Crescent Energy to Acquire Vital Energy in a $3.1 Billion All-Stock Deal

Crescent Energy Company (CRGY) entered a merger agreement on August 25, 2025, to acquire Vital Energy, Inc. (VTLE) in an all-stock deal valued at $3.1 billion.

Deal Structure:

Vital shareholders will receive 1.9062 shares of Crescent Class A common stock for each share of Vital common stock, representing an implied value of $18.95 per share. The stock is at a premium of 20% from its last close.

Company Profile:

Vital Energy is an independent energy company focused on acquiring, exploring, and developing oil and natural gas properties in the Permian Basin of West Texas.

Crescent Energy is a U.S.-based energy company that acquires, develops, and produces oil, natural gas, and NGL reserves, with operations focused in Texas and the Rocky Mountain region.

Deal Details and Timeline:

Crescent shareholders will own approximately 77% of the combined company, while Vital shareholders will own about 23%.

The deal is expected to close by year-end 2025.

The Crescent board will expand to 12 members, including 2 new directors appointed by Vital. John Goff, who currently serves as Chairman of the Crescent Board, will continue as Non-Executive Chairman, and David Rockecharlie, who is currently Crescent’s CEO, will remain Chief Executive Officer of the combined company. Crescent will continue to be headquartered in Houston.

Houlihan Lokey, J.P. Morgan Securities, and Lazard are serving as financial advisors to Vital Energy, with Vinson & Elkins providing legal counsel. Crescent Energy is being advised by Jefferies and Evercore on financial matters, and Kirkland & Ellis is serving as legal counsel.

Crescent Energy is paying 2.06 times EBITDA for Vital Energy.

Deal Metrics:

For more information on this merger and acquisition transaction, please visit the Deal Metrics page here:
Deal Metrics for the acquisition of Vital Energy, Inc. (VTLE) by Crescent Energy Company (CRGY)

The Deal Metrics page provides detailed information such as:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And a whole lot more.

Disclaimer: Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.

Editor’s Note: Baranjot Kaur contributed to this article