Civitas Resources, Inc., an independent oil and gas producer, has recently caught the attention of UBS, leading to a revision of its outlook to Neutral.
The company's main focus is on developing its assets in the Denver-Julesburg (DJ) and Permian Basins, with significant operations in the Delaware and Midland Basins. Civitas holds a substantial amount of net acres in both the DJ Basin and the Permian Basin. With a total production capacity of approximately 280,000 barrels of oil equivalent (BOE), Civitas is a significant player in the domestic energy sector. The company's strategic focus on these key basins demonstrates its commitment to expanding its operational presence in regions with abundant resource potential.