SM Energy Closes All-Stock Merger With Civitas Resources

Devon Energy to Merge with Coterra Energy in $21.4B All-Stock Deal

January 31, 2026

Oil & Gas

Devon Energy and Coterra Energy have signed a definitive all-stock agreement to merge, creating a premier Delaware Basin–anchored shale operator. The deal will exchange 0.70 shares of Devon common stock for each share of Coterra, and is expected to close in the second quarter of 2026 subject to regulatory and shareholder approvals.

Crescent Energy Acquires Vital Energy in All-Stock Merger

December 15, 2025

Energy

Crescent Energy Company acquired Vital Energy, Inc. in an all-stock transaction valued at approximately $3.1 billion, including Vital’s net debt. The deal was expected to close in December 2025 and was later announced as having closed, creating a top-10 independent E&P company.

Blackstone Acquires Civica from Partners Group

November 22, 2023

Software

Blackstone has entered into a definitive agreement (closed May 2, 2024) to acquire Civica, a global leader in public‑sector software, from Partners Group. The buyout will support Civica's next phase of growth and global expansion across government, health and education markets; financial terms were not disclosed.

Civitas Resources Closes Acquisition of Bison Oil & Gas II (DJ Basin)

March 1, 2022

Energy

Civitas Resources, Inc. closed its previously announced acquisition of privately held Bison Oil & Gas II, LLC, the Denver-Julesburg Basin operator. The deal adds 102 gross locations and is intended to strengthen Civitas’ DJ Basin portfolio under its net zero policy, with approximately $300 million in total cash outlay after modifying consideration from the originally announced structure.

Bonanza Creek and Extraction Merge and Acquire Crestone Peak; Rebrand as Civitas Resources

November 1, 2021

Oil & Gas

Bonanza Creek Energy and Extraction Oil & Gas completed their merger and subsequently acquired Crestone Peak Resources, rebranding the combined company as Civitas Resources (NYSE: CIVI). The transaction creates the largest pure‑play energy producer in Colorado's Denver‑Julesburg (DJ) Basin, with a stated focus on operational discipline, free cash flow generation and ESG leadership.

Francisco Partners Leads Growth Investment in Civitas Learning

February 20, 2019

Education

Francisco Partners has made a growth equity investment in Austin-based Civitas Learning, joined by existing investors Rethink Education, SJF Ventures, and Lumina Foundation. Civitas Learning provides a cloud-based Student Success Suite that uses data science and machine learning to help more than 350 colleges and universities improve student outcomes; the capital will be used to accelerate product development and expand adoption across higher education.