Civitas Postpones Fourth Quarter 2021 Earnings Release Date and Conference Call

DENVER–(BUSINESS WIRE)–Civitas Resources, Inc. (NYSE: CIVI) (“Civitas” or the “Company”) is now scheduled to report its fourth quarter 2021 operating and financial results after market close on Tuesday, March 8, 2022. The Company will hold a conference call to discuss those results the following morning, Wednesday, March 9, at 8:00 a.m. Mountain Time (10:00 a.m. EST). A live webcast of this event will be available in the Investor Relations section of the Company’s website at www.civitasresources.com. The login information for the conference call is included below.

Type

Call number

Access code

Live Participant

(888) 510-2535

4872770

Replay

(800) 770-2030

4872770

About Civitas Resources, Inc.

Civitas Resources, Inc. is Colorado’s premier carbon-neutral oil and gas producer and focuses on the development and production of crude oil, natural gas and natural gas liquids in Colorado’s Denver-Julesburg Basin. The Company is committed to pursuing compelling economic returns and cash flow while providing best-in-class cost leadership and capital efficiency. Civitas is dedicated to safety, environmental responsibility and implementing industry best practices to create positive local impact. For more information about Civitas, please visit www.civitasresources.com.

Forward-Looking Statements and Cautions

Certain statements contained in this press release regarding the credit facility, results, effects, benefits and synergies of the transaction, future opportunities for Civitas, future financial performance and conditions, guidance and any other statements regarding Civitas’ expectations, beliefs, plans, future goals, financial conditions, assumptions, or future events or performance that are not historical facts are “forward-looking” statements based on assumptions currently believed to be valid. Forward-looking statements are all statements other than statements of historical fact. The words “anticipate”, “believe”, “assure”, “expect”, “if”, “intend”, “estimate”, “probable”, “project”, “expect”, “predict “, “outlook”, “aim”, “will”, “could”, “should”, “would”, “potential”, “may”, “might”, “anticipate”, “probable”, “plan”, “positioned”, “strategy”, ” and similar expressions or other words of similar meaning, together with their negatives, are intended to identify forward-looking statements. Specific forward-looking statements include statements regarding Civitas’ plans and expectations regarding the transactions and the anticipated impact of the transactions on Civitas’ results of operations, financial condition, growth opportunities and competitive position. Forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act 1995. .

These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated, including, but not limited to, potential adverse reactions or changes in business or employee relationships. , including those resulting from the completion of the transaction; diversion of management time on transaction-related matters; the timing, results and ultimate outcomes of the integration of Civitas legacy operations; changes in capital markets and Civitas’ ability to fund operations as expected; commodity price effects; the risks of oil and gas activities; and the fact that operating costs and business disruption may be greater than expected following the public announcement or completion of the Transactions. In addition, risks and uncertainties that could cause actual results to differ materially from those anticipated also include general economic conditions, whether internationally, nationally or in the regional and local markets in which we operate; the effects of the disruption of our operations or the oversupply of oil and natural gas due to the COVID-19 pandemic and the actions of certain oil and natural gas producing countries; the extent, duration and severity of the COVID-19 pandemic, including any recurrence, as well as the timing of economic recovery from the pandemic; the ability of our customers to fulfill their obligations to us; our ability to generate sufficient cash flow from operations, borrowings or other sources to allow us to fully develop our undeveloped acreage positions; the presence or ability to recover estimated oil and natural gas reserves and actual future sales volume rates and associated costs; uncertainties associated with estimates of proven oil and gas reserves; the assumptions underlying the forecast, including production forecasts, well costs, capital expenditures, rates of return, expenses, cash flows and cash flows from oil purchases and sales and gas; the possibility that the industry may be subject to future local, state and federal regulatory or legislative actions (including additional taxes and changes in environmental regulations); environmental risks; seasonal weather conditions; drilling and operating risks, including risks associated with the use of horizontal drilling and completion techniques; our ability to acquire adequate water supplies for drilling and completions operations; the availability of oilfield equipment, services and personnel; exploration and development risks; competition in the oil and natural gas industry; our ability to provide adequate processing capacity for the natural gas we produce, provide adequate transportation for the oil, natural gas and natural gas liquids we produce, and sell the oil, natural gas and liquids natural gas at market prices; continued hostilities in the Middle East, South America and other sustained military campaigns or acts of terrorism or sabotage; and other economic, competitive, governmental, legislative, regulatory, geopolitical and technological factors that may adversely impact our business, operations or prices. Expectations regarding business prospects, including changes in revenues, prices, capital expenditures, cash flow generation, strategies for our operations, oil and natural gas market conditions, legal conditions , economic and regulatory and environmental issues are only predictions regarding these issues.

Additional information regarding other risk factors is also contained in Civitas’ latest annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and other filings. by the Securities and Exchange Commission (“SEC”). . Additional information regarding Civitas, Extraction and Crestone Peak, the transactions and the risks associated with the transactions may be found in the registration statement on Form S-4 filed by Bonanza Creek, registration number 333-257882, which was declared effective by the SEC. September 28, 2021. Civitas undertakes no obligation to publicly update these statements, except as required by law.

Michael P. Boser