Crescent Energy Completes $90 Million Sales of DJ Basin Assets
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Crescent Energy has completed the sale of its non-operated DJ Basin assets to a private buyer for $90 million. The assets, primarily located in Weld County, Colorado, have current production of approximately 7 Mboe/d (~20 percent oil).
“This marks our sixth accretive asset sale year to date. Our successful non-core divestiture program enhances our business and underscores our ability to navigate a volatile market and capture attractive value for our investors,” said David Rockecharlie, chief executive officer of Crescent.
This transaction is the latest update to Crescent’s non-core divestiture program. Including this sale, Crescent has executed agreements exceeding $900 million year-to-date. The company has recently closed its conventional Rockies and Barnett divestitures and expects the remainder of its announced non-core asset sales to close before year-end.
Crescent Energy is a differentiated U.S. energy company committed to delivering value for shareholders through a disciplined growth through acquisition strategy and consistent return of capital. Their long-life, balanced portfolio combines stable cash flows from low-decline production with deep, high-quality development inventory. Their activities are focused in Texas and the Rocky Mountain region.
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