Civitas Resources Inc. , today announced that it has given notice of its intent to redeem in full the $100 million in aggregate principal amount of its currently outstanding 7.50% senior notes due 2026 on May 1, 2022 . The redemption price of the Notes will be 100% of the principal amount of the Notes redeemed, plus accrued and unpaid interest to the Redemption Date. The Company has instructed the Trustee to send a notice [...]
Civitas Resources Inc. today announced a pledge of $10 million in humanitarian aid to Ukrainians and refugees impacted by the Russian invasion of Ukraine. Ben Dell, Civitas Chairman and Interim Chief Executive Officer, commented, "The tragic events still unfolding in Ukraine have created unimaginable suffering for millions of people, and our hearts go out to those whose lives have been upended by violence. As Civitas is [...]
Civitas Resources Inc. today announced its fourth quarter and full-year 2021 financial results, and has posted an updated investor presentation to its website. Operational Highlights for the Fourth Quarter 2021 Assuming a full quarter of contribution from the merged Civitas companies: Average daily sales volumes were 153.5 thousand barrels of oil equivalent per day , with oil representing 40% of total volumes, relative to [...]
Civitas Resources Inc. , 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 operator Bison Oil & Gas II, LLC . Consideration for the Bison acquisition was modified to reflect an all-cash transaction , with a total cash outlay by the Company of approximately $300 million, which was [...]
Civitas Resources Inc. is now scheduled to release its fourth quarter 2021 operating and financial results after market close on Tuesday, March 8, 2022. The Company will host a conference call to discuss these results the following morning, Wednesday, March 9, at 8:00 a.m. Mountain Time . A live webcast of this event will be available on the Investor Relations section of the Company's website at www.civitasresources.com [...]
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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