Wed, Feb 26, 9:33 PM (60 days ago)
**Crescent Energy Company (CRGY) Summary:** For the fiscal year ending December 31, 2024, Crescent Energy Company reported a net loss of $137.7 million, with total revenues of $2,930.9 million, up 23% from the previous year, driven by increased production from acquisitions, notably the SilverBow Merger. Operating expenses rose 32% to $2,712.5 million, influenced by higher lease operating costs and general administrative expenses, including significant equity-based compensation. The company’s Adjusted EBITDAX reached $1,598.3 million, a 56% increase, while Levered Free Cash Flow grew 103% to $630.2 million. Crescent's strategy focuses on disciplined growth through acquisitions, maintaining a low-decline production base, and generating free cash flow. The company's total proved reserves stood at 709.3 million Boe, with a 63% liquids composition. The firm faces risks including commodity price volatility, regulatory changes, and operational challenges linked to rising costs and geopolitical tensions. Looking ahead, Crescent aims to navigate a complex regulatory environment, particularly following the Inflation Reduction Act, which introduces new costs and emissions charges. The company has a robust capital structure, with no outstanding borrowings under its Revolving Credit Facility as of year-end, but significant debt obligations remain from recent senior note issuances.