Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
CIVITAS RESOURCES, INC. amended credit facility of new cumulative Borrowing Base of $3,000,000,000 with JPMorgan Chase Bank, N.A., as the administrative agent maturing August 2, 2028.
- Instrument
- credit facility
- Principal
- new cumulative Borrowing Base of $3,000,000,000
- Counterparty
- JPMorgan Chase Bank, N.A., as the administrative agent
- Maturity
- August 2, 2028
- Event
- amendment
Exact text from the filing
The Fourth Amendment amends the Credit Agreement to, among other things: (i) extend the maturity date to August 2, 2028, (ii) increase the Borrowing Base (as defined in the Credit Agreement) by $1,150,000,000 for a new cumulative Borrowing Base of $3,000,000,000, (iii) increase the aggregate elected commitments of the lenders under the Company’s existing credit facility by an additional $850,000,000, for a total increased facility size of $1,850,000,000 in aggregate elected commitments and (iv) increase the aggregate maximum credit amounts to a cumulative $4,000,000,000.
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.95
CIVITAS RESOURCES, INC. completed an acquisition involving Hibernia Sellers (Hibernia Energy III Holdings, LLC and Hibernia Energy III-B Holdings, LLC) for approximately $2,250,000,000 in cash (closed 2023-08-02).
- Action
- acquisition
- Counterparty
- Hibernia Sellers (Hibernia Energy III Holdings, LLC and Hibernia Energy III-B Holdings, LLC)
- Consideration
- approximately $2,250,000,000 in cash
- Closing
- 2023-08-02
Exact text from the filing
On August 2, 2023, the Company completed the Hibernia Acquisition for a purchase price of approximately $2,250,000,000 in cash paid to the Hibernia Sellers for the Hibernia Interests.
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.95
CIVITAS RESOURCES, INC. completed an acquisition involving Tap Rock Sellers (Tap Rock Resources Legacy, LLC, Tap Rock Resources Intermediate, LLC, Tap Rock Resources II Legacy, LLC, Tap Rock Resources II Intermediate, LLC, Tap Rock NM10 Legacy Holdings, LLC, Tap Rock NM10 Holdings Intermediate, LLC) for approximately $1,500,000,000 million in cash and 13,538,472 shares of common stock valued at approximately $950,000,000 (closed 2023-08-02).
- Action
- acquisition
- Counterparty
- Tap Rock Sellers (Tap Rock Resources Legacy, LLC, Tap Rock Resources Intermediate, LLC, Tap Rock Resources II Legacy, LLC, Tap Rock Resources II Intermediate, LLC, Tap Rock NM10 Legacy Holdings, LLC, Tap Rock NM10 Holdings Intermediate, LLC)
- Consideration
- approximately $1,500,000,000 million in cash and 13,538,472 shares of common stock valued at approximately $950,000,000
- Closing
- 2023-08-02
Exact text from the filing
On August 2, 2023, the Company completed the Tap Rock Acquisition for a purchase price of (i) approximately $1,500,000,000 million in cash and (ii) 13,538,472 shares of common stock, par value $0.01 per share, of the Company (the “Shares”) valued, for purposes of the Tap Rock Acquisition Agreement, at approximately $950,000,000 (the “Tap Rock Stock Consideration”) as total consideration paid to the Tap Rock Sellers for the Tap Rock Interests.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
CIVITAS RESOURCES, INC. amended Fourth Amendment to Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A. valued at $850,000,000 (effective 2023-08-02).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- JPMorgan Chase Bank, N.A.
- Value
- $850,000,000
- Effective
- 2023-08-02
Exact text from the filing
In connection with the closing of the Hibernia Acquisition and the Tap Rock Acquisition (as each is defined below), on August 2, 2023, Civitas Resources, Inc. (the "Company") entered into a Fourth Amendment to Amended and Restated Credit Agreement (the "Fourth Amendment"), among the Company, the guarantors party thereto (the "Guarantors"), the lenders party thereto, and JPMorgan Chase Bank, N.A., as the administrative agent (the "Administrative Agent"), which Fourth Amendment amends the terms of that certain Amended and Restated Credit Agreement, dated as of November 1, 2021 (the "Credit Agreement") among the Company, the Guarantors, each lender from time to time party thereto, and the Administrative Agent. The Fourth Amendment amends the Credit Agreement to, among other things: (i) extend the maturity date to August 2, 2028, (ii) increase the Borrowing Base (as defined in the Credit Agreement) by $1,150,000,000 for a new cumulative Borrowing Base of $3,000,000,000, (iii) increase the
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