crgy-20220331

0001866175FALSEQ12022December 31P1Y00018661752022-01-012022-03-310001866175us-gaap:CommonClassAMember2022-04-30xbrli:shares0001866175us-gaap:CommonClassBMember2022-04-3000018661752022-03-31iso4217:USD00018661752021-12-310001866175us-gaap:CommonClassAMember2021-12-31iso4217:USDxbrli:shares0001866175us-gaap:CommonClassAMember2022-03-310001866175us-gaap:CommonClassBMember2021-12-310001866175us-gaap:CommonClassBMember2022-03-310001866175srt:OilReservesMember2022-01-012022-03-310001866175srt:OilReservesMember2021-01-012021-03-310001866175us-gaap:NaturalGasProductionMember2022-01-012022-03-310001866175us-gaap:NaturalGasProductionMember2021-01-012021-03-310001866175srt:NaturalGasLiquidsReservesMember2022-01-012022-03-310001866175srt:NaturalGasLiquidsReservesMember2021-01-012021-03-310001866175crgy:MidstreamAndOtherMember2022-01-012022-03-310001866175crgy:MidstreamAndOtherMember2021-01-012021-03-3100018661752021-01-012021-03-310001866175us-gaap:CommonClassAMember2022-01-012022-03-310001866175us-gaap:CommonClassAMember2021-01-012021-03-310001866175us-gaap:CommonClassBMember2022-01-012022-03-310001866175us-gaap:CommonClassBMember2021-01-012021-03-310001866175us-gaap:MemberUnitsMember2020-12-310001866175us-gaap:CommonClassAMemberus-gaap:CommonStockMember2020-12-310001866175us-gaap:CommonClassBMemberus-gaap:CommonStockMember2020-12-310001866175us-gaap:PreferredStockMember2020-12-310001866175us-gaap:TreasuryStockMember2020-12-310001866175us-gaap:AdditionalPaidInCapitalMember2020-12-310001866175us-gaap:RetainedEarningsMember2020-12-310001866175us-gaap:NoncontrollingInterestMember2020-12-3100018661752020-12-310001866175us-gaap:MemberUnitsMember2021-01-012021-03-310001866175us-gaap:NoncontrollingInterestMember2021-01-012021-03-310001866175us-gaap:MemberUnitsMember2021-03-310001866175us-gaap:CommonClassAMemberus-gaap:CommonStockMember2021-03-310001866175us-gaap:CommonClassBMemberus-gaap:CommonStockMember2021-03-310001866175us-gaap:PreferredStockMember2021-03-310001866175us-gaap:TreasuryStockMember2021-03-310001866175us-gaap:AdditionalPaidInCapitalMember2021-03-310001866175us-gaap:RetainedEarningsMember2021-03-310001866175us-gaap:NoncontrollingInterestMember2021-03-3100018661752021-03-310001866175us-gaap:CommonClassAMemberus-gaap:CommonStockMember2021-12-310001866175us-gaap:CommonClassBMemberus-gaap:CommonStockMember2021-12-310001866175us-gaap:PreferredStockMember2021-12-310001866175us-gaap:TreasuryStockMember2021-12-310001866175us-gaap:AdditionalPaidInCapitalMember2021-12-310001866175us-gaap:RetainedEarningsMember2021-12-310001866175us-gaap:NoncontrollingInterestMember2021-12-310001866175us-gaap:RetainedEarningsMember2022-01-012022-03-310001866175us-gaap:NoncontrollingInterestMember2022-01-012022-03-310001866175us-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-310001866175us-gaap:CommonClassAMemberus-gaap:CommonStockMember2022-03-310001866175us-gaap:CommonClassBMemberus-gaap:CommonStockMember2022-03-310001866175us-gaap:PreferredStockMember2022-03-310001866175us-gaap:TreasuryStockMember2022-03-310001866175us-gaap:AdditionalPaidInCapitalMember2022-03-310001866175us-gaap:RetainedEarningsMember2022-03-310001866175us-gaap:NoncontrollingInterestMember2022-03-31crgy:state0001866175crgy:IndependenceMineralsHoldingsLLCAndCrescentEnergyFinanceLLCMembercrgy:CrescentEnergyOpCoLLCMember2022-01-012022-03-31xbrli:pure0001866175crgy:CrescentEnergyCompanyMembercrgy:IndependenceMineralsHoldingsLLCMemberus-gaap:CommonClassBMember2022-03-310001866175crgy:CrescentEnergyCompanyMembercrgy:IndependenceMineralsHoldingsLLCMembercrgy:ClassACommonStockAndClassBCommonStockMember2022-03-310001866175crgy:CrescentEnergyCompanyMembercrgy:ContangoMembercrgy:ClassACommonStockAndClassBCommonStockMember2022-03-310001866175crgy:CrescentEnergyOpCoLLCMember2022-01-012022-03-310001866175us-gaap:CommonClassBMemberus-gaap:CommonStockMember2022-01-012022-03-310001866175us-gaap:SubsequentEventMember2022-04-012022-04-300001866175crgy:UintaTransactionMember2022-03-012022-03-310001866175crgy:UintaTransactionMember2022-03-310001866175us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2022-03-31iso4217:USDutr:bbl0001866175crgy:ContangoMemberus-gaap:CommonClassAMember2021-12-012021-12-3100018661752021-12-012021-12-310001866175crgy:ContangoMember2021-12-012021-12-310001866175crgy:ContangoMember2022-01-012022-03-310001866175crgy:ContangoMember2021-12-310001866175crgy:CentralBasinPlatformMember2021-12-012021-12-310001866175crgy:CentralBasinPlatformMember2021-12-310001866175crgy:DJBasinAcquisitionMember2021-03-012021-03-310001866175crgy:DJBasinAcquisitionMember2021-03-310001866175crgy:ChamaEnergyLLCMember2022-02-280001866175crgy:ChamaEnergyLLCMembersrt:BoardOfDirectorsChairmanMember2022-02-280001866175crgy:ChamaEnergyLLCMember2022-01-012022-03-310001866175crgy:ChamaEnergyLLCMember2022-03-310001866175us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMembercrgy:ClaiborneParishLouisianaMember2021-12-012021-12-310001866175us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMembercrgy:ArkomaBasinMember2021-05-012021-05-310001866175us-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMembercrgy:ArkomaBasinMember2021-01-012021-12-310001866175crgy:WTIIndexMemberus-gaap:SwapMembersrt:CrudeOilMembercrgy:DerivativeContractPeriodOneMember2022-01-012022-03-31utr:bbl0001866175crgy:WTIIndexMemberus-gaap:SwapMembersrt:CrudeOilMembercrgy:DerivativeContractPeriodOneMember2022-03-310001866175crgy:WTIIndexMemberus-gaap:SwapMembersrt:CrudeOilMembercrgy:DerivativeContractPeriodTwoMember2022-01-012022-03-310001866175crgy:WTIIndexMemberus-gaap:SwapMembersrt:CrudeOilMembercrgy:DerivativeContractPeriodTwoMember2022-03-310001866175crgy:WTIIndexMembercrgy:DerivativeContractPeriodThreeMemberus-gaap:SwapMembersrt:CrudeOilMember2022-01-012022-03-310001866175crgy:WTIIndexMembercrgy:DerivativeContractPeriodThreeMemberus-gaap:SwapMembersrt:CrudeOilMember2022-03-310001866175us-gaap:SwapMembersrt:CrudeOilMembercrgy:BrentIndexMembercrgy:DerivativeContractPeriodOneMember2022-01-012022-03-310001866175us-gaap:SwapMembersrt:CrudeOilMembercrgy:BrentIndexMembercrgy:DerivativeContractPeriodOneMember2022-03-310001866175us-gaap:SwapMembersrt:CrudeOilMembercrgy:DerivativeContractPeriodTwoMembercrgy:BrentIndexMember2022-01-012022-03-310001866175us-gaap:SwapMembersrt:CrudeOilMembercrgy:DerivativeContractPeriodTwoMembercrgy:BrentIndexMember2022-03-310001866175crgy:DerivativeContractPeriodThreeMemberus-gaap:SwapMembersrt:CrudeOilMembercrgy:BrentIndexMember2022-01-012022-03-310001866175crgy:DerivativeContractPeriodThreeMemberus-gaap:SwapMembersrt:CrudeOilMembercrgy:BrentIndexMember2022-03-310001866175crgy:WTIIndexMembersrt:CrudeOilMembercrgy:DerivativeContractPeriodTwoMembercrgy:CollarMember2022-01-012022-03-310001866175crgy:WTIIndexMembercrgy:DerivativeContractPeriodTwoMembersrt:CrudeOilMembersrt:MinimumMembercrgy:CollarMember2022-03-310001866175crgy:WTIIndexMembercrgy:DerivativeContractPeriodTwoMembersrt:CrudeOilMembersrt:MaximumMembercrgy:CollarMember2022-03-310001866175crgy:WTIIndexMembersrt:CrudeOilMembercrgy:DerivativeContractPeriodTwoMembercrgy:CollarMember2022-03-310001866175us-gaap:SwapMembercrgy:DerivativeContractPeriodOneMembersrt:NaturalGasReservesMember2022-01-012022-03-31utr:MMBTU0001866175us-gaap:SwapMembercrgy:DerivativeContractPeriodOneMembersrt:NaturalGasReservesMember2022-03-310001866175us-gaap:SwapMembercrgy:DerivativeContractPeriodTwoMembersrt:NaturalGasReservesMember2022-01-012022-03-310001866175us-gaap:SwapMembercrgy:DerivativeContractPeriodTwoMembersrt:NaturalGasReservesMember2022-03-310001866175crgy:DerivativeContractPeriodThreeMemberus-gaap:SwapMembersrt:NaturalGasReservesMember2022-01-012022-03-310001866175crgy:DerivativeContractPeriodThreeMemberus-gaap:SwapMembersrt:NaturalGasReservesMember2022-03-310001866175us-gaap:SwapMembercrgy:DerivativeContractPeriodOneMembersrt:NaturalGasLiquidsReservesMember2022-01-012022-03-310001866175us-gaap:SwapMembercrgy:DerivativeContractPeriodOneMembersrt:NaturalGasLiquidsReservesMember2022-03-310001866175srt:CrudeOilMemberus-gaap:BasisSwapMembercrgy:DerivativeContractPeriodOneMember2022-01-012022-03-310001866175srt:CrudeOilMemberus-gaap:BasisSwapMembercrgy:DerivativeContractPeriodOneMember2022-03-310001866175us-gaap:BasisSwapMembercrgy:DerivativeContractPeriodOneMembersrt:NaturalGasReservesMember2022-01-012022-03-310001866175us-gaap:BasisSwapMembercrgy:DerivativeContractPeriodOneMembersrt:NaturalGasReservesMember2022-03-31iso4217:USDutr:MMBTU0001866175us-gaap:SwapMembersrt:CrudeOilMembercrgy:DerivativeContractPeriodOneMember2022-01-012022-03-310001866175us-gaap:SwapMembersrt:CrudeOilMembercrgy:DerivativeContractPeriodOneMember2022-03-310001866175crgy:DerivativeContractPeriodTwoMembercrgy:CollarMembersrt:NaturalGasReservesMember2022-01-012022-03-310001866175crgy:DerivativeContractPeriodTwoMembersrt:MinimumMembercrgy:CollarMembersrt:NaturalGasReservesMember2022-03-310001866175crgy:DerivativeContractPeriodTwoMembersrt:MaximumMembercrgy:CollarMembersrt:NaturalGasReservesMember2022-03-310001866175crgy:DerivativeContractPeriodTwoMembercrgy:CollarMembersrt:NaturalGasReservesMember2022-03-310001866175crgy:DerivativeContractPeriodThreeMembercrgy:CollarMembersrt:NaturalGasReservesMember2022-01-012022-03-310001866175crgy:DerivativeContractPeriodThreeMembersrt:MinimumMembercrgy:CollarMembersrt:NaturalGasReservesMember2022-03-310001866175crgy:DerivativeContractPeriodThreeMembersrt:MaximumMembercrgy:CollarMembersrt:NaturalGasReservesMember2022-03-310001866175crgy:DerivativeContractPeriodThreeMembercrgy:CollarMembersrt:NaturalGasReservesMember2022-03-310001866175crgy:CurrentDerivativeAssetsMember2022-03-310001866175crgy:NonCurrentDerivativeAssetsMember2022-03-310001866175crgy:CurrentDerivativeLiabilitiesMember2022-03-310001866175crgy:NoncurrentDerivativeLiabilitiesMember2022-03-310001866175crgy:CurrentDerivativeAssetsMember2021-12-310001866175crgy:NonCurrentDerivativeAssetsMember2021-12-310001866175crgy:CurrentDerivativeLiabilitiesMember2021-12-310001866175crgy:NoncurrentDerivativeLiabilitiesMember2021-12-310001866175us-gaap:EnergyRelatedDerivativeMembersrt:OilReservesMemberus-gaap:NondesignatedMember2022-01-012022-03-310001866175us-gaap:EnergyRelatedDerivativeMembersrt:OilReservesMemberus-gaap:NondesignatedMember2021-01-012021-03-310001866175us-gaap:EnergyRelatedDerivativeMemberus-gaap:NondesignatedMembersrt:NaturalGasReservesMember2022-01-012022-03-310001866175us-gaap:EnergyRelatedDerivativeMemberus-gaap:NondesignatedMembersrt:NaturalGasReservesMember2021-01-012021-03-310001866175us-gaap:EnergyRelatedDerivativeMemberus-gaap:NondesignatedMembersrt:NaturalGasLiquidsReservesMember2022-01-012022-03-310001866175us-gaap:EnergyRelatedDerivativeMemberus-gaap:NondesignatedMembersrt:NaturalGasLiquidsReservesMember2021-01-012021-03-310001866175us-gaap:InterestRateContractMemberus-gaap:NondesignatedMember2022-01-012022-03-310001866175