Civitas Resources Inc. , 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 operator Bison Oil & Gas II, LLC 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 [...]
Civitas Resources Inc. today announced its commitment to voluntarily plug 42 wells that were orphaned by previous operators located in and around its operating areas in Adams, Arapahoe, Elbert, Larimer, and Weld counties of Colorado. "Orphaned" wells are wells unrelated to Civitas that were abandoned by their former operators and whose cleanup would otherwise be the responsibility of the state of Colorado. Project Canary [...]
Civitas Resources Inc. today announced a pledge of $1 million to the Community Foundation Boulder County to aid in relief efforts following Wednesday's Marshall Wildfire, the most destructive wildfire disaster in Colorado history. "As community members, neighbors and Coloradans, we are saddened by the devastation these wildfires have caused, and we must do what we can to help these impacted communities," said Civitas CEO [...]
Civitas Resources Inc. today announced an updated stockholder cash distribution strategy and provided fourth quarter 2021 guidance. Eric Greager, President and CEO of Civitas, commented, "Our resource quality, low-cost structure, and low financial leverage allows us to generate significant free cash flow. We have committed to returning a substantial amount of this cash to stockholders, and today we are announcing a step [...]
Bonanza Creek Energy Inc. and Extraction Oil & Gas Inc. today announced the closing of their merger and subsequent acquisition of Crestone Peak Resources. The transactions were overwhelmingly approved, with over 99.9% of the votes cast by Bonanza Creek stockholders and over 99.9% of the votes cast by Extraction stockholders voting in favor. The combined company has now formally been rebranded Civitas Resources Inc. and [...]
Civitas Resources Inc. that will be formed upon closing of the recently-announced merger of Bonanza Creek Energy Inc. and Extraction Oil & Gas Inc., today announced that it has materially advanced its consolidation strategy in the Denver-Julesburg Basin by entering into a definitive agreement to acquire Crestone Peak Resources, another leading energy producer in the region. Civitas is expected to have an enterprise value [...]
Bonanza Creek Energy Inc. and Extraction Oil & Gas Inc., today announced that they have entered into a definitive agreement to combine in an all-stock merger of equals. The combined company, to be named Civitas Resources, will be the largest pure-play energy producer in Colorado's Denver-Julesburg Basin, with an aggregate enterprise value of approximately $2.6 billion. TRANSACTION HIGHLIGHTS The merger will create a [...]
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