Crescent Energy closed a sale of its non‑operated DJ Basin assets in Weld County, Colorado, for $90 million in cash. The assets, which produce 7,000 barrels of oil equivalent per day (7 Mboe/d), are being transferred to a private buyer under a post‑closing price‑adjustment agreement.
The transaction is part of a broader divestiture program that has generated more than $900 million year‑to‑date. By shedding lower‑margin, non‑core acreage, Crescent is sharpening its portfolio around high‑productivity, low‑decline assets. The proceeds will be used to pay down the company’s revolving credit facility, tightening leverage and improving financial flexibility.
The $90 million cash inflow will reduce debt by a comparable amount, improving debt‑to‑EBITDA ratios and freeing cash for future investments or shareholder returns. The divestiture also boosts free‑cash‑flow generation, supporting Crescent’s plan to return capital to shareholders while positioning the company for growth.
CEO David Rockecharlie said the sale “marks our sixth accretive asset sale year to date” and underscores Crescent’s ability to capture value in a volatile market. The company’s strategy of portfolio optimization, combined with the recent $3.1 billion all‑stock acquisition of Vital Energy, is reshaping Crescent into a top‑10 U.S. independent producer.
While no immediate market reaction was reported, the sale aligns with Crescent’s broader strategy of strengthening its balance sheet and focusing on core assets, a move that analysts view favorably.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.