Civitas Earnings Reports

Civitas posted Q4 2024 revenue of $1.29 billion, reflecting strong commodity price realizations and increased production. Net income reached $151 million, while adjusted net income was $171 million. Free cash flow stood at $519 million, supporting debt reduction and shareholder returns. Sales volumes increased to 352 MBoe/d, with oil volumes at 164 MBbl/d. The company expects continued operational efficiencies and strategic investments to drive growth in 2025.

Civitas Resources reported strong third quarter 2024 results, driven by increased sales volumes and efficient capital spending. The company focused on returning capital to shareholders through dividends and share repurchases, while also reducing debt. Increased oil production is expected in the fourth quarter.

Civitas Resources reported strong second quarter results, driven by Permian Basin acquisitions and operational efficiencies. The company increased its share buyback authorization to $500 million and raised its 2024 sales volume outlook by 1.5%. Well costs in the Midland Basin are down 10% since the start of the year.

Civitas Resources reported a strong first quarter in 2024, marked by operational efficiencies in the Permian Basin and the successful divestment of non-core DJ Basin assets. The company's financial liquidity remained robust at $1.5 billion, and it reaffirmed its full-year sales volume outlook.