Question 1

What is Crescent Energy's exploration expense?

Accepted Answer

Crescent Energy (CRGY) reported exploration expense of $6.52M in Q1 2026.

Question 2

How has Crescent Energy's exploration expense changed year-over-year?

Accepted Answer

Crescent Energy's exploration expense increased by 2030.4% year-over-year, from $306K to $6.52M.

Question 3

What is the long-term trend for Crescent Energy's exploration expense?

Accepted Answer

Over 3 years (2021 to 2025), Crescent Energy's exploration expense has grown at a 142.3% compound annual growth rate (CAGR), from $1.18M to $16.8M.

Question 4

What does exploration expense mean?

Accepted Answer

Captures the costs associated with geological and geophysical studies, exploratory drilling, and other activities aimed at identifying new hydrocarbon reserves. This expense is a key indicator of a company's commitment to organic growth and long-term reserve replacement. High exploration spending reflects an aggressive growth strategy, whereas lower spending may indicate a focus on harvesting existing assets.

Line item	Three Months Ended March 31, 2026	Three Months Ended March 31, 2025
Production and other taxes	55,699	60,381
Depreciation, depletion and amortization	354,125	282,573
Impairment of oil and natural gas properties	—	45,647
Exploration expense	6,519	306
Midstream and other operating expense	6,746	29,816
General and administrative expense	62,800	56,770
(Gain) loss on sale of assets	2,878	(10,862)
Total expenses	855,338	777,945

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Crescent Energy CRGY Exploration Expense