Crescent Energy Company has announced a definitive agreement to acquire Vital Energy, Inc. in an all-stock transaction valued at approximately $3.1 billion, positioning Crescent as a top 10 independent player in the industry.

Vital Energy Inc. is facing significant financial challenges due to market fluctuations, but remains committed to its mission and strategic focus on the Permian Basin.

Vital Energy Inc. reported a mixed bag of first-quarter 2025 results, beating earnings forecasts but falling short on revenue, leaving investors with concerns about the company’s business model and growth prospects.