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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Texas Fashion Industry AwardsTexas Fashion Industry Awards Texas Fashion Industry Awards are an annual event hosted by the Texas Fashion Industry Initiative, a non-profit organization (501c3) dedicated to the growth and development of fashion in Texas. TFIA serves as the big finale to Texas Fashion week™, the Texas Fashion Industry Awards is known as the premier red carpet event of the year and recognizes the best in our local fashion industry, acknowledges our Texas colleagues & celebrates all of their achievements.
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