Crescent Royalty Files IPO Draft; Share Count, Price Range Undecided

Crescent Energy’s indirect subsidiary Crescent Royalty Company filed a confidential draft registration statement for a proposed initial public offering, beginning a process to create a public market for its shares and gain access to capital markets.

The subsidiary submitted a draft Form S-1 to the SEC on Monday, Nov. 2. The proposed IPO would offer newly created Class A common stock.

Crescent is weighing an initial contribution of mineral and royalty holdings from the Eagle Ford. The company also cited exposure to the Permian, Appalachian and Denver-Julesburg basins, but has not specified a final asset package.

The number of shares and price range remain undetermined. The offering is subject to SEC review, further authorization from Crescent’s board, market conditions and other considerations; completion is not assured.

Crescent Energy’s existing Class A shares trade on the New York Stock Exchange under the ticker CRGY.