Houston-based Crescent Energy said Tuesday it closed a deal to sell non-operated assets in Permian Basin for $83 million in cash to reduce debt. The assets in Reeves County projected 2025 production of about 3,000 boed (35 percent oil). CEO David Rockecharlie said the deal is part of the company’s plan for $250 million in non-core asset divestitures.
Crescent said it will update its 2025 outlook next month to reflect this divestiture. Its most recent guidance was 254,000 to 264,000 boed.