Civitas resources closes acquisition of vencer energy

Denver--(business wire)--civitas resources, inc. (nyse: civi) (“civitas”) today announced the closing of its previously announced acquisition (the “acquisition”) of certain oil and gas assets in the midland basin in texas from vencer energy, llc (“vencer”), a vitol investment. under the terms of the agreement, civitas issued vencer 7,181,527 shares of common stock and $1 billion of cash. a $550 million deferred cash payment is due to vencer on january 3, 2025. civitas currently plans to use cas.
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