Crescent Energy is a KKR-affiliated, acquisition-driven mid-cap E&P built by rolling up mature, cash-generative US assets — anchored in the Eagle Ford (bolstered by the 2024 SilverBow and 2025 Ridgemar deals) and complemented by Uinta/Rockies liquids.
The story is scale-through-M&A: 976 MMBoe of proved reserves (+38% Y/Y) and PV-10 near $8.6bn, but at the cost of a $5.5bn debt load, ~1.5x leverage and sharp dilution. Offers a diversified, low-decline, oil-weighted US onshore portfolio.
Its EV/EBITDA of 4.1x is below the 5.9x median across the 142-company universe, the free-cash-flow yield of 23.0% is higher than the 6.5% median, and at $8.71/boe of proved reserves it is cheaper than the $13.51/boe median.
On a balanced screen across the universe, Crescent Energy scores 54/100, strongest on growth (87/100). Sub-scores: value 64, quality 45, growth 87, risk 65 (higher = riskier).
Crescent Energy holds approximately 0.98 billion boe of proved (1P) reserves with FY2025 production of about 260 thousand boe/d (58% liquids), a reserve life of roughly 10.3 years. Break-even: ~$40 (WTI FCF breakeven) — Low-decline, oil-weighted base with active hedging supports FCF into the low-$40s WTI.
For Crescent Energy, no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| United States | 100% | 23 | Stable, deep; federal-lands leasing and permitting policy swings. |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| Eagle Ford (legacy + SilverBow) | United States | Oil | Core asset; ~half of production |
| Central Eagle Ford (Ridgemar) | United States | Oil | 2025 acquisition, oil-weighted |
| Uinta Basin | United States | Oil | Rockies liquids growth area |
| DJ Basin / Rockies | United States | Oil/Gas | Diversifying low-decline base |
| Barnett | United States | Gas | Legacy gas cash flow |
| Permian (non-op/minor) | United States | Oil | Smaller oil-weighted exposure |
| Western Eagle Ford | United States | Gas/Condensate | Gassier tier |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 108 | 130 | 150 | 202 | 260 |
| Proved reserves (bnboe) | 0.45 | 0.53 | 0.56 | 0.71 | 0.98 |
| Revenue ($bn) | 1.5 | 3.1 | 2.4 | 2.9 | 3.6 |
| EBITDA ($bn) | 0.6 | 1.4 | 1.2 | 1.6 | 2.1 |
| Net income ($bn) | -0.8 | 0.9 | 0.6 | -0.2 | 0.2 |
| Free cash flow ($bn) | 0.1 | 0.4 | 0.3 | 0.5 | 0.9 |
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✓ FY2025 figures verified against primary sources:
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