Civitas Resources closes on $2.2 billion acquisition in Permian Basin

Denver-based Civitas Resources announced this week it closed on a $2.2 billion acquisition of Vencer Energy’s assets in the Permian Basin.

The deal was originally announced last October and involves 44,000 acres in the eastern Midland Basin of West Texas. Production is estimated at nearly 62,000 barrels of oil equivalent a day which will create a total production in the region of nearly 170,000 boepd according to the  Carlsbad Current Argus.

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