Alyeska Boosts Crescent Energy Company (CRGY) Stake to 0.62% Following Vital Energy Deal

Crescent Energy Company (NYSE:CRGY) is among the best stocks with the highest upside potential. During the first quarter, Alyeska Investment Group L.P. lifted its stake in Crescent Energy Company (NYSE:CRGY) by 452.3%. With the purchase of 1,298,155 shares, the firm owns 0.62% of the company, translating to an investment worth $17,817,000.

The debt-free acquisition of Vital Energy is an interesting step, as the resulting business will become a new player among the top ten independent companies in its market. According to some estimates, the net output from the enterprise could be as high as 397 Mboe per day, with 258 Mboe per day contribution from Crescent Energy Company (NYSE:CRGY). While targeting three critical regions: Permian Basin, Eagle Ford Basin, and Uinta Basin, the venture will offer investors a chance to capitalize on stable production and thus provide financial solidity.

But that’s not it. Apart from immediate cost savings of between $90 million and $100 million, management expects long-term synergies of  $150 million to $215 million on an annual run-rate basis. This collaboration is a testament to the bright future of Crescent Energy Company (NYSE:CRGY).

Crescent Energy Company (NYSE:CRGY) is a Texas-based energy company that explores and produces crude oil, natural gas, and natural gas liquids. Founded in 2011, the company is dedicated to investing in energy assets.

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