All articles tagged with #civitas resources
SM Energy and Civitas Resources are merging in an all-stock deal to form a $13 billion oil and gas company focused on the Permian Basin, making it one of the top 10 independent US oil producers, with the deal expected to close in early 2026.
Civitas Resources has signed two deals worth nearly $5 billion with affiliates of Hibernia Energy and Tap Rock Resources to expand its operations into the Permian Basin, the country's leading shale-oil play. The acquisition will boost Civitas' production by 60% and provide nearly a decade of high-return drilling inventory. The deals are expected to close in the third quarter and will be financed by unsecured senior debt, common stock, borrowings, and cash-on-hand. The acquisition was criticized by a Canadian organization for pension funds and climate change, noting that Civitas' plan to increase production runs counter to achieving net-zero greenhouse-gas emissions by 2050.
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.