BRIEF--Civitas Resources To Buy Permian Assets From NGP Energy For $4.7 Bln

Civitas Resources Inc: * CIVITAS RESOURCES TO ENTER PERMIAN BASIN THROUGH TRANSFORMATIVE TRANSACTIONS

* CIVITAS RESOURCES INC - PROPOSED DEAL FOR TOTAL CONSIDERATION OF APPROXIMATELY $4.7 BILLION * CIVITAS RESOURCES INC - PROPOSED DEAL IMMEDIATELY ACCRETIVE TO KEY FINANCIAL METRICS

* CIVITAS RESOURCES INC - AGREED TO PURCHASE A PORTION OF TAP ROCK'S DELAWARE BASIN ASSETS FOR $2.45 BILLION * CIVITAS RESOURCES - TWO DEFINITIVE AGREEMENTS TO ACQUIRE OIL PRODUCING ASSETS IN MIDLAND AND DELAWARE BASINS OF WEST TEXAS AND NEW MEXICO

* CIVITAS RESOURCES INC: TRANSACTIONS ARE EXPECTED TO DELIVER AN ESTIMATED 35% UPLIFT TO 2024 FREE CASH FLOW PER SHARE * CIVITAS: EXPECTS TO GENERATE ABOUT $1.1 BILLION OF PRO FORMA FCF IN 2024 AT $70/BBL WTI & $3.50/MMBTU HENRY HUB NYMEX PRICING

* CIVITAS RESOURCES INC - AGREEMENTS WERE SIGNED WITH AFFILIATES OF HIBERNIA ENERGY III AND TAP ROCK RESOURCES * CIVITAS RESOURCES - DEAL FOR TAP ROCK'S DELAWARE BASIN ASSETS INCLUDES $1.5 BILLION IN CASH, ABOUT 13.5 MILLION SHARES OF CO'S COMMON STOCK VALUED AT ABOUT $950 MILLION

* CIVITAS RESOURCES INC - TAP ROCK WILL RETAIN ITS OWNERSHIP OF OLYMPUS DEVELOPMENT AREA * CIVITAS RESOURCES INC - AGREED TO PURCHASE HIBERNIA'S MIDLAND BASIN ASSETS FOR $2.25 BILLION IN CASH

* CIVITAS RESOURCES INC - EXPECTS TOTAL PRO FORMA DIVIDEND WILL INCREASE BY ABOUT 20% IN 2024 * CIVITAS RESOURCES INC: PLANS TO FUND TWO TRANSACTIONS THROUGH INCURRENCE OF APPROXIMATELY $2.7 BILLION OF UNSECURED SENIOR DEBT

* CIVITAS RESOURCES INC - BANK OF AMERICA AND JP MORGAN ARE ALSO PROVIDING CIVITAS WITH $3.5 BILLION OF COMMITTED FINANCING FOR TRANSACTION * CIVITAS RESOURCES INC - PLANS TO SELL APPROXIMATELY $300 MILLION IN NON-CORE ASSETS BY MID-2024

* CIVITAS RESOURCES: TO ALSO FUND DEALS VIA ABOUT 13.5 MILLION SHARES WORTH $950 MILLION, ABOUT $600 MILLION IN BORROWINGS AND ABOUT $400 MILLION OF CASH-ON-HAND * CIVITAS RESOURCES INC - TRANSACTIONS WILL INCREASE CIVITAS' EXISTING PRODUCTION BY 60%

* CIVITAS RESOURCES - TO ACCELERATE DEBT REDUCTION, AMENDED ITS SHARE BUYBACK AUTHORIZATION TO $500 MILLION THROUGH YEAR-END 2024 Source text for Eikon: Further company coverage:

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