Civitas to pay $2B for Texas oil producing assets to Vitol-backed company

Civitas Resources Inc.

said Wednesday it agreed to pay $2.1 billion to Vencer Energy, a business backed by Luxembourg-based investment holding company Vitol, for oil producing assets in the Midland Basin of west Texas. The deal is expected to close in January. BofA Securities is lead financial adviser and J.P. Morgan Securities LLC and RBC Capital Markets are also providing financial advice on the deal. Civitas Resources stock was down 0.5% in premarket trading on Wednesday.

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