Overview
- Vital shareholders will receive 1.9062 Crescent shares per Vital share, a roughly 15% premium to Vital’s 30‑day average as of Aug. 22.
- Crescent shareholders are expected to own about 77% of the combined company, with John Goff remaining chair, David Rockecharlie staying CEO, and the board expanding to 12 including two Vital directors.
- Management projects $90–$100 million in annual savings and plans about $1 billion of non-core divestitures while maintaining a free‑cash‑flow and shareholder‑returns focus.
- The combination would rank among the 10 largest independent U.S. oil and gas producers with operations across the Eagle Ford, Permian and Uinta basins, and the headquarters will remain in Houston.
- On the announcement, Vital shares rose roughly 11–15% as Crescent fell about 6%, and the companies guided to a closing by the end of 2025 subject to shareholder and regulatory approvals.