One-Page Deal Sheet
Civitas Resources Enters Permian/ Midland & Delaware Basin For $4.7 Billion
Civitas Resources Inc. Tap Rock Operating LLC
Announced Date
June 20,2023
Effective Date
July 01,2023
Close Date
August 02,2023
Transaction Type
Asset
Enterprise Value (EV)($MM)
2450
Asset/Basin:
["Delaware Basin"]
TargetZones:
[]
Net Acres
% Oil:
Proved Reserves
EbitDAX : Ebitdax_multple
Location
Calculated Metrics( EV/Category)
Region
Permian - Delaware Basin
Country
United States
State
New Mexico
County
Eddy ,Lea
Play
Production & Reserves Production
Production Mix
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Require Private Equity Subscription
Civitas Resources said it is acquring Tap Rock ( Tap Rock’s Delaware Basin assets for $2.45 billion,which includes $1.5 billion in cash and approximately 13.5 million shares of Civitas common stock valued at approximately $950 million,and Hibernia’s Midland Basin assets for $2.25 billion in cash.
Transaction Highlights
Permian Basin entry with immediate scale: The combined transactions will add approximately 68,000 net acres (90% held-by-production) in the Midland and Delaware basins and will add combined proved reserves of approximately 335 MMBoe, as of year-end 2022. The transactions…Permian - Delaware Basin Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Mar-10-2026 |
-  |
- |
Click here | Texas | E&P |
| Sep-02-2025 |
- |
- |
Click here | Texas | E&P |
| May-07-2025 |
- |
- |
Click here | New Mexico | E&P |
| May-03-2025 |
- |
- |
Click here | New Mexico | E&P |
| Nov-13-2024 |
- |
- |
Click here | New Mexico | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Feb-02-2026 | Devon Acquires Coterra Energy; Bulk Up on Permian, Adds Gas Bank | - |
- |
| Nov-03-2025 | SM Energy, Civitas Strike $12.8B All-Stock Merger | - |
- |
| Sep-02-2025 | Crescent Energy Acquires Vital | - |
- |