Denver’s Civitas Resources strikes $4.7B deal to move into Permian
Denver-based oil and gas company Civitas Resources has struck two deals totaling nearly $5 billion to move into the Permian Basin, the country’s leading shale-oil play.
Civitas said Tuesday that it has signed agreements for a total of $4.7 billion with affiliates of Hibernia Energy and Tap Rock Resources, companies managed by the private equity firm NGP Energy Capital Management. Civitas called the deal transformative, giving it “a stronger, more balanced and sustainable enterprise.”
Civitas, which currently operates only…