Crescent to Sell Rockies Assets to Aethel for $400 Million

Crescent Energy Co., a Texas oil producer backed by KKR & Co., agreed to sell its drilling portfolio in the US Rocky Mountain region to Aethel Energy, according to people familiar with the matter.

Aethel, which is backed by venture-capital firm General Catalyst, is buying Crescent’s conventional oil and gas assets in Wyoming, said one of the people, who asked to not be identified because the details aren’t public. The purchase price is more than $400 million, another person said.