Crescent Energy (CRGY) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Tue, May 5, 2026 astatine 11:42 AM CDT 28 min read

Image source: The Motley Fool.

Date

Tuesday, May 5, 2026 astatine 11 a.m. ET

Call participants

• Chief Executive Officer — David C. Rockecharlie

• Chief Financial Officer — Brandi Kendall

• Chief Operating Officer — Joey

• President, Development — Clay Rynd

Need a punctuation from a Motley Fool analyst? Email [email protected]

Full Conference Call Transcript

David C. Rockecharlie: Good morning, and convey you for joining us. First, I would similar to accidental convey you to each of our investors, our talented colleagues, and everyone who has been portion of our travel arsenic the Crescent Energy Company team. Together, we person executed a accordant strategy, uniquely combining investing and operating expertise to present amended returns, much escaped currency flow, and profitable growth. Today, Crescent Energy Company is simply a top-10 U.S. autarkic lipid and state shaper with much scale, much focus, and much accidental than ever before. On this coagulated foundation, we volition proceed to physique tremendous worth successful the months and years ahead, and our update contiguous gives america large assurance successful Crescent Energy Company’s future.

Crescent Energy Company delivered different beardown quarter. We outperformed connected production, generated meaningful escaped currency flow, and made important advancement integrating our Permian assets. As always, I privation to statesman with 3 cardinal takeaways. First, beardown execution drove outperformance. We exceeded accumulation expectations driven by faster rhythm times and cardinal steps successful optimization of our producing base. We further accrued escaped currency travel done an opportunistic refinancing, lowering our outgo of capital. Second, we are thrilled with our Permian acquisition, wherever our integration is up of plan, and we spot meaningfully much upside each day. We person already exceeded our archetypal synergy target, capturing $120 cardinal to date, and we are seeing aboriginal improvements successful some good costs and production.

Third, our differentiated operation of investing and operating expertise continues to present important escaped currency flow, some successful the 4th and successful our aboriginal outlook. Let maine present sermon the 4th successful much detail. We produced a grounds 341 1000 barrels of lipid equivalent per time for the quarter, including 140 1000 barrels of lipid per day, and generated $192 cardinal of levered escaped currency flow. Importantly, archetypal 4th accumulation was supra expectations connected some full equivalent volumes and lipid volumes, driven mostly by basal accumulation outperformance and acceleration successful the Permian from improved rhythm times.

While our improvement program remains fundamentally unchanged, we are selectively accelerating volumes to seizure higher near-term returns portion continuing to thrust operational efficiencies and little good costs crossed our plus base. In the Eagle Ford, we proceed to spot dependable ratio gains. We proceed to summation our usage of simul-frac completions crossed our development, which is reducing costs and accelerating volumes. At the aforesaid time, we person strengthened our 2026 improvement programme done an progressive crushed game, expanding lateral lengths and moving interests. In the Permian, we are disconnected to a beardown commencement and capturing aboriginal wins. The archetypal signifier of our integration focused connected stabilizing the assets. We person right-sized superior strength and implemented our returns-driven operating approach.