Crescent Energy Co-A 2025年季度报告

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and(2) has been subject to such filing requirements for the past 90 days.Yes☒ Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting Accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section7(a)(2)(B) of the Securities Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act): Yes☐No ☒ As of April30, 2025, there were approximately255,246,489shares outstanding of the registrant's Class A common stock. Glossary Cautionary Statement Regarding Forward-Looking Statements GLOSSARY The following are abbreviations and definitions of certain terms used in this document, which are commonly used in the oil and natural gasindustry: Barrel or Bbl —One stock tank barrel, or 42 United States gallons liquid volume.Boe —One barrel of oil equivalent determined using the ratio of six Mcf of natural gas to one barrel of crude oil or condensate.Boe/d —Barrels of oil equivalent per day.Brent—the reference price paid in U.S. dollars for a barrel of light sweet crude oil produced from the Brent field in the UK sector ofthe North Sea. Btu —British thermal unit, which is the heat required to raise the temperature of a one-pound mass of water one degree Fahrenheit. Henry Hub —Henry Hub is the major exchange for pricing natural gas futures on the New York Mercantile Exchange. It is frequentlyreferred to as the Henry Hub index. MBbls —One thousand Bbls or other liquid hydrocarbons.MBbl/d —One thousand Bbls or other liquid hydrocarbons per day.MBoe —One thousand Boe.MBoe/d —One thousand Boe per day.Mcf —One thousand cubic feet of natural gas.Mcf/d —One thousand Mcf per day.MMBoe —One million Boe.MMBtu —One million Btus.MMcf —One million Mcf.MMcf/d —One million Mcf per day.NYMEX —The New York Mercantile Exchange. Proved reserves —Proved reserves are those quantities of oil and natural gas, which, by analysis of geoscience and engineering data,can be estimated with reasonable certainty to be economically producible—from a given date forward, from known reservoirs andunder existing economic conditions, operating methods and government regulations—prior to the time at which contracts providing Working interest —The operating interest that gives the owner the right to drill, produce and conduct operating activities on the property and a share of production. WTI —A light crude oil produced in the United States with an American Petroleum Institute gravity of approximately 38-40 andsulfur content of approximately 0.3%. Cautionary Statement Regarding Forward-Looking Statements The information in this Quarterly Report on Form 10-Q (this "Quarterly Report") contains or incorporates by reference information thatincludes or is based upon "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the"Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements, other thanstatements of historical facts, included herein concerning, among other things, planned capital expenditures, increases in oil, natural gasand natural gas liquids (“NGL”) production, the number of anticipated wells to be drilled or completed after the date hereof, future cashflows and borrowings, pursuit of potential acquisition opportunities, our financial position, business strategy and other plans and objectivesfor future operations, are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases •commodity price volatility; •our business strategy;•our ability to integrate operations or realize any anticipated operational or corporate synergies and other benefits of ouracquisitions, including the Ridgemar Acquisition and SilverBow Merger;•the risk that each of the SilverBow Merger and the Ridgemar Acquisition may not be accretive, and may be dilutive, to Crescent’searnings per share, which may negatively affect the market price of Crescent common stock;•capital requirements and uncer