Here are the 10-Q quarterly reports from Civitas Resources, Inc. (CIVI) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CIVI and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CIVI filings page.
Civitas Resources, Inc. reported Q3 2025 results with operating net revenues of $1,168 million and net income of $177 million. Diluted EPS was $1.99 on weighted-average diluted shares of 88,962,984. Operating expenses were $895 million, and the quarter included a derivative gain, net, of $79 million and interest expense of $120 million.
For the nine months ended September 30, 2025, net cash provided by operating activities was $1,877 million. Capital expenditures were $1,432 million, acquisitions used $761 million, dividends paid were $141 million, and share repurchases totaled $322 million. Total debt was $5,139 million at September 30, 2025, including $4,850 million of Senior Notes and $350 million drawn on the Credit Facility. In June, the company issued $750 million of 9.625% Senior Notes due 2033, receiving net proceeds of $743 million used to repay Credit Facility borrowings.
The company executed two divestitures of non-core DJ Basin assets for $435 million in cash (closed August 29 and October 1, 2025). The borrowing base and elected commitments under the Credit Facility were reaffirmed at $3.3 billion and $2.5 billion, respectively, with $2,148 million of availability at quarter-end. Shares outstanding were 85,293,095 as of September 30, 2025.
Overview — Quarter ended June 30, 2025
Civitas Resources, Inc. reported operating net revenues of $1,054 million for the three months and $2,246 million for the six months ended June 30, 2025, down from $1,311 million and $2,639 million year-over-year, respectively. Net income was $124 million for the quarter and $310 million for the six months, with basic EPS of $1.34 and $3.33, respectively.
Balance sheet and liquidity: Total assets were $15,403 million and total stockholders' equity was $6,794 million as of June 30, 2025. Cash and cash equivalents were $69 million. Long-term debt, net, was $5,388 million (outstanding senior notes gross $4,850 million). On June 3, 2025 the company issued $750 million of 9.625% Senior Notes due 2033. Borrowings under the Credit Facility were $600 million with available borrowing capacity of $1,898 million.
Cash flow and capital: Net cash provided by operating activities was $1,017 million for six months; capital expenditures were $961 million; acquisitions of businesses, net, were $(756) million. Dividends paid totaled $97 million and common stock repurchased and retired totaled $(72) million.
Derivatives: Derivative gain, net, was $104 million in Q2 and $156 million for six months. Derivative assets totaled $186 million and liabilities $54 million as of June 30, 2025.