Civitas Resources weighs sale of DJ Basin assets, Bloomberg News reports (updated)

Civitas Resources

15/01/2025 12:47

(Adds details from the report in paragraphs 3)
       Jan 15 (Reuters) - Oil and gas producer Civitas
Resources  CIVI.N  is exploring a sale of part or all of its
assets in the Denver-Julesburg Basin (DJ Basin) in Colorado,
which could be valued at more than $4 billion, Bloomberg News
reported on Wednesday.
    Civitas operates across the Permian and DJ basins in the
United States. Its average daily production in the Colorado
basin stands at about 169,000 barrel of oil equivalent (boe).
    The company is working with a financial adviser to gauge
buyer interest and would be open to divesting fully from the
basin if it receives a sufficiently attractive offer, the
Bloomberg report said, citing people familiar with the matter.
    Civitas did not immediately respond to a Reuters request for
comment.
    

 (Reporting by Pooja Menon in Bengaluru; Editing by Shilpi
Majumdar)
 ((Pooja.Menon@thomsonreuters.com))