Crescent Energy Acquires TXO Energy for $1.1B

TL;DR

CRGY buying TXO for $1.1B, boosting Permian presence.

AI Summary

Crescent Energy Company (CRGY) announced on June 23, 2025, that it has entered into a definitive agreement to acquire all of the outstanding equity interests of TXO Energy Partners, LP. The transaction is valued at approximately $1.1 billion, including the assumption of debt. This acquisition is expected to close in the third quarter of 2025, subject to customary closing conditions.

Why It Matters

This acquisition significantly expands Crescent Energy's footprint in the Permian Basin, potentially leading to increased production and operational efficiencies.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks related to integration, financing, and potential overpayment, especially in the volatile energy sector.

Key Numbers

• $1.1B — Acquisition Value (Total consideration for TXO Energy Partners, LP, including debt.)

Key Players & Entities

• Crescent Energy Company (company) — Acquiring entity
• TXO Energy Partners, LP (company) — Target entity
• $1.1 billion (dollar_amount) — Acquisition valuation
• June 23, 2025 (date) — Announcement date
• third quarter of 2025 (date) — Expected closing period

FAQ

From the Filing

0001628280-25-032822.txt : 20250624 0001628280-25-032822.hdr.sgml : 20250624 20250624160522 ACCESSION NUMBER: 0001628280-25-032822 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20250623 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20250624 DATE AS OF CHANGE: 20250624 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Crescent Energy Co CENTRAL INDEX KEY: 0001866175 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] ORGANIZATION NAME: 01 Energy & Transportation EIN: 871133610 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-41132 FILM NUMBER: 251068983 BUSINESS ADDRESS: STREET 1: 600 TRAVIS STREET STREET 2: SUITE 7200 CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 713-332-7001 MAIL ADDRESS: STREET 1: 600 TRAVIS STREET STREET 2: SUITE 7200 CITY: HOUSTON STATE: TX ZIP: 77002 FORMER COMPANY: FORMER CONFORMED NAME: IE PubCo Inc. DATE OF NAME CHANGE: 20210607 8-K 1 crgy-20250623.htm 8-K crgy-20250623 0001866175 False 0001866175 2025-06-23 2025-06-23 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): June 23, 2025 Crescent Energy Company (Exact name of registrant as specified in its charter) Delaware 001-41132 87-1133610 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 600 Travis Street , Suite 7200 Houston , Texas      77002 (address of principal executive offices) (zip code) Registrant’s telephone number, including area code: ( 713 ) 332-7001 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Class A Common Stock, par value $0.0001 per share CRGY The New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 7.01.    Regulation FD Disclosure. On June 23, 2025, Crescent Energy Finance LLC, a Delaware limited liability company (the “Issuer”) and indirect subsidiary of Crescent Energy Company (NYSE: CRGY) (the “Company”), issued a news release announcing the pricing of $600 million aggregate principal amount of its 8.375% Senior Notes due 2034 (the “Notes”). A copy of the news release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. In addition, the information contained in Item 8.01 of this Current Report on Form 8-K is incorporated into this Item 7.01 by reference. The information contained in this Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exc