Crescent Energy Company (NYSE:CRGY) Q2 2023 Results Conference Call August 10, 2023 11:00 AM ET
Company Participants
Emily Newport - IR
David Rockecharlie - CEO and Director
Brandi Kendall - CFO and Director
Todd Falk - Chief Accounting Officer
Ben Conner - EVP of Investments
Clay Rynd - EVP of Investments
Conference Call Participants
Neal Dingmann - Truist Securities
John Abbott - Bank of America
Operator
Greetings, and welcome to Crescent Energy's Second Quarter 2023 Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce Emily Newport, Senior Vice President of Finance and Investor Relations. Thank you. You may begin.
Emily Newport
Good morning and thank you for joining Crescent's second quarter conference call. Our prepared remarks today will come from our CEO, David Rockecharlie; and CFO, Brandi Kendall. Todd Falk, Chief Accounting Officer; and Ben Conner and Clay Rynd, both Executive Vice President, will also be available during the Q&A.
Today's call may contain projections and other forward-looking statements within the meaning of federal securities laws. These statements are subject to risks and uncertainties, including commodity-side volatility, global geopolitical complex, our business strategies and other factors that may cause actual results to differ from those expressed or implied in these statements and our other disclosures.
We have no obligation to update any forward-looking statements after today's call. In addition, today's discussion may include disclosure regarding non-GAAP financial measures. For a reconciliation of historical non-GAAP financial measures to the most directly comparable GAAP measure, please reference our 10-Q and earnings press release available on our website.
With that, I'll turn the call over to David.
David Rockecharlie
Good morning, and thank you for joining us today. Our outstanding second quarter results continue the strong momentum that we've created since entering the public markets. Crescent remains uniquely positioned to navigate the current energy market dynamics, and we're excited to share our recent achievements with you today. Our second quarter results exceeded estimates across key categories due to strong operational performance and efficiencies achieved on our development program. Our successful execution allows us to raise our full year outlook, increasing production and cash flow expectations with significantly less capital investment.
Importantly, we achieved several strategic objectives since our last update, adding to our scale and operated position through the closing of the accretive Western Eagle Ford transaction and improving our capital markets presence through increased float and opportunistic notes offering.