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Civitas Closes Bison Acquisition

PRIVATEMar 01, 2022

Acquiring Company

Civitas Resources

Acquired Company

Skeena Resources

DenverVancouverEnergySustainabilityNatural ResourcesSports

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 closed its previously announced acquisition of privately held Denver-Julesburg Basin (“DJ Basin”) operator Bison Oil & Gas II, LLC (“Bison”). Consideration for the Bison acquisition was modified to reflect an all-cash transaction (no Civitas shares issued), with a total cash outlay by the Company of approximately $300 million, which was funded with cash on hand. The transaction demonstrates Civitas’ disciplined approach to consolidation with a focus on value creation and accretion.

Quick answer

Civitas Resources is acquiring Skeena Resources, announced March 1, 2022. Civitas Resources is based in Denver, Colorado, United States.

How much did Civitas Resources pay for Skeena Resources?
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 Skeena Resources based?
Civitas Resources is based in Denver, Colorado, United States. Skeena Resources is based in Vancouver, Washington, 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 Skeena Resources?

Skeena Resources was acquired by Civitas Resources, based in Denver. The deal was reported on March 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 Skeena Resources?

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

What does Skeena Resources do?

Skeena Resources Limited is a Canadian mining exploration and development company focused on revitalizing the past-producing Eskay Creek gold-silver mine located in Tahltan Territory in the Golden Triangle of northwest British Columbia, Canada. It is privately held, operating in Sports, and is based in Vancouver.

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