Crescent Energy Posts Q1 Earnings, Boosted by Oil, Gas Volume Gains
Crescent Energy Company (CRGY) reported Q1 earnings Monday, showing average daily net sales volumes of 341,000 barrels of oil equivalent per day, up from 258,000 boe/d a year earlier.Crescent reported that it had outperformed average daily net sales volume estimates of 328,000 boe/d by about 4%.The company reported average daily net oil sales volumes of 140,000 barrels per day for the quarter ended March 31, up from 102,000 b/d a year earlier.Average daily net sales volumes for natural gas rose to 743 million cubic feet per day for the quarter, up from 655 MMcf/d, the company said.The company reported average daily net sales for natural gas liquids at 77,000 b/d, up from 47,000 b/d a year earlier, it added.Crescent Energy said it has achieved about $120 million in cost savings to date from its Permian integration, ahead of its original target.The company drilled 38 operated wells in Q1 and brought 37 wells online, while capital expenditures reached $385 million for the quarter, it said.Crescent Energy completed two Eagle Ford mineral acquisitions totaling about $355 million in Q1 2026, expanding its portfolio with additional exposure to undeveloped resources.
