Crescent Energy has announced the closing of the sale of non-operated Permian Basin assets to a private buyer for $83 million in cash, subject to customary post-closing purchase price adjustments. The assets are located in Reeves County, Texas and had projected full-year 2025 production of approximately 3 Mboe/d (~35% oil). Proceeds from the sale will be used to reduce outstanding borrowings on the Company’s revolving credit facility. The transaction has an effective date of December 31, 2024, and Crescent plans to update its 2025 outlook to reflect the divestiture alongside its first quarter 2025 financial and operating results.
'We are pleased to announce the closing of this accretive asset sale, which is part of our $250 million pipeline of non-core asset divestitures announced during our year-end earnings,' said Crescent CEO David Rockecharlie. 'As both investors and operators, we continually evaluate opportunities to enhance our portfolio, simplify our business and deliver value for investors.'
Source: Crescent Energy
