Civitas Considers Merger With Fellow Permian Player ...Middle East

OILPRICE - Economy
Civitas Considers Merger With Fellow Permian Player
source : OILPRICE ( Middle East ) () 95
Civitas Resources may merge with fellow Permian producer SM Energy, Bloomberg reported today, citing unnamed sources in the know. The sources told the publication the deal would likely take the form of a merger between equals with no premium included in the price tag. Once combined, the new company would be worth some $14 billion, Bloomberg has calculated, which would make the deal one of the largest this year in the energy space. Civitas Resources has a market value of some $3.2 billion, while SM Energy is worth around $2.9 billion, the report…

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