Civitas Comments on Lowry Ranch CAP Approval

Civitas Resources, Inc. (NYSE: CIVI) (“Civitas” or the “Company”), today announced that it has received approval by Colorado’s Energy and Carbon Management Commission of the Lowry Ranch Comprehensive Area Plan (“CAP”) within the Watkins area of the DJ Basin.

Hodge Walker, Chief Operating Officer, commented in response, “This CAP approval is the result of thorough work by the Civitas team and extensive stakeholder engagement to ensure the safe development of Colorado’s important natural resources, while protecting the environment and minimizing impacts to our communities. Watkins is a prolific development area within the DJ Basin, and we look forward to beginning drilling in the Lowry Ranch area next year.”

Cautionary Statement Regarding Forward-Looking Information

Certain statements in this press release concerning future opportunities for Civitas and any other statements regarding Civitas’ future expectations, beliefs, plans, objectives, financial conditions, returns to shareholders, 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 facts. The words “anticipate,” “believe,” “ensure,” “expect,” “if,” “intend,” “estimate,” “probable,” “project,” “forecasts,” “predict,” “outlook,” “aim,” “will,” “could,” “should,” “would,” “potential,” “may,” “might,” “anticipate,” “likely,” “plan,” “positioned,” “strategy,” and similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify forward-looking statements. Specific forward-looking statements included in this press release include statements regarding the Company’s anticipated drilling timeline in the Lowry CAP. The 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 of 1995.

We caution you that forward-looking statements are subject to significant risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. Factors that could cause actual results to differ materially from those anticipated include, but are not limited to, the risks described under the “Risk Factors” and “Management’s Discussion and Analysis” sections of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company’s subsequently filed Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings made with the Securities and Exchange Commission.

All forward-looking statements speak only as of the date they are made and are based on information available at the time they were made. The Company assumes no obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.

About Civitas

Civitas Resources, Inc. is an independent exploration and production company focused on the acquisition, development, and production of crude oil and liquids-rich natural gas from its premier assets in the DJ Basin in Colorado and the Permian Basin in Texas and New Mexico. Civitas’ proven business model to maximize shareholder returns is focused on four key strategic pillars: generating significant free cash flow, maintaining a premier balance sheet, returning capital to shareholders, and demonstrating ESG leadership. For more information about Civitas, please visit www.civitasresources.com.

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