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Civitas Announces Dj Basin Acquisition And Concurrent Ceo Transition

PRIVATEFeb 01, 2022

Acquiring Company

Civitas Resources

Acquired Company

Haynesville Shale

DenverEnergySustainabilityNatural Resources

Description

Civitas Resources, Inc. (NYSE: CIVI) (“Civitas” or the “Company”), a Colorado energy leader and the state’s first carbon neutral oil & gas producer, today announced that it has signed definitive agreements to acquire privately held Denver-Julesburg Basin (“DJ Basin”) operator Bison Oil & Gas II, LLC (“Bison”) for approximately $346 million of consideration, consisting of 2.3 million CIVI shares, $45 million in cash and the assumption of approximately $176 million in debt and other liabilities (the “Transaction”). The Transaction is expected to close in the first quarter of 2022 and demonstrates Civitas’ disciplined approach to consolidation with a focus on value creation and accretion.

Quick answer

Civitas Resources is acquiring Haynesville Shale, announced February 1, 2022. Civitas Resources is based in Denver, Colorado, United States.

How much did Civitas Resources pay for Haynesville Shale?
The deal value was not disclosed.
What does Civitas Resources do?
Civitas Resources, Inc. is a Delaware corporation operating in the energy sector, primarily focused on the exploration and production of oil and natural gas.
Where are Civitas Resources and Haynesville Shale based?
Civitas Resources is based in Denver, Colorado, United States.

Source: Fundz verified event record.

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Company Information

Company

Civitas Resources

Location

Denver, Colorado, United States

About

Civitas Resources, Inc. is a Delaware corporation operating in the energy sector, primarily focused on the exploration and production of oil and natural gas. The company engages in activities related to drilling, extraction, and resource management, catering to markets predominantly in the United States. Civitas recently entered into a merger agreement with SM Energy Company, signaling a strategic focus on expanding its operational capacity and market presence. The merger is significant as it indicates Civitas' aim to enhance its resource portfolio and increase shareholder value. The company continues to prioritize innovation and efficiency in its operations to remain competitive in the evolving energy landscape.

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Frequently asked

Who acquired Haynesville Shale?

Haynesville Shale was acquired by Civitas Resources, based in Denver. The deal was reported on February 1, 2022. Civitas Resources, Inc. is a Delaware corporation operating in the energy sector, primarily focused on the exploration and production of oil and natural gas. Civitas Resources is privately held and operates in Energy.

When did Civitas Resources acquire Haynesville Shale?

Civitas Resources's acquisition of Haynesville Shale was reported on February 1, 2022. Civitas Resources, Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does Haynesville Shale do?

Haynesville Shale is the company acquired in this transaction. It is privately held.

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