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Civitas Resources Inc - CIVI STOCK NEWS

Welcome to our dedicated page for Civitas Resources news (Ticker: CIVI), a resource for investors and traders seeking the latest updates and insights on Civitas Resources stock.

Civitas Resources, Inc. (symbol: CIVI) is an independent exploration and production company headquartered in Colorado. As the largest pure-play oil and natural gas producer in the state, Civitas focuses on the acquisition, development, and production of oil and liquids-rich natural gas, primarily within the Denver-Julesburg Basin (DJ Basin) of the Rocky Mountain region. The company's operations emphasize the development of the horizontal Niobrara and Codell formations, known for their low-cost structure and mature infrastructure.

Civitas Resources brings together decades of operational expertise and a robust commitment to sustainability and community values. The company prioritizes long-term sustainability and aims to deliver value not only to the energy industry but also to Colorado's economy and its communities. By leveraging a strategic and collaborative vision, Civitas ensures that the benefits of Colorado’s oil and natural gas industry extend well into the future.

Civitas Resources is recognized for its operational efficiencies, production innovation, and a premier management team dedicated to optimizing both current projects and future drilling opportunities. The company benefits from established reserves and multiple producing horizons, supported by a range of service providers and prospective drilling opportunities that enhance its production capabilities.

Recent achievements of Civitas include aggressive sustainability practices and significant operational milestones that reinforce its leading position in the industry. The company continues to innovate and focus on enhancements that support its goal of being a major contributor to the regional and national energy landscape.

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Civitas Resources, Inc. reports strong financial results for Q4 2023 and full-year 2023, with net income of $303 million, free cash flow of $215 million, and $1.45 per share dividend. The company maintained its 2024 production guidance and reduced capital expenditures by $150 million. The 2024 outlook focuses on maximizing free cash flow and returning cash to shareholders.
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Civitas Resources, Inc. (NYSE: CIVI) has announced plans to release its fourth quarter 2023 operating and financial results and its 2024 outlook. The company will hold a conference call and webcast to discuss the results and outlook. The call is scheduled for February 28, 2024, and a live webcast and replay will be available on the company's website.
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Civitas Resources, Inc. (NYSE: CIVI) has appointed Brad Whitmarsh as Vice President, Investor Relations. With over 20 years of leadership experience in the oil and gas industry, Mr. Whitmarsh will be the primary liaison between the company and the investment community. His previous roles include Vice President, Investor Relations for Denbury Inc. and Vice President of Investor Relations for Noble Energy Inc.
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Civitas Resources, Inc. (NYSE: CIVI) announced the acquisition of certain oil and gas assets in the Midland basin in Texas from Vencer Energy, LLC. The agreement involved issuing Vencer 7,181,527 shares of common stock and $1 billion of cash, with a $550 million deferred cash payment due in 2025. Civitas plans to use cash on hand and/or borrowings to fund the deferred payment. Civitas President & CEO, Chris Doyle, highlighted the company's strong balance sheet and low-cost structure, positioning them to deliver the industry's best shareholder cash return program over the long term.
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Civitas Resources, Inc. (NYSE: CIVI) Announces Q3 2023 Results, Fixed-plus-Variable Dividend, and Key Leadership Additions
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Civitas Resources, Inc. announces plans to release third quarter 2023 results
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Civitas Resources, Inc. announces private placement to fund pending acquisition.
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Civitas Resources' CEO announces successful debt offering to finance Vencer acquisition and expects $300 million in non-core asset sales.
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Civitas Resources, Inc. plans to offer $1,000 million in senior unsecured notes due 2030 to fund an acquisition of oil and gas properties.
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Civitas Resources signs agreement to acquire oil producing assets in the Midland Basin for $2.1 billion, expected to close in January 2024. The acquisition is attractively priced and immediately accretive to Free Cash Flow per share, with an estimated 5% uplift in 2024. It increases Permian Basin scale and adds premium, low breakeven oil inventory. Civitas expects to generate approximately $1.8 billion of Free Cash Flow in 2024. The acquisition strengthens the capital structure and maintains the shareholder return program. Civitas plans to fund the cash portion of the purchase price with a combination of debt and equity financings. The portfolio will be balanced between the Permian and DJ basins, reducing operational risk. Positive outlook for 2024 with the ability to flex capital investments and activity levels between assets.
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FAQ

What is the current stock price of Civitas Resources (CIVI)?

The current stock price of Civitas Resources (CIVI) is $49.3 as of February 24, 2025.

What is the market cap of Civitas Resources (CIVI)?

The market cap of Civitas Resources (CIVI) is approximately 4.7B.

What is Civitas Resources, Inc.?

Civitas Resources, Inc. is an independent exploration and production company focused on oil and natural gas in Colorado's DJ Basin.

What are the core operations of Civitas Resources?

Civitas Resources primarily engages in the acquisition, development, and production of oil and liquids-rich natural gas, focusing on the DJ Basin's Niobrara and Codell formations.

Where is Civitas Resources located?

Civitas Resources is headquartered in Colorado, USA.

What makes Civitas Resources a leader in the energy sector?

Civitas stands out due to its operational efficiency, strategic innovation, and strong sustainability practices, combined with a top-tier management team.

What sustainability practices does Civitas Resources follow?

Civitas implements aggressive sustainability practices aimed at ensuring long-term environmental and community benefits, integrating these practices into their operational strategies.

How does Civitas Resources contribute to Colorado's economy?

Civitas bolsters Colorado's economy through significant oil and natural gas production, creating jobs, and supporting local businesses and communities.

What formations does Civitas Resources develop in the DJ Basin?

Civitas focuses on developing the horizontal Niobrara and Codell formations in the DJ Basin, known for their cost-effectiveness and production efficiency.

What recent achievements has Civitas Resources accomplished?

Recent achievements include major operational milestones and the implementation of advanced sustainability practices, reinforcing its role as a leading producer in the industry.

What are the future plans of Civitas Resources?

Civitas aims to continue its innovative approach, focusing on sustainable growth and expanding its drilling opportunities in the DJ Basin.

How does Civitas ensure community benefits from its operations?

Civitas maintains a strategic and collaborative vision intended to deliver long-term benefits to Colorado's communities alongside its energy production activities.
Civitas Resources Inc

NYSE:CIVI

CIVI Rankings

CIVI Stock Data

4.75B
95.76M
0.76%
97.21%
6.2%
Oil & Gas E&P
Crude Petroleum & Natural Gas
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United States
DENVER