Crescent Energy Enters Material Definitive Agreement

TL;DR

CRGY just signed a big deal, new financial obligation incoming.

AI Summary

On April 10, 2024, Crescent Energy Company entered into a Material Definitive Agreement related to a direct financial obligation. The company, formerly known as IE PubCo Inc., is incorporated in Delaware and headquartered in Houston, Texas.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Crescent Energy, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and new financial obligations can introduce financial risks and operational changes that warrant careful consideration.

Key Numbers

• 001-41132 — SEC File Number (Identifies Crescent Energy's filing with the SEC.)
• 87-1133610 — IRS Employer Identification No. (Tax identification number for Crescent Energy.)

Key Players & Entities

• Crescent Energy Company (company) — Registrant
• IE PubCo Inc. (company) — Former company name
• Delaware (jurisdiction) — State of Incorporation
• Houston, Texas (location) — Principal Executive Offices
• April 10, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — stered Class A Common Stock, par value $0.0001 per share CRGY The New York Stock Excha
• $1.7 billion — ed a reduction of the borrowing base to $1.7 billion from $2.0 billion and maintained electe
• $2.0 billion — the borrowing base to $1.7 billion from $2.0 billion and maintained elected commitments at $
• $1.3 billion — n and maintained elected commitments at $1.3 billion and extends the maturity date of any re

Filing Documents

• crgy-20240410.htm (8-K) — 30KB
• a240412_crgyxxexhx7thamcre.htm (EX-10.1) — 171KB
• 0001866175-24-000038.txt ( ) — 343KB
• crgy-20240410.xsd (EX-101.SCH) — 2KB
• crgy-20240410_lab.xml (EX-101.LAB) — 22KB
• crgy-20240410_pre.xml (EX-101.PRE) — 13KB
• crgy-20240410_htm.xml (XML) — 3KB

01

Item 1.01. Entry into a Material Definitive Agreement. On April 10, 2024, Crescent Energy Finance LLC, a Delaware limited liability company ("Crescent Finance") and wholly owned subsidiary of Crescent Energy Company (NYSE: CRGY) (the "Company"), entered into that certain Seventh Amendment to Credit Agreement (the "Credit Agreement Amendment"), which amended the Company's existing Credit Agreement, dated as of May 6, 2021 (as amended by the First Amendment to Credit Agreement, dated as of September 24, 2021, the Second Amendment to Credit Agreement, dated as of March 30, 2022, the Third Amendment to Credit Agreement, dated as of March 30, 2022, the Fourth Amendment to Credit Agreement, dated as of September 23, 2022, the Fifth Amendment to Credit Agreement, dated as of July 3, 2023, and the Sixth Amendment to Credit Agreement, dated December 13, 2023, and as further amended, modified, supplemented or restated from time to time, the "Credit Agreement"), by and among Crescent Finance, certain subsidiaries of Crescent Finance, as guarantors, Wells Fargo Bank, National Association, as administrative agent, collateral agent and a letter of credit issuer, and the other lenders and letter of credit issuers party thereto from time to time. Among other things, the Credit Agreement Amendment included a reduction of the borrowing base to $1.7 billion from $2.0 billion and maintained elected commitments at $1.3 billion and extends the maturity date of any revolving loans under the Credit Agreement to April 10, 2029 from September 23, 2027. The Credit Agreement Amendment also modifies the fee payable for the unused revolving commitments such that it is 0.375% or 0.50% per year based on utilization of the credit facility and maintains the applicable margin, so that the loans under the Credit Agreement will continue to be priced based on SOFR plus 2.35% to 3.35% or an adjusted base rate plus 1.25% to 2.25%, in each case, based on utilization of the credit facility. The foregoi

03

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under Item 1.01 is incorporated by reference into this Item 2.03.

01

Item 9.01.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit Description 10.1* Seventh Amendment to Credit Agreement, dated April 10, 2024, by and among Crescent Energy Finance LLC, certain subsidiaries of Crescent Energy Finance LLC, as guarantors, Wells Fargo Bank, National Association, as administrative agent, collateral agent and a letter of credit issuer, and the other lenders and letter of credit issuers party thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). *Certain of the schedules and exhibits to the agreement have been omitted pursuant to Item 601(a)(5) of Regulation S-K. A copy of any omitted schedule or exhibit will be furnished to the SEC upon request. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 12, 2024 CRESCENT ENERGY COMPANY By: /s/ Bo Shi Name: Bo Shi Title: General Counsel 3