Houston-based Crescent Energy said last week it produced 335,000 boed in second quarter (42 percent oil, 64 percent liquids), including 140,000 b/d of oil. Crescent enhanced 2026 guidance for total production and oil production and reduced forecast for operating costs. Capital expenses in Q2 were $284 million. The company improved capital efficiency and returns through lower development costs in Permian Basin, Eagle Ford and Uinta Basin.
In Q2 the company drilled 43 gross operated wells (9 in Permian, 26 in Eagle Ford, 8 in Uinta) and brought online 32 (12 in Permian, 16 in Eagle Ford, 4 in Uinta).
CEO David Rockecharlie said Aug. 3, “Crescent delivered another record quarter… Higher production, structurally lower costs and record free cash flow” supported “an enhanced fullyear outlook.” CFO Brandi Kendall added, “We are increasing fullyear total production guidance to 327,000 to 335,000 boed” and “improving our adjusted operating expense guidance by $0.50 to $11-to-$12 per barrel of oil equivalent.”
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