Crescent Energy Enters Material Definitive Agreement

TL;DR

CRGY inked a big deal, expect financial moves.

AI Summary

On May 24, 2024, Crescent Energy Company entered into a material definitive agreement related to a 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 financial commitment or obligation for Crescent Energy, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or risks that may affect the company's performance.

Key Players & Entities

• Crescent Energy Company (company) — Registrant
• IE PubCo Inc. (company) — Former company name
• May 24, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• Houston, Texas (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.0001 — stered Class A Common Stock, par value $0.0001 per share CRGY The New York Stock Excha
• $500.0 million — of certain additional indebtedness from $500.0 million to $1.0 billion during the period begin
• $1.0 billion — nal indebtedness from $500.0 million to $1.0 billion during the period beginning on May 24,

Filing Documents

• crgy-20240524.htm (8-K) — 36KB
• crescent-eighthamendmentto.htm (EX-10.1) — 112KB
• 0001866175-24-000057.txt ( ) — 285KB
• crgy-20240524.xsd (EX-101.SCH) — 2KB
• crgy-20240524_lab.xml (EX-101.LAB) — 22KB
• crgy-20240524_pre.xml (EX-101.PRE) — 13KB
• crgy-20240524_htm.xml (XML) — 3KB

01

Item 1.01. Entry into a Material Definitive Agreement. On May 24, 2024, Crescent Energy Finance LLC, a Delaware limited liability company ("Crescent Finance") and wholly owned subsidiary of Crescent Energy Company (NYSE: CRGY) ("Crescent"), entered into that certain Eighth Amendment to Credit Agreement (the "Credit Agreement Amendment"), which amended Crescent'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, the Sixth Amendment to Credit Agreement, dated December 13, 2023 and the Seventh Amendment to Credit Agreement, dated April 10, 2024, 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 increased the threshold amount for the incurrence of certain additional indebtedness from $500.0 million to $1.0 billion during the period beginning on May 24, 2024 and ending on the scheduled redetermination date for the October 1, 2024 scheduled borrowing base redetermination. As a result, during this period, the borrowing base will not be required to be reduced by 0.25x of the principal amount of such new debt incurrences so long as the principal amount of such indebtedness does not exceed the $1.0 billion aggregate threshold. The foregoing description of the Credit Agreement Amendment does not purport to be complete and is qua

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* Eighth Amendment to Credit Agreement, dated May 24, 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. 3 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: May 30, 2024 CRESCENT ENERGY COMPANY By: /s/ Bo Shi Name: Bo Shi Title: General Counsel 4