Crescent Energy Co. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Crescent Energy Company on April 9, 2026. The report discloses preliminary results regarding commodity derivative settlements for the three-month period ended March 31, 2026.
Key Financial Metrics
The filing provides preliminary cash flow data related to derivative positions for the quarter ended March 31, 2026:
- Net cash paid on settlement of derivatives: $101 million
- Settlement of acquired derivative contracts: $61 million (positive adjustment)
- Total cash paid on commodity derivative positions: $40 million
The filing does not provide data on total revenue, net profit, operating margins, debt levels, or overall liquidity positions for the period.
Material Changes and Components
The total cash outflow of $40 million is the net result of gross derivative settlements offset by the settlement of contracts acquired through the SilverBow Merger and the Vital Merger. These acquired contract settlements are expected to be reported as positive adjustments on the Statements of Cash Flows and as additions to Adjusted EBITDAX. The report excludes a $15.0 million settlement of contingent earn-out consideration related to the Ridgemar Acquisition.
Guidance, Outlook, and Risks
Management characterizes the disclosed dollar amounts as preliminary and subject to change. The figures constitute forward-looking statements based on current expectations and are subject to assumptions, risks, and uncertainties. Final results for the quarter will be reported in the Company's Form 10-Q for the period ended March 31, 2026. The information in this Item 2.02 is not deemed "filed" for purposes of Section 18 of the Exchange Act.
Investor Verification Checklist
- Verify the final derivative settlement amounts in the upcoming Form 10-Q for the quarter ended March 31, 2026.
- Confirm the treatment of the $61 million acquired derivative settlement in the official Statements of Cash Flows and Adjusted EBITDAX calculations.
- Review the Form 10-Q for the full impact of the excluded $15.0 million Ridgemar Acquisition earn-out settlement.
- Assess the impact of the $40 million cash outflow on the Company's overall liquidity and capital allocation strategy once full quarterly results are available.