Financing ·
Crescent Energy amends credit agreement to permit $2.0 billion bridge facility for Devon acquisition
CRGYCrescent Energy Co
Crescent Energy Finance LLC entered into the Sixteenth Amendment to its Credit Agreement, which permits the company to incur up to $2.0 billion in unsecured 364-day bridge debt to fund a portion of the cash consideration for its previously announced acquisition of certain Eagle Ford assets from Devon Energy. The amendment also allows for additional pari passu term loans and excludes up to $1.0 billion of new indebtedness from borrowing base reduction requirements through April 2027. Concurrently, Crescent disclosed that it expects to report approximately $144 million in net cash paid on commodity derivative settlements for the three months ended September 30, 2026. Crescent Energy Company is an independent oil and gas exploration and production company based in Houston.