Crescent advances $900 million non-core divestiture program with DJ basin sale

(WO) - Crescent Energy has continued to streamline its portfolio with the sale of its non-operated DJ Basin assets for $90 million in cash, marking another step forward in the company’s ongoing non-core divestiture program. 

The assets—located largely in Weld County, Colorado—produce roughly 7,000 boed, with oil comprising about 20% of volumes. The transaction, completed with a private buyer, is subject to customary post-closing adjustments.

The sale pushes Crescent’s year-to-date divestiture tally to more than $900 million, following previously announced sales across the Rockies and the Barnett shale. Crescent expects all remaining transactions under the program to close before year-end.

Proceeds from the divestitures will be directed toward reducing borrowings under the company’s revolving credit facility, a move aimed at strengthening the balance sheet and improving financial flexibility.

“This marks our sixth accretive asset sale year to date,” said Crescent CEO David Rockecharlie. “Our successful non-core divestiture program enhances our business and underscores our ability to navigate a volatile market and capture attractive value for our investors.”