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Crescent Energy Company Class A ( (CRGY) ) has issued an announcement.
Crescent Energy Company is set to acquire Ridgemar Energy Operating, LLC for $805 million in cash and shares, with a potential $170 million earn-out based on future oil prices. The transaction, supported by Crescent’s board, underscores the company’s strategy to enhance its portfolio in the Eagle Ford region, leveraging low decline rates and existing production. Investors should note the acquisition’s alignment with Crescent’s focus on cash flow generation and operational efficiency, while the offering of 18 million shares of Class A stock aims to fund part of this acquisition.
For detailed information about CRGY stock, go to TipRanks’ Stock Analysis page.
