Bookrunner
Crescent Energy Company
Equity Capital Markets
Follow-On Offering
Transaction Details
On October 8, 2026, Crescent Energy Company (the “Company”) (NYSE: CRGY) announced the pricing of an underwritten, public offering of 80,000,000 shares of its Class A common stock at a price to the public of $12.50 per share
Independence Energy Aggregator L.P., an entity affiliated with KKR & Co. Inc., and a holder of approximately 7.9% of the Company’s Class A common stock, has agreed to purchase 40,000,000 shares of Class A common stock at the public offering price and on the same terms as the other shares of Class A common stock
The Company has granted the underwriters a 30-day option to purchase up to 12,000,000 additional shares of Class A common stock at the public offering price, less the underwriting discounts and commissions
The Company intends to use the net proceeds it receives from the offering to fund a portion of the cash consideration for its recently announced acquisition of certain Eagle Ford oil and natural gas assets from Devon Energy Production Company, L.P., a subsidiary of Devon Energy Corporation (the “Devon EF Assets Acquisition”), which is expected to close in the fourth quarter of 2026 or early 2027
- If the Devon EF Assets Acquisition is not completed, the proceeds from the offering will be used for general corporate purposes, including the repayment of indebtedness of the Company’s subsidiaries
About the company
Crescent Energy Company is a U.S. energy company with activities focused in the Eagle Ford, Permian and Uinta Basins, and minerals and royalty interests across U.S. oil and natural gas basins, with a core focus in the Eagle Ford.
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Sources: Company Filings and Press Release.
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The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following link: https://www.sec.gov/Archives/edgar/data/1866175/000162828026065391/crgy-424b3october2026.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.
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