Add-on Acquisition • Energy Services and Equipment

Crescent Acquires Vital Energy

On August 25, 2025, Crescent acquired energy services and equipment company Vital Energy for 3.1B USD

Acquisition Context
  • This is Crescent’s 1st transaction in the Energy Services and Equipment sector.
  • This is Crescent’s largest (disclosed) transaction.
  • This is Crescent’s 3rd transaction in the United States.
  • This is Crescent’s 1st transaction in Oklahoma.

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M&A Deal Summary

Date August 25, 2025
Target Vital Energy
Sector Energy Services and Equipment
Buyer(s) Crescent
Deal Type Add-on Acquisition
Deal Value 3.1B USD
Advisor(s) Houlihan Lokey
J.P. Morgan Securities
Lazard (Financial)
Vinson & Elkins (Legal)

Target Company

Vital Energy

Tulsa, Oklahoma, United States
Vital Energy is an independent energy company focused on the acquisition, exploration, and development of oil and natural gas properties. Vital Energy was founded in 2006 and is based in Tulsa, Oklahoma.
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Buyer Overview 1

Buyer

Crescent

Houston, Texas, United States

Category Company
Sector Energy Services and Equipment
Employees987
Revenue 2.9B USD (2024)
DESCRIPTION

Crescent is a differentiated U.S. energy company committed to delivering value for shareholders through disciplined growth through acquisition strategy and consistent return of capital. The company's portfolio of low-decline, cash-flow-oriented assets comprises both mid-cycle unconventional and conventional assets with a long reserve life and a deep inventory of high-return development locations in the Eagle Ford and Uinta basins. Crescent was founded in 2011 and is based in Houston, Texas.


Deal Context for Buyer #
Overall 3 of 3
Sector: Energy Services and Equipment 1 of 1
Type: Add-on Acquisition 1 of 1
State: Oklahoma 1 of 1
Country: United States 3 of 3
Year: 2025 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-16 SilverBow

Houston, Texas, United States

SilverBow is an oil and gas company that engages in developing, exploring, acquiring, and operating oil and gas properties with a focus on onshore and inland waters oil and natural gas reserves in Louisiana and Texas, as well as oil and natural gas reserves in New Zealand. SilverBow was founded in 1979 and is based in Houston, Texas.

Buy $2.1B