Crescent Energy Operating LLC has taken another step in optimizing its Permian Basin portfolio with the completion of a new air permit for the UL Tilden 32 Gas Lift Pad in Ward County, Texas. While the permit itself is modest, it signals an important phase in the life of the wells tied to this pad: the transition from early production into long-term, managed output.

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.

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.