Divestiture • Energy Services and Equipment

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 Context
  • This is Civitas Resources’ 1st transaction in the Energy Services and Equipment sector.
  • This is Civitas Resources’ largest (disclosed) transaction.
  • This is Civitas Resources’ 3rd transaction in the United States.
  • This is Civitas Resources’ 1st transaction in Texas.

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M&A Deal Summary

Date October 4, 2023
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 Company

Vencer Energy

Midland, Texas, United States
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 Overview 1

Buyer

Civitas Resources

Denver, Colorado, United States

Category Company
Founded 1999
Sector Oil/Gas Exploration
Employees655
Revenue 5.2B USD (2024)
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 Context for Buyer #
Overall 3 of 3
Sector: Energy Services and Equipment 1 of 1
Type: Divestiture 1 of 1
State: Texas 1 of 1
Country: United States 3 of 3
Year: 2023 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-07 Crestone Peak Resources

Denver, Colorado, United States

Crestone Peak Resources is an energy company that specialized in the acquisition, exploration, and production of oil and gas. Crestone Peak Resources was formed in 2016 and is based in Denver, Colorado.

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Seller Profile 1

SELLER

Vitol Holding B.V.

Rotterdam, Netherlands

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 Context for Seller #
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.

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