Crescent Energy Announces Pricing of $250 Million Private Placement of Additional 7.375% Senior Notes Due 2033 By Investing.com

HOUSTON – (Business): Crescent Energy Corporation (NYSE: CRGY) (we or our) today announced that its indirect subsidiary, Crescent Energy Finance LLC (the Issuer) has priced its previously announced private offering pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), to qualified purchasers of $250 million aggregate principal amount of 7.375% Senior Notes due 2033 (the “Notes”). The Notes mature on January 15, 2033 and pay interest at a rate of 7.375% per annum, payable on January 15 and July 15 of each year, with interest on the Notes commencing on January 15, 2025. The Notes are priced at 101% of par value, plus accrued and unpaid interest as of June 14, 2024. The Issuer intends to use the net proceeds from this offering to repay a portion of the outstanding amounts under the Revolving Credit Facility. This offering is expected to close on September 9, 2024, subject to customary closing conditions.

The Notes are being offered as additional notes pursuant to the subscription instrument dated June 14, 2024, as previously completed (the Subscription Instrument), pursuant to which the Issuer previously issued $750 million aggregate principal amount of 7.375% Notes due 2033 (the Existing Notes). The Notes will have substantially identical terms, other than the issue date and issue price, as the Existing Notes, and the Notes and the Existing Notes will be treated as a single series of securities under the Subscription Instrument and will be voted together as a single class.

The Notes and the related warrants have not been registered under the Securities Act or any state securities laws, and unless so registered, the Notes and the warrants may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws or in a transaction not subject to them. The Issuer intends to offer and sell the Notes only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act and to persons outside the United States under Regulation S under the Securities Act.

This release does not constitute an offer to sell, or the solicitation of an offer to buy, the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Crescent Energy

Crescent Energy Company is an American energy company with a portfolio of assets concentrated in Texas and the Rocky Mountains.

Cautionary Statement Regarding Forward-Looking Information

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on current expectations. The words and phrases “should,” “may,” “will,” “believe,” “contemplate,” “plan,” “intend,” “expect,” “potential,” “possible,” “anticipate,” “estimate,” “forecast,” “look forward,” “efforts,” “goal,” and similar expressions identify forward-looking statements and express our expectations about future events. This release includes statements regarding this private placement and the use of proceeds therefrom that may contain forward-looking statements within the meaning of the federal securities laws. We believe that our expectations are based on reasonable assumptions; however, no assurance can be given that such expectations will prove to be correct. A number of factors could cause actual results to differ materially from the expectations, anticipated results or other forward-looking information expressed in this release, including weather, political, economic and market conditions, including a decline in the price and market demand for natural gas liquids, the uncertainty inherent in estimating natural gas and oil reserves and in forecasting future production rates, our hedging strategy and results, federal and state regulations and laws, upcoming elections and related political volatility, the severity and duration of public health crises, actions taken by the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil-producing countries, the impact of armed conflict in Ukraine, continuing hostilities in the Middle East, including the conflict between Israel and Hamas and heightened tensions with Iran, the impact of disruptions in capital markets, the timing and success of business development efforts, including acquisition and disposition opportunities, and our ability to integrate operations or realize any anticipated operational or organizational synergies and other benefits from the acquisition of silver bow Resources (NYSE:), Inc., our reliance on our external manager, continued cost inflation, rising interest rates and related central bank policy changes and other uncertainties. All statements, other than statements of historical fact, included in this release that address activities, events or developments that we expect, believe or anticipate will occur or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. Consequently, actual future results may differ materially from our expectations due to a number of factors, including, without limitation, those items identified as such in Crescent Energy’s most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q and the risk factors described therein, which Crescent Energy has filed with the U.S. Securities and Exchange Commission.

Many of these risks, uncertainties and assumptions are beyond our ability to control or predict. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. We give no assurance (1) that we will achieve our expectations or (2) as to any outcome or timing thereof.

All subsequent written and oral forward-looking statements relating to this offering, the use of proceeds therefrom, Crescent Energy, the Issuer or any other matters that may be attributed to it or any person acting on its behalf are expressly subject to the cautionary statements set forth above. We undertake no duty to update or revise these forward-looking statements based on new information, future events or otherwise.

You can view the original press release on businesswire.com: https://www.businesswire.com/news/home/20240904512218/en/

IR@crescentenergyco.com

Source: Crescent Energy