Delivering On Strategic Priorities Robust Financial Performance Continued outperformance vs. expectations Reaffirming production guidance on 10% less capital Solid Operational Execution Improving D&C costs and increasing…
CRGY Performance: Strong Q3 Results Substantial Large, Low Decline Cash Flow Generation Base Production 430 MM Adj. EBITDAX(1) 219 Mboe/d 158 MM Levered FCF(1) 39% Oil / 58% Liquids Attractive Balance Sheet Return of Capital…
Capital Efficiencies and Accelerated Synergies Drive Enhanced Outlook Increased Guidance for the Third Consecutive Quarter this Year Updated 2H24 Outlook Prior Current 2H24 Outlook Outlook Change Avg. Daily Production 232 - 241…
Eagle Ford Quarterly Highlights: Premier Position with Attractive Commodity Diversification Scaled Footprint with Significant Incremental Growth Opportunity Eagle Ford Acreage Acreage Increasing Year-Over-Year Well…
Strong Eagle Ford Momentum: Positive Rate of Change Increasing Returns with Positive Well Productivity Trajectory CRGY Well Performance Relative Rate of Change vs. EF Peers (Avg Cum. Prod/ft)(1) (Avg Cum. Prod/ft 24 TiLs vs. 22-23…
Continued D&C Cost Improvement with Focused Execution Operational Efficiencies and Synergy Capture Drive 10% Improvement in Eagle Ford Well Costs Better Drilling Times Completion Efficiencies Lower D&C Costs (ft/day) (fluid bbl/day)…
Applying Operational Best Practices to Lower D&C Costs First U-Turn Wells on Legacy CRGY Assets and First Simulfrac on Legacy SBOW Assets Expected in Q4 U-Turn Wells Completion Techniques Simulfrac Zipper Dual Well Completion vs.…
Seamless Integration: Increasing SilverBow Synergy Target Initial Synergy Expectation Already Achieved with Efficient Integration to Date ( MM) Initial Captured Revised Synergy Progress Target To-Date Target Fully realized…
Continued Outperformance from Western EF Acquisitions Improved Operations and Cash Flow Drive Significant Incremental Returns; 260 MM of Synergy PV-10 on 850 MM of Combined Purchase Price Well Performance Synergy Capture (Cumulative…
Uinta Quarterly Highlights: Proven Oil Resource with Multi-Year Development Inventory Acquired Asset in Q122 for Production Value; Driving Incremental Returns Through Attractive Development Uinta Acreage Development Program…
Prudently Developing Uintas Resource Potential Industry Actively Delineating Significant Attractive Stacked Resource Play Stacked Pay Resource Prospective Benches Peers Monitoring Offset Operator Data Without Committing…
Successful Track Record of Accretive Acquisitions More Than Doubled in Scale Since Public Listing Through Consistent Execution Focused in Regions Where We Currently Operate Proven Acquisition Strategy(1) (Crescent…
Closed Accretive Central Eagle Ford Bolt-On 10/1 Low Decline Oil Production and High-Return Inventory Offset Existing EF Assets Central Eagle Ford Acreage Strong Investment Frio Atascosa Returns & Accretive to Key Financial…
BB Balance Sheet Reflects Financial Strength Targeting Investment Grade Balance Sheet Metrics Through Cycles Commitment to Balance Sheet Strength Maintain Ample Liquidity: Current liquidity is 3x our Current Leverage Total…
Decade-Plus History of Returning Cash to Shareholders Providing Shareholders with Consistent and Peer-Leading Fixed Dividend Return of Capital Framework: Fixed Dividend Yield Comparison(2) Consecutive 12 years Priority Fixed…
Transformed Equity Positioning Since Public Listing Recent S&P 600 Inclusion Generating Stable, Passive Ownership; Index Weighting to Expand as Float Increases Public Float Trading Liquidity 71% 30 MM 25% 4 MM (1) (1)…
Appendix CRESCENT ENERGY
Premier Eagle Ford Position Top Three Eagle Ford Operator Alongside EOG and ConocoPhillips Leading Eagle Ford Position Eagle Ford Oil Production(1) (Gross Operated - Mbbls/d) More than doubled net acres, production and 250…
Eagle Ford Asset Detail: Premier Position with Attractive Commodity Diversification Asset Detail Operated Central Southern Western Non-Op Net Acres 160k 100k 165k 33k Live Oak, Atascosa, Webb, La Salle, Dimmit, Webb, Zavala,…
Uinta Asset Detail: Proven Oil Resource with Multi-Year Development Inventory Asset Detail Uinta Net Acres 145k Counties Duchesne and Uintah Avg. WI / NRI 85% / 70% % Oil(1) 80% Current 1 Rigs Gross Locations(2)…
Hedge Position: Liquids Q4 2024 FY 2025(1) FY 2026(2) NYMEX WTI (Bbls, /Bbl) Swaps Total Volumes 3,280,730 6,441,500 2,476,050 Total Daily Volumes 35,660 17,648 6,784 WA Swap Price 71.93 72.68 70.82 Collars Total Volumes…
Hedge Position: Gas Q4 2024 FY 2025 FY 2026 NYMEX Henry Hub (MMBtu, /MMBtu) Swaps Total Volumes 26,420,370 55,205,000 41,745,000 Total Daily Volumes 287,178 151,247 114,370 WA Swap Price 3.91 3.97 3.98 Collars Total Volumes…
Per Unit Performance For the three months ended September 30, 2024 September 30, 2023 June 30, 2024 Average daily net sales volumes: Oil (Mbbls/d) 86 72 73 Natural gas (MMcf/d) 554 359 372 NGLs (Mbbls/d) 40 25 30 Total (Mboe/d)…
Adjusted EBITDAX & Levered Free Cash Flow Adjusted EBITDAX & Levered Free Cash Flow Crescent defines Adjusted EBITDAX as net income (loss) before interest expense, loss from extinguishment of debt, income tax expense (benefit),…
Adjusted EBITDAX & Levered Free Cash Flow (Contd) For the three months ended September 30, 2024 September 30, 2023 (in thousands) Net income (loss) (5,579) (131,102) Adjustments to reconcile to Adjusted EBITDAX: Interest expense…
Net LTM Leverage & PV-10 Reconciliation Net LTM Leverage Crescent defines Net LTM Leverage as the ratio of consolidated total debt to consolidated Adjusted EBITDAX as calculated under the credit agreement (the Credit Agreement)…
Adjusted Recurring Cash G&A Adjusted Recurring Cash G&A Crescent defines Adjusted Recurring Cash G&A as general and administrative expense, excluding equity- based compensation and transaction and nonrecurring expenses, and including…
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