CHARLOTTE, N.C., Jan. 29, 2013 /PRNewswire/ -- Crescent Resources, LLC (the "Company") announced today that the Company and Crescent Ventures, Inc., a wholly owned subsidiary of the Company (together, the "Issuers"), have commenced a solicitation of consents (the "Consent Solicitation") to amend (the "Proposed Amendments") the indenture governing the Issuers' 10.250% Senior Secured Notes due 2017 (the "Notes"). The Consent Solicitation is being made in accordance with the terms and subject to the conditions stated in a Consent Solicitation Statement dated January 29, 2013 (the "Consent Solicitation Statement"), to holders of record at 5:00 p.m., New York City time, on January 28, 2013. The Consent Solicitation is scheduled to expire at 5:00 p.m., New York City time, on February 5, 2013, unless extended or earlier terminated (the "Expiration Time"). Holders of the Notes who deliver valid consents to the Proposed Amendments by the Expiration Time (and do not revoke such consents) in the manner described in the Consent Solicitation Statement will be eligible to receive a consent fee equal to $2.50 per $1,000 principal amount of Notes for which consents have been delivered (and not revoked). Holders providing consents after the Expiration Time will not receive a consent fee. The consent fee will be paid as promptly as practicable after the Expiration Time and the satisfaction or waiver of the applicable solicitation conditions. The Consent Solicitation is subject to a number of conditions that are set forth in the Consent Solicitation Statement, including, without limitation, the receipt of the consent of the holders of at least a majority in aggregate principal amount of outstanding Notes and the execution and effectiveness of a supplemental indenture effecting the Proposed Amendments. Consents may not be revoked on or after the date the supplemental indenture becomes effective (which may occur prior to the Expiration Time if the requisite consent is received before then). If the supplemental indenture effecting the Proposed Amendments become operative, the Proposed Amendments will be binding upon all holders of Notes, whether or not such holders have delivered consents. A more comprehensive description of the Consent Solicitation can be found in the Consent Solicitation Statement.