Crescent Energy closed its all-stock acquisition of Vital Energy in late 2025, creating a top ten liquids-weighted independent E&P company with enhanced scale and free cash flow generation.
The combined company will be led by a management team and board with deep operating and investing expertise, well-positioned to drive long-term growth and value creation.
Under the terms of the agreement, Vital shareholders will receive 1.9062 shares of Crescent Class A common stock for each share of Vital common stock. Crescent shareholders will own approximately 77% of the combined company and Vital shareholders will own approximately 23% of the combined company, on a fully diluted basis.