Crescent Energy Files Amended 8-K to Include Financials from Ridgemar Acquisition
HOUSTON, April 11, 2025 – Crescent Energy Company (NYSE: CRGY) has filed an amended Form 8-K to include required financial statements and pro forma financial information related to its acquisition of Ridgemar Energy Operating, LLC and Ridgemar (Eagle Ford) LLC. The acquisition was originally disclosed on January 31, 2025.

The amendment includes:

Audited financials of Ridgemar Energy Management, LLC for the years ended December 31, 2024 and 2023

Unaudited pro forma condensed combined financial information, reflecting the impact of the Ridgemar Acquisition on Crescent Energy’s 2024 financials

A reserve report from independent engineers DeGolyer and MacNaughton, estimating Ridgemar’s net proved reserves as of December 31, 2024

Crescent Energy acquired all outstanding interests in Ridgemar under a Membership Interest Purchase Agreement dated December 3, 2024.

For reference, the amended filing also includes consents from the independent auditors and reserve engineers.

Crescent Energy Reports Preliminary Hedge Settlement Results for Q1 2025

HOUSTON, TX – Crescent Energy Company (NYSE: CRGY) released a preliminary update on April 10, 2025, regarding hedge settlements for the first quarter of 2025.

The company anticipates receiving approximately $7 million in total cash from its hedge positions for the three months ended March 31, 2025. This figure includes:

$18 million in cash from the settlement of derivative contracts acquired in the SilverBow merger, and

$(11) million in net cash paid on other hedge settlements.

These preliminary results reflect Crescent's ongoing hedging strategy, which is designed to protect against commodity price fluctuations in the oil, gas, and natural gas liquids markets. The company stated that these amounts will be reflected in its Adjusted EBITDAX and cash flow statement.

The final, detailed financials for the quarter will be included in Crescent Energy’s Form 10-Q, to be filed at a later date. All figures are subject to change pending the completion of financial reporting procedures.

Crescent emphasized that this report includes forward-looking statements based on current expectations and noted the possibility of material differences once results are finalized.

Crescent Energy Company completed its acquisition of Ridgemar (Eagle Ford) LLC on January 31, 2025, for $830 million in cash and 5,454,546 shares of Class A Common Stock. An additional earn-out of up to $170 million may be paid based on crude oil prices in 2026 and 2027. The company also entered into a Registration Rights Agreement with the seller and amended certain contract and employee-related provisions in the Purchase Agreement. Financial statements and pro forma financial information will be filed within 71 days.