Crescent Builds Out Texas Oil & Gas Assets

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Written by Will Ploch, Assistant Editor-in-Chief for IIR News Intelligence (Sugar Land, Texas)

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Summary

Following its acquisition of Vital Energy, Crescent enjoys a foothold across three U.S. basins, and it is preparing to further develop its flagship assets in the Eagle Ford Shale.

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A 'Vital' Gain

Call it beginner's luck: Crescent Energy Company--which was formed toward the end of 2021 and has been producing oil, natural gas and natural gas liquids (NGLs) ever since from the Eagle Ford Shale--recently expanded its footprint into the Permian Basin with its acquisition of Vital Energy. Executives at Crescent, which also owns assets in Utah's Uinta Basin, expect the acquisition will add substantially to its annual production. According to Industrial Info Resources data, Crescent already has $1.3 billion worth of projects set to kick off over the 2026 and 2027 calendar years in the Eagle Ford Shale.

Vital owned about 267,000 net acres in the Permian, with net production of 137,900 barrels of oil equivalent per day (boe/d), according to Vital's website. This is now part of Crescent's 1.4 million net acres across three U.S. basins, including more than 540,000 acres in the Eagle Ford. Crescent also expects the acquisition eventually will bring its total production to about 400,000 boe/d; in the first quarter of 2026, Crescent reported record production of 341,000 boe/d.

Industrial Info Resources is tracking nine compressor stations in the Permian formerly owned by Vital. These stations typically serviced smaller pipelines that fed into larger systems owned by companies such as Energy Transfer LP. For more information, Industrial Info Resources Global Market Intelligence (GMI) Oil & Gas Plant Database offer details--including capacities, construction history and key contacts--from a list of plant profiles.

Joey Hall, the chief operating officer of Crescent, said in a quarterly earnings-related conference call this week that his company already is seeing some upside to the acquisition: "We have quickly moved into the optimization process. Some of the first things that we did was rebid our services, which was incredibly timely because we had some 100% diesel fleets out there operating and we were able, through the bidding process, to find some dynamically gas-blending fleets."

David Rockecharlie, the chief executive officer of Crescent, added that the company had "already exceeded our initial synergy target" for the acquisition, "capturing $120 million to date, and we are seeing early improvements in both well costs and production."

By the Numbers

• $1.3 billion: Total value of Crescent's projects currently set to kick off in 2026 and 2027
• Nine: Compressor stations in the Permian Basin formerly owned by Vital, now part of Crescent
• 1.4 million: Crescent's total net acres across three U.S. basins

Let the Eagle Ford Soar

Despite its recent acquisition, Crescent does not appear to be adding any rigs to its existing fleet in the near future. "We are really pleased with the [mergers and acquisitions] that have taken place over the last three years--that is dollars in the ground in a $60 oil price environment, and we think in today's environment we should be grabbing as much cash flow as we can for the benefit of investors," Rockecharlie said in the earnings call. "So, we do not see increasing rig activity into a higher price environment. We see producing barrels at really high margin."

Industrial Info is tracking Crescent's ongoing drilling developments in the Eagle Ford via six county-based projects, each of which has separate programs slated to run from February through December in 2026 and 2027:

• Atascosa County, where it could drill more than 12 new wells by the end of next year
• Dimmit County, where it could drill more than 36 new wells
• Frio County, where it could drill more than 15 new wells
• La Salle County, where it could drill more than 10 new wells
• Live Oak County, where it could drill more than 11 new wells
• Webb County, where it could drill more than 100 new wells

For more information on these projects, readers can consult a detailed list of project reports.

"In the Eagle Ford, we continue to see steady efficiency gains," Rockcharlie said in the earnings call. "We continue to increase our use of simul-frac [simultaneous fracturing] completions across our development, which is reducing costs and accelerating volumes. At the same time, we have strengthened our 2026 development program through an active ground game, increasing lateral lengths and working interests."

Crescent reported revenues of $1.18 billion for first-quarter 2026, a 24.5% increase from the same period last year. The company reported a net loss of $419.18 million, which it attributed largely to the settlement of acquired oil, gas and NGL derivative contracts; first-quarter 2025 saw a net loss of $2.15 million.

Industrial Info Resources also offers a full list of reports for Crescent's projects currently set to kick off over the 2026 and 2027 calendar years.

Key Takeaways

• Crescent expanded its footprint into the Permian with its acquisition of Vital
• Crescent does not appear to be adding any rigs to its existing fleet in the near future.
• Crescent's ongoing drilling in the Eagle Ford comprise six county-based projects

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news, and analysis on the industrial process, manufacturing, and energy-related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified, and verified plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).