Civitas Resources to Expand into Permian with $5 Billion Deal.

Civitas Resources is close to acquiring oil and gas operations in the Permian basin from NGP Energy Capital Management for nearly $5 billion, including debt. The deal would expand Civitas' operations beyond Colorado's Denver-Julesburg basin into the lucrative Permian basin in Texas and New Mexico. Civitas plans to fund the deal using a mixture of cash and newly-issued shares. If negotiations conclude successfully, an agreement could be announced as early as Tuesday.