Hedging | Capital Markets | Capital Expenditure | Capital Expenditure - 2022
Civitas Ups 2022 on Heels of Bison Acquisition; ~$960MM Capex
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Civitas Resources has detailed its 2022 capital plan as well as its updated hedges after announcing its agreement to acquire Bison Oil & Gas II.
Preliminary 2022 Pro Forma Outlook
The Company announced preliminary key metrics associated with its 2022 budget, including impacts of the Transaction. Civitas standalone is on track to increase its 2022E margins given an oilier production base relative to 2021, margins which are further enhanced by the Transaction.
Highlights include:
Pro Forma Hedge Positions
The following table is a summary of Civitas’ hedge positions as of January 1, 2022, inclusive of 10 months of contribution from the Transaction for 2022, starting March 1.
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