Add as a preferred source on GoogleCrescent Energy Sets 1.5x Leverage Target for Year-End 2027
Management says debt reduction will be the primary use of free cash flow after the fixed dividend and identified $140 million in annual deal synergies.
Crescent Energy is targeting leverage of about 1.5x by year-end 2027 and 1x by year-end 2028 as it pursues the acquisition of Devon Energy’s Eagle Ford assets.
Management said free cash flow after the company’s fixed dividend will primarily go toward reducing debt. Higher commodity prices could speed that effort, management said.
Crescent has agreed to buy Devon’s Eagle Ford assets for about $4.2 billion in cash. Management identified $140 million in annual synergies from the deal and expects to achieve that amount or more.
Management also said third-quarter 2026 production exceeded expectations and levered free cash flow was 23% above expectations.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.