeaning of Section 27A of the Securities Act of 1933, as amended, and Section\n21E of the Securities Exchange Act of 1934, as amended, and the rules and\nregulations promulgated thereunder. These forward-looking statements include\nany statements regarding the proposed offering of Class A common stock and the\nDevon EF Assets Acquisition. These forward-looking statements are identified\nby their use of terms and phrases such as “may,” “expect,”\n“estimate,” “project,” “plan,” “believe,” “intend,”\n“achievable,” “anticipate,” “will,” “continue,”\n“potential,” “should,” “could,” and similar terms and phrases.\nAlthough the Company believes that the expectations reflected in these\nforward-looking statements are reasonable, they do involve certain\nassumptions, risks and uncertainties. Actual results could differ materially\nfrom those anticipated in these forward-looking statements as a result of\ncertain factors, including, but not limited to, those set forth in the\nCompany’s filings with the SEC, including the Registration Statement and the\nprospectus supplement relating to the offering, its Annual Report on Form 10-K\nfor the fiscal year ended December 31, 2025 and its subsequent Quarterly\nReports on Form 10-Q, under the caption “Risk Factors,” as may be updated\nfrom time to time in the Company’s periodic filings with the SEC. Any\nforward-looking statement in this press release speaks only as of the date of\nthis release. The Company undertakes no obligation to publicly update or\nreview any forward-looking statement, whether as a result of new information,\nfuture developments or otherwise, except as may be required by any applicable\nsecurities laws.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261008004662/en/\n(https://www.businesswire.com/news/home/20261008004662/en/)\n\nIR@crescentenergyco.com (mailto:IR@crescentenergyco.com)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-10-08T11:23:00.157926518Z","server_sent_at_ms":1791458580157},"received_at":"2026-10-08T11:23:00.208Z","source_url":"https://www.businesswire.com/news/home/20261008004662/en/"},"analysis":{"id":"152520","press_release_id":"164084","analysis_json":{"industry":{"label":"Oil, Gas & Consumable Fuels","sector":"Energy"},"redFlags":["substantial dilution: $1.0B equity raise plus $150M greenshoe for a mid-cap E&P","if the Devon EF Assets Acquisition is not completed, proceeds revert to general corporate purposes including debt repayment","offering size, terms and completion are subject to market conditions with no assurance"],"eventType":"offering","narrative":"Crescent Energy launched an underwritten public offering of $1.0 billion of Class A common stock, with a 30-day underwriter option for up to $150 million more.\n\nAn affiliate of KKR, holding roughly 7.9% of Class A shares, has indicated interest in purchasing up to $500 million of the offering on the same terms as other buyers.\n\nProceeds are earmarked to fund part of the cash consideration for the acquisition of Eagle Ford assets from Devon Energy, expected to close in Q4 2026 or early 2027; if that deal fails, proceeds go to general corporate purposes including debt repayment.","sentiment":"mixed","agentHooks":{"shouldPost":true,"suggestedAngle":"KKR anchor-staking half of a $1B raise de-risks Crescent's Devon Eagle Ford deal financing despite sizable dilution."},"keyFigures":{"dealValueUsd":1000000000,"customDimensions":{"kkr_commitment":"$500,000,000","greenshoe_option":"$150,000,000","kkr_ownership_stake":"approximately 7.9%"}},"quotedText":"An affiliate of KKR & Co. Inc., a leading global investment firm and investor in Crescent, has indicated a commitment to purchase up to $500 million of shares as part of the offering","namedEntities":{"people":[],"products":[],"companies":[{"name":"Crescent Energy Company","ticker":"CRGY","relationship":"filer/issuer"},{"name":"KKR & Co. Inc.","ticker":"KKR","relationship":"anchor investor / affiliate purchasing $500M of shares"},{"name":"Devon Energy Corporation","ticker":"DVN","relationship":"seller of Eagle Ford assets (acquisition target of assets)"},{"name":"J.P. Morgan","relationship":"joint book-running manager"},{"name":"KKR Capital Markets LLC","relationship":"joint book-running manager"},{"name":"Raymond James","relationship":"joint book-running manager"},{"name":"Independence Energy Aggregator L.P.","relationship":"KKR affiliate and ~7.9% Class A shareholder indicating $500M interest"}],"dollarAmounts":[{"amount":"$1,000,000,000","context":"size of Class A common stock public offering"},{"amount":"$500 million","context":"KKR affiliate indicated commitment to purchase shares"},{"amount":"$150,000,000","context":"underwriters' 30-day option to purchase additional shares"},{"amount":"$0.0001","context":"par value per Class A common share"}]},"materialImpact":{"score":4,"reasoning":"$1.0 billion equity offering is significant dilution for a mid-cap E&P, but ~50% of the deal ($500M) is backstopped by anchor investor KKR at the same terms and proceeds fund an accretive acquisition rather than general corporate purposes."},"tickerRelevance":{"others":[{"ticker":"KKR","relevance":"anchor investor whose affiliate is purchasing up to $500M of the offering"},{"ticker":"DVN","relevance":"seller of the Eagle Ford assets being acquired with offering proceeds"}],"primary":"CRGY"},"globalImportance":45,"audienceRelevance":35,"eventTypeSecondary":["dilution"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"$1B equity offering with $500M insider anchor","dealFinancingContext":"funds announced Devon Eagle Ford asset acquisition","dilutionSignificance":"~$1.15B potential shares against mid-cap float"}},"event_type":"offering","event_type_secondary":["dilution"],"sentiment":"mixed","material_impact_score":4,"narrative":"Crescent Energy launched an underwritten public offering of $1.0 billion of Class A common stock, with a 30-day underwriter option for up to $150 million more.\n\nAn affiliate of KKR, holding roughly 7.9% of Class A shares, has indicated interest in purchasing up to $500 million of the offering on the same terms as other buyers.\n\nProceeds are earmarked to fund part of the cash consideration for the acquisition of Eagle Ford assets from Devon Energy, expected to close in Q4 2026 or early 2027; if that deal fails, proceeds go to general corporate purposes including debt repayment.","key_figures":{"dealValueUsd":1000000000,"customDimensions":{"kkr_commitment":"$500,000,000","greenshoe_option":"$150,000,000","kkr_ownership_stake":"approximately 7.9%"}},"named_entities":{"people":[],"products":[],"companies":[{"name":"Crescent Energy Company","ticker":"CRGY","relationship":"filer/issuer"},{"name":"KKR & Co. Inc.","ticker":"KKR","relationship":"anchor investor / affiliate purchasing $500M of shares"},{"name":"Devon Energy Corporation","ticker":"DVN","relationship":"seller of Eagle Ford assets (acquisition target of assets)"},{"name":"J.P. Morgan","relationship":"joint book-running manager"},{"name":"KKR Capital Markets LLC","relationship":"joint book-running manager"},{"name":"Raymond James","relationship":"joint book-running manager"},{"name":"Independence Energy Aggregator L.P.","relationship":"KKR affiliate and ~7.9% Class A shareholder indicating $500M interest"}],"dollarAmounts":[{"amount":"$1,000,000,000","context":"size of Class A common stock public offering"},{"amount":"$500 million","context":"KKR affiliate indicated commitment to purchase shares"},{"amount":"$150,000,000","context":"underwriters' 30-day option to purchase additional shares"},{"amount":"$0.0001","context":"par value per Class A common share"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-08T11:23:08.835Z","global_importance":45,"audience_relevance":35,"importance_components":{"tickerTier":"mid-cap","eventGravity":"$1B equity offering with $500M insider anchor","dealFinancingContext":"funds announced Devon Eagle Ford asset acquisition","dilutionSignificance":"~$1.15B potential shares against mid-cap float"}},"durationMs":8618,"modelName":"glm-5.3-flashx"}}