Crescent Energy (CRGY) has completed its all-stock acquisition of Vital Energy, strengthening its balance sheet and accelerating its expansion in the Permian Basin—one of North America’s most valuable oil plays.
Vital Energy shareholders approved Crescent Energy’s $3.1 billion acquisition on December 14, clearing the final hurdle for a transaction that will close on December 15, 2025. With the vote complete and Vital shares set to be suspended from NYSE trading, the deal marks a defining moment—not just for the two companies, but for how independent oil and gas operators are positioning themselves for the next phase of the U.S. shale cycle.
Crescent Energy delivered one of its strongest operational updates yet in its Q3 2025 earnings call, and the spotlight once again fell on the Eagle Ford. In a basin where many operators are wrestling with declining well performance, Crescent is achieving the opposite: rising productivity, lower capital costs, and improved economics across its footprint. Their results show a company leveraging disciplined operations, technical optimization, and flexible commodity exposure to stay ahead of the curve.
Vital Energy’s recent air permit approval for the Rambo State TB facility and its active drilling program in Reeves County highlight a strong commitment to production growth in the Delaware Basin. With Crescent Energy’s $3.1 billion acquisition of Vital, Reeves County emerges as a cornerstone asset, blending regulatory approvals, drilling momentum, and strategic scale.
Crescent Energy (NYSE: CRGY) signed a definitive agreement to acquire Vital Energy (NYSE: VTLE) in an all-stock deal valued at ~$3.1B (incl. debt), creating a top-10 independent with a clear path toward an investment-grade profile.
