Civitas Resources Is Nearing A Deal To Acquire Oil And Gas Operations In The Permian Basin From PE Firm NGP Energy Capital Management For Close To $5B, Including Debt
Portfolio Pulse from Charles Gross
Civitas Resources is close to acquiring oil and gas operations in the Permian Basin from private equity firm NGP Energy Capital Management for around $5 billion, including debt, according to sources.
June 19, 2023 | 11:49 pm
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Civitas Resources is nearing a deal to acquire oil and gas operations in the Permian Basin from NGP Energy Capital Management for close to $5 billion, including debt.
The acquisition of oil and gas operations in the Permian Basin will expand Civitas Resources' portfolio and potentially increase its revenue. This news is likely to have a positive impact on the company's stock price in the short term as investors may view the acquisition as a growth opportunity.
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