One-Page Deal Sheet
Civitas acquires Vitol's Vencer Energy For $2.1 Billion; Add-On Permian
Civitas Resources Inc. Vencer Energy
Announced Date
October 04,2023
Effective Date
January 01,2024
Close Date
January 02,2024
Transaction Type
Asset
Enterprise Value (EV)($MM)
2100
Asset/Basin:
["Permian Basin", "Midland Basin"]
TargetZones:
["Spraberry", "Wolfc
Net Acres
% Oil:
EbitDAX : Ebitdax_multple
Location
Calculated Metrics( EV/Category)
Country
United States
County
Upton ,Reagan ,Glasscock ,Martin ,Midland
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Subscribe to see
Civitas Resources said it is acquiring Vitol's Vencer Energy with assets in the Midland Basin for $2.1 billion in cash and stock. The acquisition is expected to close January 2024. This deal comes on the back of Civitas deal announced back in June to spend $4.7 billion to acquire Tap Rock and Hibernia Energy III.
As you might remember, Vencer acquired the 44,000 net acres from Hunt Oil co back on May 3rd, 2021. At the time of the acquisition, Vencer did not disclose the value of the transaction only saying the asset was producing some 40mboe/d.
Deal Metrics
Deal Value : $2.1 billion…
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