TendieTensor TendieTensor
You’re browsing as
Guest
Free Preview
Sign in/sign up to unlock all features.

News  ›  Benzinga

Civitas Resources Merges With SM Energy In $12.8 Billion Deal, Strengthening Permian Basin Footprint

Benzinga Logo Benzinga By Lekha Gupta
Civitas Resources Merges With SM Energy In $12.8 Billion Deal, Strengthening Permian Basin Footprint

Civitas Resources and SM Energy announced a $12.8 billion merger that will create a leading oil and gas company with 823,000 net acres in top U.S. shale basins, primarily in the Permian Basin, with expected annual synergies of $200-300 million.

Insights
META   neutral

Minimal price movement, awaiting earnings report with focus on cloud growth and CapEx guidance


CIVI   positive

Shareholders will receive 1.45 shares of SM Energy per Civitas share, and will own approximately 52% of the merged company, indicating a favorable merger outcome