11:43 AM EDT, 07/30/2024 (MT Newswires) -- Crescent Energy ( CRGY ) said Tuesday it has completed the acquisition of SilverBow Resources ahead of schedule for $358 million in cash consideration and about 52 million Class A shares.

Crescent said about $35 million of the previously announced annual synergies of $65 million to $100 million from the transaction has been achieved.

As of completion, SilverBow shareholders own nearly 23% of the combined company, Crescent added.

Crescent said it will provide a proforma H2 outlook reflecting the transaction and issue its Q2 results after market close on Monday.