Civitas Resources Inc

CIVI

Equity

ISIN null / Valor 114354404

New York Stock Exchange, Inc (2025-11-19)

USD 28.42-1.04%

Civitas Resources Inc
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About company

Civitas Resources Inc is an independent oil and natural gas producer concentrating its operations in the Denver-Julesburg (DJ) and Permian basins. The company utilizes a disciplined capital approach and maintains a robust balance sheet to ensure sustainable cash flow and deliver consistent returns to shareholders. By focusing on high-quality assets and leveraging financial flexibility, Civitas Resources effectively positions itself within the North American exploration and production sector, aiming to achieve operational efficiency and growth in its targeted regions.

Summarized from source with an LLMView SourceSector: Energy

Return of Capital to Shareholders

In Q3 2024, Civitas returned $227 million to shareholders through $149 million in dividends and $78 million in share repurchases. The company allocated the entire third quarter variable return of capital to share buybacks, reinforcing its commitment to shareholder value.

Debt Reduction and Financial Liquidity

The company reduced total debt by $88 million and maintained strong financial liquidity, ending the quarter with over $1.4 billion in cash and available borrowing capacity. This strategic debt reduction supports future growth and financial stability.

Increased Production and Cost Efficiency

Civitas achieved a 3% increase in oil volumes sequentially, with oil production averaging 165 MBbl/d in October 2024. Additionally, the company reduced average well costs in the Midland Basin by 13%, decreasing to $740 per lateral foot, enhancing overall operational efficiency.

Operational Milestones

The company commenced production on 16 Wolfcamp D wells in the Midland Basin, exceeding productivity expectations and strengthening the economic competitiveness of its acreage. Furthermore, four-mile laterals in the DJ Basin are performing above expectations, including the Blue 4AH well with a state-record 165,000 barrels of oil in 90 days.

Strategic Land Acquisitions

Year-to-date, Civitas added over 75 gross locations in the Delaware and Midland Basins through strategic transactions. These acquisitions, along with land trades and acreage swaps, have significantly extended lateral footage on near-term core developments in the Permian Basin.

Regulatory Approvals

Civitas received approval from Colorado’s Energy and Carbon Management Commission for the Lowry Ranch Comprehensive Area Plan within the Watkins development area of the DJ Basin, facilitating continued growth and development in key operational regions.

Summarized from source with an LLMView Source

Key figures

-44.2%1Y

-57.4%3Y

18.4%5Y

Performance

65.5%1Y

48.4%3Y

53.0%5Y

Volatility