Overview

A class action lawsuit has been filed against Civitas Resources, Inc. (“Civitas” or the “Company”) and certain of the Company’s senior executive officers (collectively, “Defendants”) alleging violations of the federal securities laws. The Company’s common stock trades in an efficient market on the New York Stock Exchange under the ticker symbol “CIVI.”

The Civitas class action lawsuit was brought on behalf of all persons and entities who purchased or otherwise acquired Civitas securities between February 27, 2024, and February 24, 2025, both dates inclusive (the “Class Period”).

Civitas is an independent exploration and production company focused on the acquisition, development, and production of crude oil and liquids-rich natural gas from its assets in the Denver-Julesburg (“DJ”) Basin in Colorado and the Permian Basin in Texas and New Mexico. As of December 31, 2024, the Company owned a working interest in a net total of 530,200 acres.

Civitas recognizes revenue from the sale of produced crude oil, natural gas, and natural gas liquids (“NGL”). Accordingly, maintaining high volumes of oil production is critical to the Company achieving revenue growth. Throughout 2024, Civitas maintained steady oil production and accelerated the number of the Company’s turned-in-lines (“TILs”)—i.e., newly drilled oil wells that have been designated as operational and added to the total number of wells in which Civitas owns a working interest—between the DJ and Permian Basins. Unbeknownst to investors, however, oil production in the DJ Basin peaked in the fourth quarter (“Q4”) of 2024 and, during the same period, Civitas began reducing the pace in which it turned in new lines.

The Civitas class action lawsuit alleges that Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects throughout the Class Period. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Civitas was highly likely to significantly reduce its oil production in 2025 because of declines following the production peak at the DJ Basin in Q4 of 2024 and a low TIL count at the end of 2024; (2) increasing its oil production would require the Company to acquire additional acreage and development locations, thereby incurring significant debt and causing the Company to sell corporate assets to offset its acquisition costs; (3) the Company’s financial condition would require it to implement disruptive cost-reduction measures including a significant workforce reduction; (4) accordingly, Civitas’s business and/or financial prospects, as well as its operational capabilities, were overstated; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.

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If you purchased or otherwise acquired Civitas securities between February 27, 2024, and February 24, 2025, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as lead plaintiff in the Civitas class action lawsuit is July 1, 2025.