Welcome to our dedicated page for Civitas Solns news (Ticker: CIVI), a resource for investors and traders seeking the latest updates and insights on Civitas Solns stock.
Civitas Resources, Inc. generated news around oil and gas operations, capital returns, governance matters, and corporate-status changes. The company was an independent exploration and production business focused on acquiring, developing, and producing crude oil and liquids-rich natural gas assets in the Permian Basin in Texas and New Mexico and the DJ Basin in Colorado.
CIVI updates commonly covered operating and financial results, conference-call timing, dividends, share repurchase authorizations, debt-reduction priorities, material agreements, shareholder voting matters, and the completed merger process that ended Civitas as a separate legal entity.
Civitas Resources (NYSE:CIVI) has announced its upcoming second quarter 2025 earnings release and conference call schedule. The company will release its Q2 2025 operating and financial results after market close on Wednesday, August 6, 2025.
A conference call and webcast will be held the following day on Thursday, August 7, 2025, at 6:00 a.m. MT (8:00 a.m. ET). Investors can access the call using the dial-in number 888-510-2535 with passcode 4872770. The event will be available via webcast on the company's Investor Relations website, with a replay option available afterward.
Civitas Resources (NYSE: CIVI) has announced the pricing of an upsized private placement of $750 million in aggregate principal amount of new senior notes. The notes will carry a 9.625% interest rate and are due in 2033. The offering, expected to close on June 3, 2025, is being made to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.
The company plans to use the net proceeds to repay a portion of its outstanding borrowings under its revolving credit facility. The notes will not be registered under the Securities Act and are being offered through an exemption from registration requirements.
Civitas Resources (NYSE: CIVI) has announced plans to offer $500 million in senior unsecured notes due 2032 through a private placement to qualified institutional buyers under Rule 144A and Regulation S. The company intends to use the proceeds to repay a portion of its outstanding revolving credit facility borrowings.
The notes will not be registered under the Securities Act and can only be offered to qualified institutional buyers or non-U.S. persons outside the United States. The offering is subject to market conditions and applicable securities laws.
Civitas Resources (NYSE: CIVI) has appointed Clay Carrell as its new President and Chief Operating Officer, effective immediately. Carrell brings over 35 years of energy industry experience, most recently serving as Executive Vice President & COO of Southwestern Energy until its merger with Chesapeake Energy. Previously, he held executive positions at EP Energy and El Paso Corporation, and worked at ARCO Oil and Gas Company, Burlington Resources, and Peoples Energy Production.
CEO Chris Doyle highlighted Carrell's proven leadership in managing multi-basin development programs and implementing best practices to reduce costs and enhance margins. Carrell, who holds a bachelor's degree in Petroleum Engineering from Texas A&M University, expressed enthusiasm about maximizing value from Civitas's development programs in the Permian and DJ Basins.
Civitas Resources (NYSE: CIVI) has announced it will release its first quarter 2025 operating and financial results after market close on Wednesday, May 7, 2025. The company will host a conference call and webcast the following day on Thursday, May 8, 2025, at 6:30 a.m. MT (8:30 a.m. ET). Investors can access the call using the dial-in number 888-510-2535 with passcode 4872770. A live webcast and replay will be available on the company's Investor Relations website.
Civitas Resources (NYSE: CIVI) has appointed Lloyd W. 'Billy' Helms, Jr. to its Board of Directors, effective immediately. Helms brings 40 years of oil and gas industry experience and over 15 years of executive management expertise to the board.
Helms most recently served at EOG Resources, where he held various leadership positions including President (2021-2024), Chief Operating Officer (2017-2023), and multiple Executive Vice President roles. He holds a Bachelor of Science in Petroleum Engineering from Texas Tech University.
With Helms' appointment, Civitas' board now consists of 10 directors, with nine being independent members. Board Chair Wouter van Kempen highlighted Helms' track record of operational excellence and ability to create sustainable efficiencies across multiple basins.
Civitas Resources (NYSE: CIVI) has announced its 2025 outlook, focusing on maximizing free cash flow and debt reduction. The company plans to reduce capital investments by nearly 5% year-over-year to $1.8-1.9 billion while targeting oil production of 150-155 MBbl/d.
Key highlights include generating approximately $1.1 billion in free cash flow (at $70 WTI), maintaining a quarterly dividend of $0.50 per share, and reducing year-end 2025 net debt below $4.5 billion. The company has also expanded its Permian Basin position through a $300 million bolt-on acquisition, adding 19,000 net acres and approximately 130 future development locations.
Civitas will allocate slightly more than half of total capital investments to the Permian Basin, running approximately five drilling rigs there and two in the DJ Basin. The company has announced a 10% workforce reduction and set a divestment target of $300 million for 2025.
Civitas Resources (NYSE: CIVI) reported strong Q4 and full-year 2024 results, with total sales volumes reaching 352 MBoe/d (50% each from Permian and DJ Basin). Q4 capital expenditures were $278 million, with the company drilling, completing, and turning to sales multiple wells across both basins.
The company generated adjusted free cash flow of $1.3 billion in 2024, representing a 29% yield. They returned over $920 million to shareholders through $494 million in dividends and $427 million in share repurchases. Operational highlights included reducing Midland Basin well costs from $850 to under $725 per lateral foot and implementing simulfrac operations that increased fluid throughput by 40%.
2024 proved reserves increased 14% to 798 million barrels of oil equivalent. The company reduced long-term debt by $350 million in Q4 while repurchasing nearly 3.5% of outstanding shares.
Civitas Resources (NYSE: CIVI) has announced a schedule update for its upcoming fourth quarter 2024 results and 2025 outlook conference call and webcast. The event will now take place at 6:30 a.m. MT (8:30 a.m. ET) on Tuesday, February 25, 2025, due to scheduling conflicts.
The company will release its Q4 2024 operating and financial results and provide its 2025 outlook after market close on Monday, February 24, 2025. Participants can join the call using the dial-in number 888-510-2535 with passcode 4872770. A live webcast and replay will be available on the company's Investor Relations website.