Civitas Resources, Inc. (CIVI)

Civitas Resources, Inc. was an independent oil and natural gas company headquartered in Denver, Colorado, focused on the Denver-Julesburg Basin, where the Wattenberg Field is located. The company was formerly known as Bonanza Creek Energy, which was founded in 1999 and listed on the NYSE.

The modern Civitas took shape in 2021 when Bonanza Creek merged with HighPoint Resources and acquired assets from Extraction Oil and Gas. The combined company adopted the Civitas Resources name in November 2021 and became one of the largest producers in the DJ Basin. The company emphasized a framework of returning cash to shareholders through base and variable dividends and share repurchases.

Civitas continued consolidating in the basin. In 2023 it acquired Tap Rock Resources and Hibernia Energy III, expanding into the Permian Basin in New Mexico and Texas, and in 2024 it purchased additional Permian assets from Vencer Energy. These deals broadened its asset base beyond Colorado.

Commodity price weakness in 2025 and regulatory pressure in Colorado weighed on the shares. Management pursued asset sales and a focus on debt reduction while mid-sized exploration and production companies looked for scale.

In November 2025, Civitas and SM Energy Company, a Houston-based producer with assets in Texas, Utah and elsewhere, announced an all-stock merger. Under the agreement, Civitas shareholders would receive SM Energy shares in exchange for their Civitas shares. The combination was expected to create a larger company with significant Permian and DJ Basin positions and to produce cost synergies.

Stockholders of both companies approved the transaction at special meetings in January 2026. The merger closed on January 30, 2026. Civitas stock was removed from the NYSE and a Form 25 was filed that day. The combined company is named SM Energy Company, trades on the NYSE under the ticker SM, and has a board of 11 directors, five from Civitas and six from SM Energy.