Group 1 - Civitas Resources (NYSE: CIVI) issued $750 million in new unsecured notes to reduce part of its credit facility debt and enhance liquidity for its October 2026 notes [1] - The company aims to manage its financial obligations effectively while ensuring sufficient liquidity for future needs [1] Group 2 - The investment group Distressed Value Investing focuses on value opportunities and distressed plays, particularly in the energy sector [2] - The author of the investment group has over 15 years of analytical experience and has previously co-founded a mobile gaming company [2]

Financial Data and Key Metrics Changes - The company has ratified the selection of Deloitte and Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025 [4] - The compensation of named executive officers has been approved on an advisory basis [4] Business Line Data and Key Metrics Changes - No specific data or metrics related to individual business lines were provided in the meeting [1][2] Market Data and Key Metrics Changes - No specific market data or metrics were discussed during the meeting [1][2] Company Strategy and Development Direction and Industry Competition - The meeting focused on the election of board members and the approval of accounting firm selection, indicating a stable governance structure [1][4] - The company is maintaining its current strategic direction without any new initiatives mentioned during the meeting [1][4] Management Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during the meeting [5][6] Other Important Information - The polls for voting on the proposals were officially closed, and the preliminary vote report indicated that all nominees for the board of directors were duly elected [3][4] - A written report of the final vote count will be included in the minutes of the meeting and reported on a Form 8-K within four business days [4] Q&A Session All Questions and Answers - No questions were submitted during the Q&A session, and the meeting concluded without addressing any inquiries from stockholders [5][6]

Core Viewpoint - A lawsuit has been filed against Civitas Resources, Inc. and its senior executives for potential violations of federal securities laws, specifically related to misleading statements about the company's production capabilities and costs [1][2][3]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the District of New Jersey, titled Lin v. Civitas Resources, et al., No. 25-cv-03791, and claims are made under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [2]. - Investors have until July 1, 2025, to request to be appointed to lead the case [2]. Group 2: Company Background - Civitas Resources is an oil and gas exploration and production company with key assets in the Denver-Julesburg Basin in Colorado and the Permian Basin in Texas and New Mexico [3]. - The company claimed to have "enhanced recovery potential" and "driven production ahead of plans," while asserting that costs were below expectations [3]. Group 3: Financial Performance and Stock Impact - On February 24, 2025, Civitas announced disappointing Q4 and full year 2024 results, revealing that oil production had peaked and that significant capital would be needed to acquire new land for further production [4]. - Following the announcement, Civitas's stock price dropped over 18%, from $49.30 per share to $40.35 per share [4].

Group 1 - iREIT+HOYA Capital focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1] - The energy sector is highlighted as a favorable area for finding high-yield investment opportunities, despite elevated risks [2] Group 2 - The article emphasizes the importance of a long-term investment horizon for potential substantial benefits in the energy sector [2]

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Civitas Resources, Inc. due to allegations of violations of federal securities laws, particularly concerning misleading statements about the company's oil production and financial condition [3][5]. Group 1: Allegations Against Civitas - The complaint alleges that Civitas was likely to significantly reduce its oil production in 2025 due to declines following a production peak in the DJ Basin in Q4 2024 and a low TIL count at the end of 2024 [5]. - It is claimed that increasing oil production would necessitate acquiring additional acreage and development locations, leading to significant debt and asset sales to offset acquisition costs [5]. - The company's financial condition reportedly required disruptive cost-reduction measures, including a significant workforce reduction [5]. - As a result, Civitas's business and financial prospects, as well as operational capabilities, were overstated, making public statements materially false and misleading [5]. Group 2: Financial Performance and Market Reaction - On February 24, 2025, Civitas reported its Q4 and full-year financial results, missing consensus estimates in revenue and non-GAAP EPS, and announced a 10% workforce reduction [6]. - Following this news, Civitas's stock price fell by $8.95, or 18.2%, closing at $40.35 per share on February 25, 2025, resulting in investor losses [7]. Group 3: Legal Proceedings and Investor Actions - Investors who suffered losses in Civitas are encouraged to contact Faruqi & Faruqi to discuss their legal rights, with a deadline of July 1, 2025, to seek the role of lead plaintiff in the class action [3][9]. - The lead plaintiff is defined as the investor with the largest financial interest in the relief sought, who will oversee the litigation on behalf of the class [8].

Core Viewpoint - A securities class action lawsuit has been filed against Civitas Resources, Inc. for failing to disclose significant operational challenges during the Class Period from February 27, 2024, to February 24, 2025 [1][3]. Group 1: Company Performance - Civitas reported Q4 and full-year 2024 financial results with revenue of $1.29 billion, missing consensus estimates by $3.44 million, and non-GAAP earnings per share of $1.78, missing estimates by $0.21 per share [4]. - The company’s net income for Q4 2024 was $151.1 million, or $1.57 per share, a decline from $302.9 million, or $3.23 per share, in the same quarter the previous year [4]. Group 2: Operational Challenges - The lawsuit claims that Civitas was likely to significantly reduce its oil production in 2025 due to declines after reaching peak production in the DJ Basin in Q4 2024 [3]. - Civitas indicated that increasing oil production would necessitate acquiring additional acreage and implementing disruptive cost-reduction measures [3]. Group 3: Workforce and Management Changes - Civitas announced a 10% reduction in its workforce across all levels as part of its 2025 outlook [5]. - The company terminated its Chief Operating Officer Hodge Walker and Chief Transformation Officer Jerome Kelly [5]. Group 4: Market Reaction - Following the announcement of its financial results and operational outlook, Civitas's stock price fell by $8.95 per share, or 18%, closing at $40.35 per share on February 25, 2025 [6].

Core Viewpoint - A lawsuit has been filed against Civitas Resources, Inc. and its senior executives for potential violations of federal securities laws, specifically under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [1][2]. Company Overview - Civitas Resources, Inc. is an oil and gas exploration and production company with key assets in the Denver-Julesburg Basin in Colorado and the Permian Basin in Texas and New Mexico [3]. Allegations - The complaint alleges that Civitas misrepresented the recovery potential of its basins and claimed to have driven production ahead of plans while asserting reduced operating costs. In reality, the company's oil production peaked in 2024, and further production increases would require significant capital expenditures [3]. Stock Performance - Following the announcement of disappointing Q4 and full year 2024 results on February 24, 2025, Civitas reduced its oil production guidance and announced a 10% workforce reduction. This led to a stock price decline of over 18%, from $49.30 per share to $40.35 per share [4].

Group 1 - The Rosen Law Firm is reminding purchasers of Civitas Resources, Inc. securities from February 27, 2024, to February 24, 2025, about the lead plaintiff deadline of July 1, 2025 [1][2] - Investors who purchased Civitas Resources securities may be entitled to compensation through a contingency fee arrangement, meaning no out-of-pocket fees or costs [1][3] - A class action lawsuit has been filed against Civitas Resources, alleging that the company made materially false and misleading statements regarding its oil production and financial condition [3][4] Group 2 - The lawsuit claims that Civitas was likely to significantly reduce its oil production in 2025 due to declines following a production peak in the DJ Basin and low TIL count at the end of 2024 [3] - It is alleged that increasing oil production would require Civitas to incur significant debt and sell corporate assets, leading to a need for disruptive cost-reduction measures, including workforce reductions [3] - The lawsuit asserts that Civitas' public statements were false and misleading, resulting in damages to investors when the true details became known [3]

Core Viewpoint - A lawsuit has been filed against Civitas Resources, Inc. and its senior executives for potential violations of federal securities laws, specifically under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [1][2]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the District of New Jersey, titled Lin v. Civitas Resources, et al., No. 25-cv-03791 [2]. - Investors have until July 1, 2025, to request to be appointed to lead the case [2]. Group 2: Company Background - Civitas Resources is an oil and gas exploration and production company with key assets in the Denver-Julesburg Basin in Colorado and the Permian Basin in Texas and New Mexico [3]. - The company claimed to have "enhanced recovery potential" and "driven production ahead of plans," while asserting that costs were below expectations [3]. Group 3: Financial Performance and Stock Impact - On February 24, 2025, Civitas announced disappointing Q4 and full year 2024 results, revealing that oil production had peaked and would require significant capital investment to increase production [4]. - Following the announcement, Civitas's stock price fell over 18%, from $49.30 per share to $40.35 per share [4].

Core Viewpoint - Prairie Operating Co. (PROP) and Civitas Resources (CIVI) are two independent energy firms competing in Colorado's DJ Basin, with PROP focusing on aggressive growth through acquisitions and CIVI emphasizing cost discipline and expansion into high-return Permian assets [1][2]. Group 1: Prairie Operating Co. (PROP) - Strategic Growth via Acquisitions: PROP has executed over $800 million in acquisitions since 2023, tripling its scale and adding 54,000 net acres and over 28,000 BOE/d in output [3][4]. - Financial Firepower and Production Growth: Adjusted EBITDA for 2025 is forecasted between $350 million and $370 million, with net income guidance of $69 million to $102 million, and expected production averaging 29,000 to 31,000 BOE/d in 2025, a more than 300% increase year over year [4][5]. - Strategic Hedging Locks in Upside: PROP has hedged about 85% of its 2025 daily production at $68.27/bbl WTI, providing visibility on cash flows and protecting against market volatility, with a hedge book valued at approximately $70 million [5]. Group 2: Civitas Resources (CIVI) - Cost Optimization and Cash Flow Strength: CIVI is targeting $100 million in additional annual free cash flow through a company-wide cost optimization plan, expecting to generate $1.3 billion in free cash flow in 2024 and $1.1 billion in 2025 [6]. - Focused Permian Expansion: CIVI has shifted 40% of its capital activity to the Delaware Basin, which has shown the highest returns, with operational gains reflected in faster drilling rates and enhanced capital efficiency [7]. - Robust Balance Sheet and Hedging Strategy: CIVI aims to achieve a $4.5 billion net debt target by year-end 2025, with nearly $200 million in hedge value secured, insulating free cash flow against oil price volatility [8]. Group 3: Price Performance and Valuation - Price Performance: Both PROP and CIVI have seen significant declines over the past year, with PROP down 71% and CIVI down 61%, attributed to weak oil prices and macro concerns [10]. - Valuation Comparison: PROP trades at 0.27X forward sales, significantly lower than CIVI's 0.56X, indicating a potential undervaluation [13]. - EPS Estimates: PROP's earnings are projected to surge by 382.9% in 2025, while CIVI's EPS is expected to fall by 29.3% in the same year, highlighting PROP's stronger growth trajectory [14][16]. Group 4: Conclusion - Both PROP and CIVI carry a Zacks Rank 3 (Hold), with CIVI offering strong free cash flow and disciplined cost control, while PROP presents exciting growth potential and an improving cash flow profile, positioning PROP slightly better at this moment [19].