Crescent Energy Co
For the period ended Oct 8, 2026. Filed Oct 8, 2026.
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Oct 8, 2026 · Filed Oct 8, 2026
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CRGY$11.22+0.7%Stored close · as of Nov 6, 2026
Contents
EX-99.5 · (in thousands, except per share data)
(in thousands, except per share data)
| Crescent (Historical) · 2025 Acquisitions Adjustments(See Note 3) · Crescent Pro Forma for 2025 Acquisitions · Devon EF Assets(Historical) · Transaction Accounting Adjustments · Crescent Pro Forma Combined | |||||||
|---|---|---|---|---|---|---|---|
| Revenues: | |||||||
| Oil | $2,372,726 | $1,505,277 | $3,878,003 | $— | $844,358(a) | $4,722,361 | |
| Natural gas | 673,540 | 39,072 | 712,612 | — | 67,781(a) | 780,393 | |
| Natural gas liquids | 390,629 | 189,878 | 580,507 | — | 84,604(a) | 665,111 | |
| Midstream and other | 142,887 | 5,158 | 148,045 | — | — | 148,045 | |
| Operating revenues | — | — | — | 996,743 | (996,743)(a) | — | |
| Total revenues | 3,579,782 | 1,739,385 | 5,319,167 | 996,743 | — | 6,315,910 | |
| Expenses: | |||||||
| Lease and asset operating expense | 767,814 | 360,862 | 1,128,676 | — | 163,726(a) | 1,292,402 | |
| Workover expense | 74,537 | 63,829 | 138,366 | — | — | 138,366 | |
| Gathering, processing and transportation | 408,920 | 65,403 | 474,323 | — | 43,541(a) | 517,864 | |
| Production and other taxes | 219,416 | 101,160 | 320,576 | — | 57,686(a) | 378,262 | |
| Direct operating expenses | — | — | — | 264,953 | (264,953)(a) | — | |
| Depreciation, depletion and amortization | 1,166,902 | 284,552 | 1,451,454 | — | 422,135(b) | 1,873,589 | |
| Impairment expense | 254,551 | 1,005,242 | 1,259,793 | — | — | 1,259,793 | |
| Exploration expense | 16,795 | 2,257 | 19,052 | — | — | 19,052 | |
| Midstream and other operating expense | 116,945 | 10,850 | 127,795 | — | — | 127,795 | |
| General and administrative expense | 472,160 | 165,250 | 637,410 | — | — | 637,410 | |
| Gain on sale of assets | (147,537) | (2,416) | (149,953) | — | — | (149,953) | |
| Total expenses | 3,350,503 | 2,056,989 | 5,407,492 | 264,953 | 422,135 | 6,094,580 | |
| Income (loss) from operations | 229,279 | (317,604) | (88,325) | 731,790 | (422,135) | 221,330 | |
| Other income (expense): | |||||||
| Gain on derivatives | 302,901 | 273,564 | 576,465 | — | — | 576,465 | |
| Interest expense | (298,432) | (196,218) | (494,650) | — | (276,519)(c) | (771,169) | |
| Loss from extinguishment of debt | (29,248) | — | (29,248) | — | — | (29,248) | |
| Other income (expense) | (5,018) | 3,142 | (1,876) | — | — | (1,876) | |
| Income (loss) from equity affiliates | 2,188 | (345) | 1,843 | — | — | 1,843 | |
| Total other income (expense) | (27,609) | 80,143 | 52,534 | — | (276,519) | (223,985) | |
| Income (loss) before taxes | 201,670 | (237,461) | (35,791) | 731,790 | (698,654) | (2,655) | |
| Income tax expense | (34,504) | (329,153) | (363,657) | — | (7,290)(d) | (370,947) | |
| Net income (loss) | 167,166 | (566,614) | (399,448) | 731,790 | (705,944) | (373,602) | |
| Less: net income attributable to noncontrolling interests | (20,210) | — | (20,210) | — | — | (20,210) | |
| Less: net (income) loss attributable to redeemable noncontrolling interests | (14,050) | 11,651 | (2,399) | — | (1,673)(e) | (4,072) | |
| Net income (loss) attributable to Crescent Energy | $132,906 | $(554,963) | $(422,057) | $731,790 | $(707,617) | $(397,884) | |
| Net income (loss) per share: | |||||||
| Class A common stock – basic | $0.55 | $(1.35)(f) | $(1.27)(g) | ||||
| Class A common stock – diluted | $0.54 | $(1.35)(f) | $(1.27)(g) | ||||
| Class B common stock – basic and diluted | $— | $— | $— | ||||
| Weighted average shares outstanding: | |||||||
| Class A common stock – basic | 242,060 | 312,266(f) | 312,266(g) | ||||
| Class A common stock – diluted | 245,058 | 312,266(f) | 312,266(g) | ||||
| Class B common stock – basic and diluted | 16,609 | 16,609 | 16,609 | ||||
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