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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Total revenues $ 897,983 $ 653,283 $ 1,848,156 $ 1,310,756
Expenses:        
Lease operating expense 160,150 122,454 321,745 253,142
Workover expense 19,360 17,581 35,381 29,883
Asset operating expense 20,315 26,899 50,724 58,249
Gathering, transportation and marketing 106,074 65,851 211,362 135,420
Production and other taxes 55,105 31,065 115,487 63,588
Depreciation, depletion and amortization 297,056 212,382 579,629 388,946
Impairment of oil and natural gas properties 2,985 0 48,632 0
Exploration expense 5,574 193 5,880 193
Midstream and other operating expense 29,027 29,783 58,843 57,525
General and administrative expense 124,612 47,140 181,382 89,855
(Gain) loss on sale of assets (1,910) (19,449) (12,772) (19,449)
Total expenses 818,348 533,899 1,596,293 1,057,352
Income (loss) from operations 79,635 119,384 251,863 253,404
Other income (expense):        
Gain (loss) on derivatives 198,585 4,132 107,557 (101,470)
Interest expense (75,219) (42,359) (148,400) (85,045)
Loss from extinguishment of debt 0 0 0 (22,582)
Other income (expense) 115 624 231 774
Income (loss) from equity affiliates 439 (49) 831 78
Total other income (expense) 123,920 (37,652) (39,781) (208,245)
Income (loss) before taxes 203,555 81,732 212,082 45,159
Income tax benefit (expense) (41,057) (11,527) (43,670) (7,318)
Net income (loss) 162,498 70,205 168,412 37,841
Less: net (income) loss attributable to noncontrolling interests (1,299) 1,818 (3,288) (1,681)
Less: net (income) loss attributable to redeemable noncontrolling interests (7,978) (34,476) (14,050) (22,781)
Net income (loss) attributable to Crescent Energy $ 153,221 $ 37,547 $ 151,074 $ 13,379
Class A        
Net income (loss) per share:        
Basic (in USD per share) $ 0.61 $ 0.34 $ 0.68 $ 0.13
Diluted (in USD per share) $ 0.60 $ 0.33 $ 0.67 $ 0.13
Weighted average shares outstanding:        
Basic (in shares) 253,173,926 111,516,601 222,404,700 103,155,008
Diluted (in shares) 255,446,983 113,224,957 225,284,531 104,558,503
Class B        
Net income (loss) per share:        
Basic (in USD per share) $ 0 $ 0 $ 0 $ 0
Diluted (in USD per share) $ 0 $ 0 $ 0 $ 0
Weighted average shares outstanding:        
Basic (in shares) 2,076,903 65,948,124 33,493,957 75,140,432
Diluted (in shares) 2,076,903 65,948,124 33,493,957 75,140,432
Oil        
Revenues:        
Total revenues $ 602,488 $ 499,622 $ 1,222,147 $ 973,516
Natural gas        
Revenues:        
Total revenues 159,001 51,274 346,441 131,218
Natural gas liquids        
Revenues:        
Total revenues 98,142 66,903 205,717 133,850
Midstream and other        
Revenues:        
Total revenues $ 38,352 $ 35,484 $ 73,851 $ 72,172