Crescent to acquire Vital Energy for $3.1bn.

Crescent, an independent energy company, agreed to acquire Vital Energy, an American company engaged in hydrocarbon exploration, for $3.1bn. “This combination represents compelling value for all shareholders, with attractive acquisition returns and significant accretion across all key financial metrics. We’ve always had a free cash flow focused strategy, and our model applied to these assets creates sustainable value for all shareholders. With this acquisition and our $1 billion non-core divestiture pipeline, we are better positioned than ever before. Crescent will have more focus, more scale and more potential to deliver long-term value to shareholders,” David Rockecharlie, Crescent CEO.