Civitas Resources, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 05:16 pm EST
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Civitas Resources, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net income was USD 139.67 million compared to USD 405.75 million a year ago. Basic earnings per share from continuing operations was USD 1.57 compared to USD 4.77 a year ago. Diluted earnings per share from continuing operations was USD 1.56 compared to USD 4.74 a year ago.
For the nine months, net income was USD 481.42 million compared to USD 966.21 million a year ago. Basic earnings per share from continuing operations was USD 5.75 compared to USD 11.37 a year ago. Diluted earnings per share from continuing operations was USD 5.7 compared to USD 11.3 a year ago.
Civitas Resources, Inc. is an independent, domestic oil and gas producer focused on development of its assets in the Denver-Julesburg (DJ) and Permian Basins. The Companyâs operations are focused along the Denver-Julesburg (DJ), Delaware and Midland Basins. Its development facilities are located in counties across the Front Range of northern and central Colorado, as well as Southeastern New Mexico and West Texas. Its acreage position in the DJ Basin is about 453,600 net acres and, in the Permian Basin, it is about 68,500 net acres. The Company has a total production of about 280,000 barrels of oil equivalent (BOE).