CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Revenues: | ||||
| Total revenues | $ 1,394,954 | $ 897,983 | $ 2,577,784 | $ 1,848,156 |
| Expenses: | ||||
| Lease and asset operating expense | 207,122 | 180,465 | 441,278 | 372,469 |
| Workover expense | 32,905 | 19,360 | 63,245 | 35,381 |
| Gathering, processing and transportation | 94,479 | 106,074 | 196,554 | 211,362 |
| Production and other taxes | 69,008 | 55,105 | 124,707 | 115,487 |
| Depreciation, depletion and amortization | 358,004 | 297,056 | 712,129 | 579,629 |
| Impairment of oil and natural gas properties | 0 | 2,985 | 0 | 48,632 |
| Exploration expense | 366 | 5,574 | 6,885 | 5,880 |
| Midstream and other operating expense | 4,158 | 29,027 | 10,904 | 58,843 |
| General and administrative expense | 61,494 | 124,612 | 124,294 | 181,382 |
| (Gain) loss on sale of assets | (13,568) | (1,910) | (10,690) | (12,772) |
| Total expenses | 813,968 | 818,348 | 1,669,306 | 1,596,293 |
| Income (loss) from operations | 580,986 | 79,635 | 908,478 | 251,863 |
| Other income (expense): | ||||
| Gain (loss) on derivatives | 181,883 | 198,585 | (524,708) | 107,557 |
| Interest expense | (99,823) | (75,219) | (204,397) | (148,400) |
| Loss from extinguishment of debt | 0 | 0 | (17,397) | 0 |
| Other income (expense) | 471 | 115 | 144 | 231 |
| Income (loss) from equity affiliates | 107 | 439 | 56 | 831 |
| Total other income (expense) | 82,638 | 123,920 | (746,302) | (39,781) |
| Income (loss) before taxes | 663,624 | 203,555 | 162,176 | 212,082 |
| Income tax benefit (expense) | (169,920) | (41,057) | (87,648) | (43,670) |
| Net income (loss) | 493,704 | 162,498 | 74,528 | 168,412 |
| Less: net (income) loss attributable to noncontrolling interests | (939) | (1,299) | (1,610) | (3,288) |
| Less: net (income) loss attributable to redeemable noncontrolling interests | 0 | (7,978) | 0 | (14,050) |
| Net income (loss) attributable to Crescent Energy | $ 492,765 | $ 153,221 | $ 72,918 | $ 151,074 |
| Class A | ||||
| Net income (loss) per share: | ||||
| Basic (in USD per share) | $ 1.49 | $ 0.61 | $ 0.22 | $ 0.68 |
| Diluted (in USD per share) | $ 1.30 | $ 0.60 | $ 0.21 | $ 0.67 |
| Weighted average shares outstanding: | ||||
| Basic (in shares) | 330,283,000 | 253,174,000 | 329,283,000 | 222,405,000 |
| Diluted (in shares) | 381,751,000 | 255,447,000 | 366,832,000 | 225,285,000 |
| Class B | ||||
| Net income (loss) per share: | ||||
| Basic (in USD per share) | $ 0 | $ 0 | $ 0 | $ 0 |
| Diluted (in USD per share) | $ 0 | $ 0 | $ 0 | $ 0 |
| Weighted average shares outstanding: | ||||
| Basic (in shares) | 0 | 2,077,000 | 0 | 33,494,000 |
| Diluted (in shares) | 0 | 2,077,000 | 0 | 33,494,000 |
| Oil | ||||
| Revenues: | ||||
| Total revenues | $ 1,226,826 | $ 602,488 | $ 2,120,146 | $ 1,222,147 |
| Natural gas | ||||
| Revenues: | ||||
| Total revenues | 33,776 | 159,001 | 192,141 | 346,441 |
| Natural gas liquids | ||||
| Revenues: | ||||
| Total revenues | 129,371 | 98,142 | 254,478 | 205,717 |
| Midstream and other | ||||
| Revenues: | ||||
| Total revenues | $ 4,981 | $ 38,352 | $ 11,019 | $ 73,851 |
| X | ||||||||||
- Definition Gathering, Processing And Transportation No definition available.
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- Definition Midstream And Other Operating Expense No definition available.
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- Definition Production And Other Taxes No definition available.
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- Definition Workover Expense No definition available.
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Exploration expenses (including prospecting) related to oil and gas producing entities and would be included in operating expenses of that entity. Costs incurred in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects of containing oil and gas reserves, including costs of drilling exploratory wells and exploratory-type stratigraphic test wells. Exploration costs may be incurred both before acquiring the related property (sometimes referred to in part as prospecting costs) and after acquiring the property. Principal types of exploration costs, which include depreciation and applicable operating costs of support equipment and facilities and other costs of exploration activities, are: (i) Costs of topographical, geographical and geophysical studies, rights of access to properties to conduct those studies, and salaries and other expenses of geologists, geophysical crews, and others conducting those studies. Collectively, these are sometimes referred to as geological and geophysical or "G&G" costs. (ii) Costs of carrying and retaining undeveloped properties, such as delay rentals, ad valorem taxes on properties, legal costs for title defense, and the maintenance of land and lease records. (iii) Dry hole contributions and bottom hole contributions. (iv) Costs of drilling and equipping exploratory wells. (v) Costs of drilling exploratory-type stratigraphic test wells. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of impairment loss for oil and gas properties with proved and unproved reserves in oil- and gas-producing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Portion of net income (loss) attributable to nonredeemable noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of Net Income (Loss) attributable to redeemable noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of operating lease expense. Excludes sublease income. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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