{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-086811","form_type":"8-K","ticker":null,"cik":"0001509589","company_name":"CIVITAS RESOURCES, INC.","filed_at":"2023-08-02T23:59:59+00:00","discovered_at":"2026-05-14T18:03:34.144489+00:00","generated_at":"2026-06-12T12:58:46.370031+00:00","sec_items":["1.01","2.01","2.03","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Civitas closes $2.25B Hibernia and $2.45B Tap Rock acquisitions; credit facility expanded to $3B base","bullets":["Closed Hibernia acquisition for ~$2.25B cash; Tap Rock acquisition for ~$1.5B cash + 13.5M CIVI shares (~$950M).","Credit agreement amended: borrowing base raised to $3.0B (from $1.85B); commitments increased to $1.85B.","Maturity of credit facility extended to August 2, 2028; maximum credit amount set at $4.0B.","Entered registration rights agreement for Tap Rock stock consideration to facilitate resale.","Financial statements and pro forma info to be filed by amendment within 71 days."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-086811","json":"https://secwatch.observer/filing/0001104659-23-086811.json","markdown":"https://secwatch.observer/filing/0001104659-23-086811.md","text":"https://secwatch.observer/filing/0001104659-23-086811.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1509589/000110465923086811/0001104659-23-086811-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1509589/000110465923086811/tm2322539d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T12:58:46.370031+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"86e6197098e49c49bcc1696a374a82461f0eedfe","claim":"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.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1509589/000110465923086811/0001104659-23-086811-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"new cumulative Borrowing Base of $3,000,000,000"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A., as the administrative agent"},{"label":"Maturity","value":"August 2, 2028"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"9ea0fc5e84ada1b88c92ec25eb38f14dc5da94a3","claim":"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).","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1509589/000110465923086811/0001104659-23-086811-index.htm","confidence":0.95,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"Hibernia Sellers (Hibernia Energy III Holdings, LLC and Hibernia Energy III-B Holdings, LLC)"},{"label":"Consideration","value":"approximately $2,250,000,000 in cash"},{"label":"Closing","value":"2023-08-02"}],"fact_type":"ma_transaction"},{"claim_id":"bd664c8f95a6c950f408eaf868f5e3e4927e6fd0","claim":"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).","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1509589/000110465923086811/0001104659-23-086811-index.htm","confidence":0.95,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"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)"},{"label":"Consideration","value":"approximately $1,500,000,000 million in cash and 13,538,472 shares of common stock valued at approximately $950,000,000"},{"label":"Closing","value":"2023-08-02"}],"fact_type":"ma_transaction"},{"claim_id":"fe8552ddbaa91f8f09ad6bbdc068955b495b1cc4","claim":"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).","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1509589/000110465923086811/0001104659-23-086811-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A."},{"label":"Value","value":"$850,000,000"},{"label":"Effective","value":"2023-08-02"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}