Crescent Energy Announces Pricing of $250 Million Private Placement of Additional 7.375% Senior Notes Due 2033
Summary
HOUSTON, September 05, 2024--(BUSINESS WIRE)--Crescent Energy Company (NYSE: CRGY) ("we" or "our") announced today that its indirect subsidiary Crescent Energy Finance LLC (the "Issuer") has priced its previously announced private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"), to eligible purchasers of $250 million aggregate principal amount of 7.375% Senior Notes due 2033 (the "Notes"). The Issuer intends to use the net proceeds from this offering to repay a portion of the amounts outstanding under its revolving credit facility. A number of factors could cause actual results to differ materially from the expectations, anticipated results or other forward-looking information expressed in this communication, including weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, uncertainties inherent in estimating natural gas and oil reserves and in projecting future rates of production, our hedging strategy and results, federal and state regulations and laws, upcoming elections and associated political volatility, the severity and duration of public health crises, actions by the Organization of the Petroleum Exporting Countries ("OPEC") and non-OPEC oil-producing countries, the impact of the armed conflict in Ukraine, continued hostilities in the Middle East, including the Israel-Hamas conflict and rising tensions with Iran, the impact of disruptions in the capital markets, the timing and success of business development efforts, including acquisition and disposition opportunities, our ability to integrate operations or realize any anticipated operational or corporate synergies and other benefits from the acquisition of SilverBow Resources, Inc., our reliance on our external manager, sustained cost inflation, elevated interest rates and central bank policy changes associated therewith and other uncertainties. Consequently, actual future results could differ materially from our expectations due to a number of factors, including, but not limited to, those items identified as such in the most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q and the risk factors described thereunder, filed by Crescent Energy Company with the U.S. Securities and Exchange Commission.Many of such risks, uncertainties and assumptions are beyond our ability to control or predict. We do not give any assurance (1) that we will achieve our expectations or (2) concerning any result or the timing thereof.All subsequent written and oral forward-looking statements concerning this offering, the use of proceeds therefrom, Crescent Energy Company and the Issuer or other matters and attributable thereto or to any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.