Written by Will Ploch, Assistant Editor-in-Chief for Industrial Info Resources (Sugar Land, Texas)
Summary
Crescent Energy is turning its attention to big-name plays like the Permian Basin and Eagle Ford Shale, as the company acquires firms in related areas and trims its less productive, non-core assets.
Non-Core is Out the Door
Crescent Energy Company (Houston, Texas), an independent oil and gas exploration and production company, has spent much of 2025 shedding its non-core assets and focusing efforts on its most profitable developments. Earlier this week, the company announced it had closed a sale of its non-operated assets in the Denver-Julesburg (DJ) Basin to an unnamed private buyer for $90 million in cash, which followed other divestitures and a major acquisition in the Permian Basin. Industrial Info is tracking about $1.3 billion worth of active and proposed projects from Crescent, about half of which is attributed to drilling programs set to kick off in early 2026.
Earlier this year, Crescent announced divestitures in the conventional Rockies and Barnett Shale. Following its sale in the DJ Basin, Crescent said it had executed divestiture agreements exceeding $900 million so far this year, the remainder of which are expected to close before year-end. The company has set a $1 billion goal for non-core asset sales in 2025.
“With these asset sales, we are streamlining our portfolio at very attractive value, and the proceeds will go toward maintaining our strong balance sheet through significant debt reduction,” said David Rockecharlie, the chief executive officer of Crescent, in a recent quarterly earnings-related conference call. “With our successful divestitures and acquisition of Vital, we have enhanced and simplified Crescent’s value proposition with more scale, more focus and more opportunity.”…