Civitas Resources Enters Permian Basin Through Transformative Transactions For Total Consideration Of $4.7B
Portfolio Pulse from Benzinga Newsdesk
Civitas Resources has signed agreements to acquire oil producing assets in the Midland and Delaware Basins of west Texas and New Mexico from affiliates of Hibernia Energy III and Tap Rock Resources for a total consideration of $4.7 billion.
June 20, 2023 | 10:24 am
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Civitas Resources' acquisition of oil producing assets in the Midland and Delaware Basins for $4.7 billion could potentially boost its production and revenue.
Civitas Resources' acquisition of oil producing assets in the Midland and Delaware Basins for $4.7 billion directly expands its asset base and production capabilities. This could lead to increased production and revenue, positively impacting its stock price in the short term.
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