v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues:    
Total revenues $ 1,182,830 $ 950,172
Expenses:    
Lease and asset operating expense 234,156 192,005
Workover expense 30,340 16,022
Gathering, processing and transportation 102,075 105,287
Production and other taxes 55,699 60,381
Depreciation, depletion and amortization 354,125 282,573
Impairment of oil and natural gas properties 0 45,647
Exploration expense 6,519 306
Midstream and other operating expense 6,746 29,816
General and administrative expense 62,800 56,770
(Gain) loss on sale of assets 2,878 (10,862)
Total expenses 855,338 777,945
Income (loss) from operations 327,492 172,227
Other income (expense):    
Gain (loss) on derivatives (706,591) (91,028)
Interest expense (104,574) (73,182)
Loss from extinguishment of debt (17,397) 0
Other income (expense) (327) 115
Income (loss) from equity affiliates (51) 392
Total other income (expense) (828,940) (163,703)
Income (loss) before taxes (501,448) 8,524
Income tax benefit (expense) 82,272 (2,613)
Net income (loss) (419,176) 5,911
Less: net (income) loss attributable to noncontrolling interests (671) (1,989)
Less: net (income) loss attributable to redeemable noncontrolling interests 0 (6,072)
Net income (loss) attributable to Crescent Energy $ (419,847) $ (2,150)
Class A    
Net income (loss) per share:    
Basic (in USD per share) $ (1.28) $ (0.01)
Diluted (in USD per share) $ (1.28) $ (0.01)
Weighted average shares outstanding:    
Basic (in shares) 328,272,587 191,293,595
Diluted (in shares) 328,272,587 191,293,595
Class B    
Net income (loss) per share:    
Basic (in USD per share) $ 0 $ 0
Diluted (in USD per share) $ 0 $ 0
Weighted average shares outstanding:    
Basic (in shares) 0 65,260,089
Diluted (in shares) 0 65,260,089
Oil    
Revenues:    
Total revenues $ 893,320 $ 619,658
Natural gas    
Revenues:    
Total revenues 158,365 187,440
Natural gas liquids    
Revenues:    
Total revenues 125,107 107,575
Midstream and other    
Revenues:    
Total revenues $ 6,038 $ 35,499