Civitas Resources reports Q2 EPS $1.72, consensus $1.69

Reports Q2 revenue $660.53M, consensus $645.56M. Reports average daily sales volumes of 173.5 thousand barrels of oil equivalent per day and 84.4 thousand barrels of oil per day. “This is a great day for Civitas, an organization with scale, portfolio diversity, and durability,” said Civitas CEO Chris Doyle. “We continue to perform exceptionally well and have strengthened our company with the addition of top-tier assets in the heart of the Permian Basin. Our diversified portfolio of oil assets will provide us with capital allocation flexibility and a greater ability to direct investments to our highest return opportunities. Our focus today is on effectively integrating our Permian assets into Civitas and delivering on our plan to profitably grow our business, while reducing debt and returning significant cash to shareholders.”