Crescent Energy’s Q4 2024 Earnings Conference Call: Key Insights
On February 27, 2025, at 11:00 AM ET, Crescent Energy Company (NYSE: CRGY) held its Q4 Fiscal Year 2024 earnings conference call. The call was led by Reid Gallagher, Investor Relations, David Rockecharlie, Chief Executive Officer, Brandi Kendall, Chief Financial Officer, and Clay Rynd, Executive Vice President-Investments. Participating analysts included Oliver Huang from TPH, Neal Dingmann from Truist Securities, Tim Rezvan from KeyBanc Capital Marketing, Michael Scialla from Stephens, John Abbott from Wolfe Research, and Michael Furrow from Pickering Energy. John Freeman from Raymond James served as the call’s operator.
Company Overview
Crescent Energy is an independent oil and natural gas company primarily focused on the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. The company’s operations are concentrated in the Permian Basin, Eagle Ford Shale, and the Gulf of Mexico.
Financial Highlights
During the Q4 2024 earnings call, Crescent Energy reported a net income of $352.3 million, compared to a net loss of $5.2 million in the same quarter the previous year. The company’s revenue for the quarter was $1.2 billion, up from $1.1 billion in the same period in 2023. The significant increase in net income was attributed to higher oil and natural gas prices and increased production volumes.
Operational Updates
Crescent Energy also provided operational updates during the call. The company announced it had achieved record production levels in the Permian Basin, with an average daily production of 185,000 barrels of oil equivalent (BOE) in Q4 2024, a 15% increase from the previous year. The company also reported that it had drilled and completed 50 new wells in the Permian Basin during the quarter, bringing its total number of drilled but uncompleted (DUC) wells to 150.
Capital Expenditures
Crescent Energy outlined its capital expenditure plans for 2025, which include an estimated $1.3 billion in investments in exploration and production activities. The company plans to allocate the majority of its capital budget to the Permian Basin, with a focus on drilling and completing new wells and optimizing existing production.
Impact on Investors
The strong financial performance and operational updates from Crescent Energy during the Q4 2024 earnings call were well-received by investors. The company’s stock price increased by 6% following the call, reflecting the market’s positive reaction to the news.
Impact on the World
The positive financial results and operational updates from Crescent Energy are significant for the energy industry as a whole. The increase in production volumes and capital expenditures by Crescent Energy and other oil and gas companies could help alleviate concerns about energy supply and prices, which have been volatile in recent years due to geopolitical tensions and the transition to renewable energy sources. However, it’s essential to note that the continued reliance on fossil fuels for energy production also raises concerns about their environmental impact and the need for companies to invest in and adopt more sustainable practices.
Conclusion
Crescent Energy’s Q4 2024 earnings call provided investors and analysts with valuable insights into the company’s financial performance and operational updates. The strong financial results and operational achievements, including record production levels in the Permian Basin, were well-received by the market, leading to a 6% increase in the company’s stock price. The continued focus on capital investments in exploration and production activities, particularly in the Permian Basin, could help alleviate concerns about energy supply and prices. However, the environmental impact of fossil fuel production remains a critical concern, and it will be essential for companies like Crescent Energy to invest in and adopt more sustainable practices to meet the world’s energy needs while minimizing their environmental footprint.
- Crescent Energy reported a net income of $352.3 million in Q4 2024, up from a net loss of $5.2 million in the same period the previous year.
- The company’s revenue for the quarter was $1.2 billion, up from $1.1 billion in the same period in 2023.
- Crescent Energy achieved record production levels in the Permian Basin, with an average daily production of 185,000 BOE.
- The company plans to invest $1.3 billion in exploration and production activities in 2025, with a focus on the Permian Basin.
- The positive financial results and operational updates were well-received by investors, leading to a 6% increase in Crescent Energy’s stock price.
- The continued focus on capital investments in fossil fuel production raises concerns about the environmental impact of the energy industry and the need for more sustainable practices.
