Civitas Resources Inc is nearing a deal to acquire oil and gas operations in the Permian basin from private equity firm NGP Energy Capital Management LLC for close to $5 billion, including debt, people familiar with the matter said on Monday.
is nearing a deal to acquire oil and gas operations in the Permian basin from private equity firm NGP Energy Capital Management LLC for close to $5 billion, including debt, people familiar with the matter said on Monday.
Civitas is in advanced discussions with NGP to buy Hibernia Resources as well as much of Tap Rock Resources, the sources said. If the negotiations conclude successfully, an agreement could be announced as early as Tuesday, the sources said, requesting anonymity because the matter is confidential.Reuters reported in April that NGP wasCivitas, created in 2021 through the combination of three smaller DJ basin producers, bills itself as Colorado's first carbon-neutral energy producer.
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