Crescent Energy Co Announces $1B Stock Offering

By Bobby Samwell • Tuesday, October 13 01:46 • Permanent Link

Crescent Energy launched a public offering of $1 billion of Class A common stock on Oct. 8, 2026, with the company saying it may add another $150 million through a 30-day underwriters’ option.

An affiliate of KKR, Independence Energy Aggregator LP, said it may buy up to $500 million of the shares at the same offering price and terms. Crescent said that affiliate already holds about 7.9% of the company’s Class A common stock.

Crescent said it plans to use the proceeds to help fund its recently announced purchase of certain Eagle Ford oil and natural gas assets from Devon Energy Production Co. LP. That deal is expected to close in the fourth quarter of 2026 or early 2027.

If the Devon asset deal does not close, Crescent said it will use the money for general corporate purposes, including repayment of debt at its subsidiaries. As a result of these announcements, the company's shares have moved -2.69% on the market, and are now trading at a price of $12.66. If you want to know more, read the company's complete 8-K report here.

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