A Stronger Civitas

Civitas Resources enters heart of Permian Basin through two separate agreements that will fundamentally transform Civitas into a stronger, more balanced company with a deep inventory of high-return drilling opportunities in the three lowest breakeven oil basins in the U.S.

Civitas agreed to acquire a portion of Tap Rock’s Delaware Basin assets and Hibernia Resources’ Midland Basin assets for a total of $4.7 billion.

Highlights

  1. Immediate scale in the Permian with 68,000 net acres in some of the best areas of the Delaware and Midland Basins.
  2. Increases inventory to nearly a decade, adding 800 high-quality gross locations.
  3. Attractively priced and immediately accretive to key financial metrics.
  4. Creates balanced portfolio and maximizes capital allocation across three leading domestic basins.
  5. Increases shareholder returns, maintains long-term balance sheet strength.


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