M&A Deal Summary

Civitas Resources Acquires Vencer Energy

On October 4, 2023, Civitas Resources acquired energy services and equipment company Vencer Energy from Vitol Holding B.V. for 2.2B USD

Acquisition Highlights
  • This is Civitas Resources’ 1st transaction in the Energy Services and Equipment sector.
  • This is Civitas Resources’ largest (disclosed) transaction.
  • This is Civitas Resources’ 2nd transaction in the United States.
  • This is Civitas Resources’ 1st transaction in Texas.

M&A Deal Summary
Date 2023-10-04
Target Vencer Energy
Sector Energy Services and Equipment
Buyer(s) Civitas Resources
Sellers(s) Vitol Holding B.V.
Deal Type Divestiture
Deal Value 2.2B USD

Target

Vencer Energy

Midland, Texas, United States
website
Vencer Energy owns and operates quality assets with stable production while continuing to seek acquisitions that would add accretive value. The Company’s operations are focused in the Midland Basin of West Texas; potential acquisition targets are scalable, operated assets with long-life reserves and low base decline. Formed in 2020, Vencer Energy is based in Houston, Texas, and regionally in Midland, Texas.

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Buyer(S) 1

Buyer

Civitas Resources

Denver, Colorado, United States

website

Category Company
Founded 1999
Sector Oil/Gas Exploration
Employees353
Revenue 3.8B USD (2022)
DESCRIPTION

Civitas Resources is an independent oil and natural gas company engaged in the acquisition, exploration, development and production of onshore oil and associated liquids-rich natural gas in the United States. The Company's assets and operations are concentrated primarily in the Rocky Mountain region in the Wattenberg Field, focused on the Niobrara and Codell formations, and in southern Arkansas, focused on oily Cotton Valley sands. Civitas Resources was incorporated in 1999 and is headquartered in Denver, Colorado.

DEAL STATS #
Overall 2 of 2
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 2 of 2
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-10 HighPoint Resources

Denver, Colorado, United States

HighPoint Resources is an exploration and production company focused on the development of oil and natural gas assets located in the Denver-Julesburg Basin of Colorado. The Company's assets are located in the NE Wattenberg and Hereford Fields and in rural settings that are favorable for oil development.

Buy -

Seller(S) 1

SELLER

Vitol Holding B.V.

Rotterdam, Netherlands

website

Category Company
Sector Energy Services and Equipment
Employees4,346
Revenue 303.0B USD (2012)
DESCRIPTION

Vitol is an energy trading company that ships petroleum products, ethanol, dry goods (coal, sugar), liquid natural gas and liquid petroleum gas, and chemicals around the world.

DEAL STATS #
Overall 2 of 2
Sector (Energy Services and Equipment) 2 of 2
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-02 ATX Energy Partners

Austin, Texas, United States

ATX Energy Partners is an exploration and production company focused on the acquisition and development of acreage positions in unconventional domestic oil and liquids resource plays. ATX Energy Partners was founded in 2017 and is based in Austin, Texas.

Buy -
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