Crescent Energy Co., Houston, has appointed J.D. (Joey) Hall as chief operating officer, effective June 2, 2025.
Hall most recently served as executive vice-president of operations at Pioneer Natural Resources Co., where he was also a member of the executive committee. During his multi-decade career at Pioneer, Hall held leadership roles overseeing development and operational strategy in multiple regions, including the Eagle Ford and Permian basin.
First-quarter 2025, full-year guidance
Earlier this month, Crescent Energy reported first-quarter 2025 earnings and production.
For the quarter, production averaged a 258,000 boe/d (about 40% oil). The company drilled 41 gross operated wells (36 Eagle Ford, 5 Uinta), brought online 40 gross operated wells (36 Eagle Ford, 4 Uinta), and incurred capital expenditures (excluding acquisitions) of $208 million.
Crescent reported $6 million in net income and $143 million of adjusted net income.
On January 31, the company closed its $905-million upfront deal to acquire central Eagle Ford assets from Ridgemar Energy (OGJ Online, Dec. 4, 2024).
As of May 5, the company has sold about $90 million of non-core assets. On April 22, it closed on the sale of non-operated Permian basin assets to a private buyer for $83 million in cash (OGJ Online, Apr. 22, 2025). The company is targeting $250 million in non-core asset divestitures.
To reflect its 2025 divestitures closed as of May 5, Crescent updated its full-year 2025 outlook. It reaffirmed plans to operate a flexible 4 - 5 rig program, allocating capital across its oil and gas assets. Prior 2025 production guidance was 254,000-264,000 boe/d. Newly adjusted guidance is 251,000-261,000 boe/d.