Crescent Energy Co (NYSE:CRGY)

Q2 2026 Crescent Energy Co Earnings Call Transcript

Aug 4, 2026 / 03:00 PM GMT

Release Date Price: $11.28 (-1.31%)

Transcript 10-Q8-K

Key Points

Positve

Record quarterly production of 335,000 boe/d and 140,000 bbl/d of oil, exceeding guidance.
Record levered free cash flow of $418 million in Q2 2026.
Raised full-year production guidance and improved operating expense guidance while maintaining capital range.
Permian synergy target increased to $250-$300 million, roughly three times the original target.
Strong balance sheet with $2.2 billion liquidity and no near-term maturities; redeemed $259 million of 2029 notes.
Eagle Ford well costs improved 5% year-over-year and are 25% below 2023 levels.
Uinta drilling efficiency up 25% and completion efficiency nearly doubled year-over-year.
Minerals and royalties business generating ~$200 million EBITDA at current prices.
Expect to generate over $1 billion in levered free cash flow in 2026.
Significant resource upside identified in Austin Chalk and other zones across the portfolio.

Negative

Q3 oil volumes expected to decline to mid-130s bbl/d due to timing of completions and transition to longer laterals.
2027 production expected to slightly decline from 2026 as capital intensity is reset in the Permian.
Base decline rate expected to remain at 25% in 2027, requiring ongoing optimization efforts.
Permian well productivity improvements are not yet fully realized; benefits from new development plans won't be seen until 2027.
Capital expenditure guidance remains unchanged, indicating no increase despite higher production and cost savings.
Potential for higher costs or delays as the company transitions to three-mile laterals in the Permian.
M&A market remains competitive, with high bar for acquisitions; internal opportunities may limit external growth.
Commodity price volatility and geopolitical risks could impact future results.
The company is still in early stages of unlocking full Permian value, with significant work remaining.
No immediate plans to increase Permian rig count, limiting near-term production growth.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CRGY.N - Crescent Energy Company
Q2 2026 Crescent Energy Co Earnings Call
Aug 04, 2026 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Hello, everyone. Thank you for joining us and welcome to Crescent Energy second quarter 2026 earnings conference call. After today's prepared remarks, we will host a question-and-answer session. If you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again. I will now hand the conference over to Reid Gallagher, Investor Relations. Reid, please go ahead.

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Unidentified_2 [2]
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Good morning, and thank you for joining Crescent's second-quarter 2026 conference call. Today's prepared remarks will come

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