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. (NYSE: CIVI) generates a steady flow of news as an independent exploration and production company focused on crude oil and liquids-rich natural gas in the Permian Basin in Texas and New Mexico and the DJ Basin in Colorado. Company updates frequently highlight operational performance in these basins, capital allocation decisions, and corporate developments.
News items include quarterly financial and operating results, where Civitas reports production trends, capital expenditures, operating costs, and free cash flow. Releases often describe drilling and completion activity in the Permian and DJ Basins, including multi-well pads and long-lateral developments, as well as progress on cost optimization and efficiency initiatives aimed at lowering well costs and cash operating expenses.
Investors following CIVI news also see announcements on capital return programs and balance sheet management. Civitas has reported Board actions to authorize or increase share repurchase programs, declare quarterly dividends, and enter into accelerated share repurchase agreements. The company has also issued senior notes and described using proceeds to repay borrowings under its revolving credit facility.
A major theme in recent coverage is the pending all-stock merger between Civitas and SM Energy Company, detailed in joint press releases and Form 8-K filings. These communications outline the agreed exchange ratio, the planned two-step merger structure, anticipated synergies, and the proposed governance and leadership framework for the combined company, subject to stockholder and regulatory approvals.
By monitoring this CIVI news feed, readers can review historical press releases on operational updates, capital markets transactions, leadership changes, and the status of the proposed combination with SM Energy, all drawn from company and regulatory disclosures.
Civitas Resources (NYSE: CIVI) has announced it will release its fourth quarter 2024 operating and financial results along with its 2025 outlook after market close on Monday, February 24, 2025. The company will host a conference call and webcast on Tuesday, February 25, 2025, at 7 a.m. MT (9 a.m. ET). Investors can join via phone at 888-510-2535 using passcode 4872770, or access the live webcast through the Investor Relations section of Civitas' website.
Civitas Resources (NYSE: CIVI) has announced its Board of Directors' approval of a quarterly dividend of $0.50 per share. The dividend will be paid on December 27, 2024, to shareholders who are on record as of December 13, 2024.
Civitas Resources (NYSE: CIVI) reported strong Q3 2024 financial results with net income of $295.8 million and sales volumes of 348.1 MBoe/d. The company returned $227 million to shareholders through dividends ($149 million) and share repurchases ($78 million). Notable operational achievements include reducing well costs in the Midland Basin by 13% to $740 per lateral foot and setting a DJ Basin production record. Q4 oil volumes are expected to increase 3% from Q3, with October production averaging 165 MBbl/d. The company maintains strong liquidity of over $1.4 billion and continues to focus on debt reduction, having paid down $88 million in Q3.
Civitas Resources (NYSE: CIVI) has announced the schedule for its third quarter 2024 financial results release and conference call. The company plans to release its Q3 2024 operating and financial results after market close on Thursday, November 7, 2024. A conference call and webcast are scheduled for 7 a.m. MT (9 a.m. ET) on Friday, November 8, 2024. Interested parties can join the call using the dial-in number 888-510-2535 with passcode 4872770. A live webcast and replay of the event will be available on the Investor Relations section of Civitas Resources' website at www.civitasresources.com.
Civitas Resources (NYSE: CIVI) has published its 2024 Corporate Sustainability Report, highlighting the company's commitment to responsible operations and sustainability initiatives. Key achievements include:
- 41% reduction in greenhouse gas emission intensity in DJ Basin assets from 2019 to 2023
- Plugging of 19 orphan wells in Colorado in 2023, with 24 more planned for 2024
- Maintaining carbon neutrality and achieving zero routine flaring in DJ Basin assets
- Combined Total Recordable Incident Rate of 0.23 in 2023
The report also outlines updated targets for the company's expanded operations, including a 40% absolute emission reduction and a 65% Permian Basin pneumatic emission reduction by 2030. This report marks Civitas' first sustainability update following its expansion into the Permian Basin.
Civitas Resources (NYSE: CIVI) has received approval from Colorado's Energy and Carbon Management Commission for the Lowry Ranch Comprehensive Area Plan (CAP) in the Watkins area of the DJ Basin. This approval allows Civitas to begin drilling operations in the Lowry Ranch area in 2024.
The COO, Hodge Walker, emphasized that the CAP approval resulted from thorough work by the Civitas team and extensive stakeholder engagement. The plan aims to ensure safe development of natural resources while protecting the environment and minimizing community impacts. Walker also noted that Watkins is a prolific development area within the DJ Basin.
Civitas Resources (NYSE: CIVI) reported strong Q2 2024 results, with net income of $216 million and adjusted EBITDAX of $918.1 million. The company enhanced its capital return framework, increasing share buyback authorization to $500 million. Key highlights include:
- Total sales volumes of 342.9 MBoe/d, exceeding expectations
- Permian Basin sales volumes up nearly 12% from Q1
- Well costs in Midland Basin 10% lower than start of year
- $274 million returned to shareholders through dividends and share repurchases
- Full-year 2024 capital guidance reduced by $50 million to $1.85-$1.95 billion
- Full-year 2024 sales volume outlook raised 1.5% to 335-345 MBoe/d
The company's performance demonstrates strong execution and asset quality improvements across its portfolio.
Civitas Resources (NYSE: CIVI) has announced a quarterly dividend of $1.52 per share, set to be paid on September 26, 2024, to shareholders of record as of September 12, 2024. This dividend comprises a base dividend of $0.50 and a variable dividend of $1.02 per share. The company's Board of Directors approved this dividend, demonstrating Civitas' commitment to returning value to shareholders. For more details on the variable dividend calculation, investors can refer to the latest investor presentation available on the company's website.
Civitas Resources (NYSE: CIVI) has announced its schedule for the release of its second quarter 2024 financial and operating results. The results will be released after the market closes on August 1, 2024. Following this, a conference call and webcast will be held on August 2, 2024, at 9 a.m. MT (11 a.m. ET). Investors can join the call using the dial-in number 888-510-2535 with passcode 4872770, or watch the live webcast and replay on Civitas Resources' Investor Relations website.
Civitas Resources announced a secondary public offering of 6,956,520 shares of its common stock by an affiliate of Canada Pension Plan Investment Board (CPP). Civitas will not sell any shares or receive proceeds from the sale. BofA Securities is the sole underwriter for the offering, with an option to purchase an additional 1,043,478 shares within 30 days. The offering can involve transactions on the NYSE, over-the-counter markets, or negotiated sales at market or related prices. A registration statement with the SEC is effective, and the offering will proceed via a prospectus supplement and base prospectus. No securities will be sold where unlawful.