Crescent Energy Plans $27M Houston Office Buildout

Crescent Energy is putting down deeper roots in downtown Houston, lining up a multimillion-dollar office buildout in one of the city’s most prominent skyscrapers.

The Houston-based oil and gas company filed plans with the Texas Department of Licensing and Regulation to build out roughly 75,000 square feet across three floors at 609 Main at Texas, a Hines-developed 48-story tower at 609 Main Street in Houston’s Central Business District. The Houston Business Journal reported that the projects — spanning floors 12-14 — carry an estimated cost of $26.9 million and are slated to begin in August, wrapping up early next year.

The scope includes new partitions, ceilings and interior finishes, signaling a full-scale customization of the space. New York-based M Moser Associates is listed as the design firm on the filings, which are preliminary and subject to change, according to the filing.

The buildout follows Crescent’s recent lease for 125,000 square feet in the tower, one of the largest office deals signed in Houston during the first quarter, according to JLL. The company has not disclosed how it plans to use the remaining portion of the leased space beyond the initial buildout.

Crescent is currently headquartered in JPMorgan Chase Tower, Houston’s tallest building, and the move to 609 Main suggests a significant shift in its office strategy as it scales operations, according to the publication.

The expansion comes amid a period of aggressive growth for the company. According to the outlet, over the past two years, Crescent has bulked up through acquisitions aimed at cementing its position among the top independent upstream energy producers.

In 2024, the firm acquired SilverBow Resources in a $2.1 billion deal, followed by a $3.1 billion all-stock purchase of Tulsa-based Vital Energy. Those transactions were expected to generate revenue growth and expand Crescent’s presence in key production regions, including the Eagle Ford. The company also added senior leadership, including naming its first chief operating officer last year, according to the outlet.

The office investment highlights a broader trend in Houston’s energy corridor, according to the publication, where expanding firms are still committing to high-end office space, despite a hybrid work environment that has weighed on leasing in other sectors.

— Eric Weilbacher