2.8 x
Civitas Resources to buy Midland Basin assets in $2.1B cash and stock deal
25 % stock, 75 % cash
https://seekingalpha.com/news/4018070-civitas-resources-to-buy-midland-basin-assets-in-21b-cash-and-stock-deal
agreed to acquire oil producing assets in west Texas' Midland Basin from Vencer Energy for ~$2.1B, comprised of 7.3M common shares and $1.55B of cash, of which $1B is due at closing.
Civitas (CIVI) said the deal will increase free cash flow and balance its portfolio between the Permian and DJ basins.
The company said the acquisition will add 44K net acres in the Midland Basin and current production of 62K boe/day (~50% oil).