Overview

• Vital shareholders will receive 1.9062 Crescent shares per Vital share, reflecting a roughly 15% premium to Vital’s 30‑day average price as of Aug. 22.
• Crescent shareholders are expected to own about 77% of the combined company, with closing targeted by the end of 2025 subject to approvals.
• The combined operator would rank among the largest independent U.S. producers with assets spanning the Eagle Ford, Permian and Uinta basins.
• Management projects $90 million to $100 million in annual savings and plans $1 billion of non‑core asset sales, with a continued focus on free cash flow.
• Shares moved on the news, with Vital up roughly 11%–15% and Crescent down about 6% in Monday trading.