10 Feb 2026listing compliance notice▼ BadMajor
CIVITAS RESOURCES, INC. deregistered its securities, ending its obligation to file reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Jan 2026listing compliance notice● NeutralMajor
CIVITAS RESOURCES, INC.'s exchange filed to remove a class of its securities from listing.
30 Jan 2026business combination● NeutralMajor
The SM Energy merger closed on Jan 30, 2026 after both companies' stockholders approved it on Jan 27. Each Civitas share was converted into 1.45 SM Energy shares, Civitas ceased to exist, and all Civitas directors and officers left their Civitas roles. The Civitas credit facility with JPMorgan was fully repaid and terminated, Civitas stock stopped trading on the NYSE, and Civitas intends to file a Form 15 to end its SEC reporting. This resolves the pending merger thread; Civitas equity awards were assumed by SM Energy at the same 1.45 ratio.
20 Jan 2026business combination● Neutral
Civitas disclosed that two stockholder lawsuits (filed Jan 6 and Jan 8, 2026 in New York state court) and several demand letters claim the merger proxy statement left out information, and the lawsuits seek to block the merger or reverse it. Civitas denies more disclosure is needed but added some details anyway, including bid information from the 2025 sale process for its DJ assets and management financial projections for Civitas and SM Energy. It says the Jan 27, 2026 stockholder meetings stay on schedule, so this is a hurdle to the pending merger but not a change in its terms.
22 Dec 2025business combination● NeutralMajor
Civitas filed its final joint proxy statement/prospectus with SM Energy for the pending merger, first mailed around Dec 22, 2025. Each Civitas share would convert into 1.45 SM Energy shares (fixed ratio, not adjusted for price moves), leaving Civitas holders with about 52% of the combined company and SM Energy holders about 48%. Both companies hold virtual special meetings (SM Energy's is set for Jan 27, 2026); Civitas holders vote to adopt the merger agreement and on an advisory vote on executive merger pay, and the Civitas board recommends voting for both. Kimmeridge has agreed to vote in favor under a voting agreement. This moves the pending SM Energy deal toward the stockholder votes; the visible text does not show the Civitas meeting date or the vote result.
19 Dec 2025business combination▲ GoodMajor
On Dec 18, 2025, Civitas received notice that the US antitrust waiting period for the pending SM Energy merger ended early, satisfying one of the closing conditions. The filing says SM Energy has now filed its Form S-4 registration statement, but it is not yet declared effective. Stockholder votes and other conditions still remain, so the merger is not complete.
17 Nov 2025business combination● Neutral
Civitas and SM Energy issued a joint press release and presentation giving additional details on their planned merger. The release's headings cover the management team after closing, but the rest of the text is truncated, so no further terms can be reported. It continues the pending SM Energy deal and changes none of the announced terms in the visible text.
3 Nov 2025business combination● Neutral
Civitas furnished a joint press release and investor presentation announcing the Nov 2, 2025 merger agreement with SM Energy, which the release calls a $12.8 billion combination. It also says pro forma second-quarter 2025 production would total 526 MBoe/d (the rest of the release is truncated). The filing says SM Energy intends to file a Form S-4 with a joint proxy statement. This adds no new terms beyond the merger agreement filing.
3 Nov 2025business combination● NeutralMajor
Civitas signed a merger agreement with SM Energy Company on Nov 2, 2025. Each Civitas share would convert into 1.45 SM Energy shares, with Civitas ending up merged into SM Energy. Closing needs approval from both companies' stockholders, antitrust clearance, NYSE listing of the new shares, an effective registration statement and a tax opinion. The agreement sets an outside date of Aug 3, 2026 (extendable to Nov 2, 2026 for antitrust clearance only). Civitas would owe SM Energy a termination fee in certain cases (amount truncated in the text). The new SM Energy board would have 11 members, five of them from the Civitas board. This is a new thread that would end current shareholders' Civitas shares, but the deal has not closed.
3 June 2025debt financing● NeutralMajor
On June 3, 2025 Civitas completed a $750 million offering of 9.625% senior notes due June 15, 2033, with interest starting December 15, 2025. It expects to use the net proceeds to repay part of its credit facility borrowings, so this replaces bank debt with longer-term notes rather than adding to total debt (inference). The coupon is higher than the 8.625% notes issued in October 2023.
29 May 2025debt financing● Neutral
On May 28, 2025 Civitas signed an Eighth Amendment to its credit agreement, cutting the borrowing base from $3.4 billion to $3.3 billion and reaffirming the elected loan limit at $2.5 billion. It also removes a clause that would have made the credit facility mature 180 days before the 5.000% senior notes due 2026, which takes away an early-maturity trigger. The filing does not mention a Seventh Amendment, and the move from $2.2 billion to $2.5 billion elected commitments must have happened in a filing not seen here (inference).
14 June 2024debt financing▲ Good
On June 12, 2024 Civitas signed a Sixth Amendment to its JPMorgan-led credit agreement, raising the borrowing base by $400 million to $3.4 billion and elected commitments by $350 million to $2.2 billion. It also lowers interest margins, adds further margin cuts and covenant changes if Civitas reaches investment grade credit ratings, and adds new lenders. This continues the earlier expansion of the credit facility.
2 Jan 2024asset acquisition disposition● NeutralMajor
On January 2, 2024 Civitas closed the Vencer acquisition of oil and gas properties in Glasscock, Martin, Midland, Reagan and Upton Counties, Texas. It paid about $1.0 billion in cash plus 7,181,527 new shares (valued at about $600 million for the purchase agreement), with $550 million more in cash due January 3, 2025; prices are subject to adjustment from a January 1, 2024 effective date. The share count is lower than the 7,289,515 first announced (the filing does not explain why). The new shares dilute existing holders, and a registration rights agreement requires Civitas to file a resale registration for them. The press release says the deferred payment is planned to be funded from cash on hand and/or credit facility borrowings.
18 Oct 2023debt financing● NeutralMajor
On October 17, 2023 Civitas completed a $1.0 billion offering of 8.625% senior notes due November 1, 2030, with interest starting May 1, 2024. It expects to use the proceeds plus cash on hand to pay part of the cash price for the pending Vencer purchase, which resolves the open question of which financing would be used (notes rather than the bridge loan). If the Vencer deal does not close by January 31, 2024, or Civitas says it will not pursue it, the notes must be redeemed at 100% of face value plus accrued interest. Until then the proceeds may temporarily repay credit facility borrowings.
10 Oct 2023material agreement● NeutralMajor
On October 6, 2023 Civitas signed a Fifth Amendment to its JPMorgan credit agreement, letting it borrow up to $1.5 billion more through new unsecured notes or bridge facilities by January 31, 2024 to fund the Vencer deal. It also loosened several debt, dividend/buyback and investment limits (e.g. the general debt limit from 2.50x to 3.00x leverage) and removed the minimum hedging requirement. This addresses part of the funding for the Vencer purchase; the filing does not say which financing will actually be used.
4 Oct 2023capital raising announcement● NeutralMajor
On October 3, 2023 Civitas agreed to buy oil and gas properties from Vencer Energy in Glasscock, Martin, Midland, Reagan and Upton Counties, Texas, for $2.15 billion total: $1.0 billion cash and 7,289,515 new shares (about $600 million) at closing, plus up to $550 million cash due January 3, 2025. A 7.5% deposit is in escrow and closing conditions apply. If completed, the new shares would dilute existing holders, and Vencer would get resale registration rights; the deal has not closed per this filing. This is a new acquisition following the Hibernia and Tap Rock deals.
2 Aug 2023asset acquisition disposition● NeutralMajor
On August 2, 2023 Civitas closed both acquisitions signed in June: Hibernia for about $2.25 billion cash, and Tap Rock for about $1.5 billion cash plus 13,538,472 new shares (valued at about $950 million), both subject to post-closing adjustments based on a July 1, 2023 effective date. The new shares are now issued and dilute existing holders, with a registration rights agreement requiring a resale registration statement. It also amended its credit facility (Fourth Amendment): maturity extended to August 2, 2028, borrowing base raised by $1.15 billion to $3.0 billion, elected commitments up by $850 million to $1.85 billion, and maximum credit amounts $4.0 billion. Financial statements and pro forma information for the acquired businesses are to be filed later.
29 June 2023debt financing▼ BadMajor
On June 29, 2023 Civitas completed the offering of $1.35 billion of 8.375% senior notes due 2028 and $1.35 billion of 8.750% senior notes due 2031 (total $2.7 billion), to help pay for the Hibernia and Tap Rock acquisitions together with cash on hand and credit-facility borrowings. The notes must be partly or fully redeemed at 100% if the deals do not close by October 31, 2023 ($850M of each series if Hibernia fails, $600M of each if Tap Rock fails, all if neither closes). This adds substantial new debt with interest starting January 1, 2024; the filing text shown is truncated.
26 June 2023material agreement● NeutralMajor
On June 23, 2023 Civitas amended its JPMorgan-led credit agreement (Third Amendment) so it can fund the Hibernia and Tap Rock deals signed June 19 with new notes, cash on hand, credit-facility borrowings, and up to $2.7 billion of 364-day bridge loans from Bank of America and JPMorgan. This answers the open question of how the cash would be paid for. The filing says that if the $1.35 billion + $1.35 billion notes offering (8.375% due 2028 and 8.750% due 2031) closes, expected June 29, the company does not expect to draw the bridge loans.
20 June 2023capital raising announcement● NeutralMajor
On June 19, 2023 Civitas signed two acquisition agreements: Hibernia Energy III for $2.25 billion cash, and Tap Rock Resources for $1.5 billion cash plus 13,538,472 new Civitas shares (valued at about $950 million). Each has a 7.5% cash deposit in escrow and is subject to closing conditions, and the Tap Rock sellers will get resale registration rights. The share issue would dilute existing holders, and this is a large new expansion; neither deal had closed per this filing, and the visible text does not say how the cash will be funded.
24 Jan 2023material agreement▲ GoodMajor
On Jan 24, 2023 Civitas agreed to buy back 4,918,032 of its shares from CPP Investments (the Crestone Peak holder) at $61.00 each, about $300 million from cash on hand, approved by the board and its Audit Committee. CPP Investments, previously about 25.1% (21,398,753 shares), is expected to remain the largest holder at about 20.6%, and the company said the buyback cuts share count by about 6% to roughly 80.2 million.
21 Apr 2022material agreement▲ GoodMajor
Civitas raised its credit facility borrowing base from $1.0 billion to $1.7 billion and its elected commitment from $800 million to $1.0 billion after a regular semi-annual review, and said it will redeem all $100 million of its 7.50% notes due 2026 (the ones issued to former HighPoint noteholders) on May 1, 2022 at face value plus accrued interest. As of March 31 it had no borrowings on the facility and about $154 million of cash. This pays off the HighPoint-era notes and resolves the open question on the combined-company facility.
21 Mar 2022business combination● Neutral
Civitas filed extra financial statements for the HighPoint, Extraction and Crestone Peak acquisitions: a pro forma combined 2021 income statement and historical statements of Extraction and Crestone Peak. This only supplies financial information about deals already completed (HighPoint April 1, 2021; Extraction and Crestone Peak Nov 1, 2021); the visible text gives no figures or new events.
2 Mar 2022material agreement● NeutralMajor
Civitas raised the price for buying Bison Oil & Gas II, LLC from Bison Oil & Gas Partners II from $45 million to $160 million, all cash, and dropped the share consideration that had been planned in the Jan 31, 2022 agreement. It closed on March 1, 2022, paid from cash on hand, subject to a final post-closing settlement; this is a new acquisition after the 2021 mergers, and it uses cash rather than issuing shares.
22 Dec 2021material agreement● Neutral
On Dec 21, 2021 Civitas and its lenders, with JPMorgan as agent, amended the Nov 1, 2021 credit agreement ($2.0 billion maximum credit amount) so the minimum oil and gas hedging requirement does not apply while the leverage ratio is below 1.00:1 at a quarterly test date. This is a covenant loosening on the combined-company facility that the earlier context said had not been seen; no new borrowing or amounts are stated.
3 Nov 2021asset acquisition disposition▲ GoodMajor
On November 1, 2021 the company completed both the Extraction merger of equals and the Crestone Peak acquisition, resolving the two pending deals. It was renamed Civitas Resources, Inc. and its stock began trading on the NYSE as CIVI on November 2, 2021. Extraction holders received 1.1711 shares per share plus about 0.017225678 shares per share of dividend equalization (covering the June 30 and September 30, 2021 dividends); Crestone Peak's holder received 22,500,000 shares. Ownership after closing is about 37% former Bonanza Creek, 37% former Extraction and 26% Crestone Peak. Extraction's warrants were cancelled and replaced with Civitas warrants expiring January 20, 2025 (Tranche A) and January 20, 2026 (Tranche B). Around $1.5 million in cash was paid to certain Crestone Peak employees for phantom equity awards.
22 Oct 2021business combination● Neutral
The company disclosed that lawsuits and demand letters challenge the merger proxy: two demand letters and one complaint (Orphanidis, S.D.N.Y.) on the Bonanza Creek side, and two demand letters and four complaints on the Extraction side. The plaintiffs claim the proxy statement lacks disclosures; the companies call the claims without merit but are adding voluntary disclosures to avoid delay. Special meetings of both companies' stockholders are set for October 29, 2021, a date not previously seen, and the filing says the supplements will not change that timing.
15 Oct 2021debt financing● NeutralMajor
Bonanza Creek completed the $400 million 5.000% senior notes offering on October 13, 2021, resolving the pricing/closing question left open earlier. The notes are unsecured, mature October 15, 2026, pay interest semiannually from April 15, 2022, and are issued under an indenture with Wells Fargo as trustee. They must be redeemed at 100% plus accrued interest if the Extraction and Crestone Peak mergers do not close by December 31, 2021 or the company says it will not pursue them. Proceeds and cash are expected to repay all Crestone Peak credit facility borrowings, repay borrowings under the Bonanza Creek credit facility, and for general corporate purposes. The notes add new debt on top of the credit facility.
6 Oct 2021business combination● NeutralMajor
Bonanza Creek priced its previously announced private offering of $400 million of 5.000% senior notes due 2026, sold at par and expected to close around October 13, 2021. The notes must be redeemed early if the Extraction and Crestone Peak mergers are not completed by December 31, 2021 or if the company says it will not pursue them. This continues the October 5 financing plan; proceeds plus cash are to repay all Crestone Peak credit facility borrowings, repay borrowings under Bonanza Creek's own credit facility, and for general corporate purposes. The filing also repeats that the S-4 became effective September 28, 2021.
5 Oct 2021business combination● NeutralMajor
On October 5, 2021 the company announced plans to offer $400 million of new senior unsecured notes due 2026 in a private placement, subject to market conditions. Proceeds plus cash on hand are to repay all borrowings under the Crestone Peak credit facility and some borrowings under Bonanza Creek's own credit facility, and for general corporate purposes. The notes must be redeemed early if the Extraction and Crestone Peak mergers are not completed by December 31, 2021 or if the company says it won't pursue them. The filing also states the S-4 was declared effective by the SEC on September 28, 2021 and the joint proxy statement has been sent to shareholders of both companies.