Colorado-based Civitas Resources plans to boost its presence in the Permian with a $5-billion acquisition, Reuters has reported, citing unnamed sources. The targets of the acquisition include Hibernia Resources the majority of assets owned by Tap Rock Resources. Both are owned by private equity firm NGP, with which Civitas is currently in talks about the two portfolio companies.
Two months ago, Reuters reported, again citing unnamed sources, that NGP was considering a sale of the two companies in the Permian, eyeing proceeds of some $7 billion.…Civitas Resources Plans $5 Billion Expansion In The Permian
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