Kirkland Advises Civitas on $435 Million of Asset Sales

Kirkland & Ellis advised Civitas Resources, Inc. (NYSE: CIVI) on the divestment of $435 million of non-core DJ Basin assets, significantly exceeding the company’s full-year 2025 asset sales target. Proceeds from the transactions, which are expected to close around the end of the third quarter 2025, are expected to be allocated to debt reduction. The asset sale includes two agreements, which represent an estimated EBITDAX multiple of over 4x based on 2026 estimated production and pricing.

Read the transaction press release

The Kirkland team included real asset transactions lawyers Lindsey Jaquillard, Thomas Laughlin, Matt Gibson, Patrick Lingwall, Clayton Hart, Shelby Velasquez, Tyler Ciavarra and Rachel Miller; tax lawyers Mark Dundon and Jacob Walley; and environmental transactions lawyers Jonathan E. Kidwell and Max Anderson.