Civitas Resources, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 03, 2022 at 10:17 pm
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Civitas Resources, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported net income was USD 468.82 million compared to net loss of USD 25.32 million a year ago. Basic earnings per share from continuing operations was USD 5.52 compared to basic loss per share from continuing operations of USD 0.83 a year ago. Diluted earnings per share from continuing operations was USD 5.48 compared to diluted loss per share from continuing operations of USD 0.83 a year ago.
For the six months, net income was USD 560.46 million compared to net loss of USD 25.44 million a year ago. Basic earnings per share from continuing operations was USD 6.6 compared to basic loss per share from continuing operations of USD 0.99 a year ago. Diluted earnings per share from continuing operations was USD 6.56 compared to diluted loss per share from continuing operations of USD 0.99 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).