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☆ The wife of Supreme Court Justice Samuel Alito leased a plot of land to an oil and natural gas company while the judge was weakening the powers of the Environmental Protection Agency, report says
▼ + stars: | 2023-06-26 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

In June 2022, Justice Samuel Alito's wife leased a plot of land in Oklahoma to an oil and gas company. Alito in several rulings before the court has been part of majority decisions to reduce the scope of the EPA. There are thousands of oil and gas leases across Oklahoma, where the energy sector is a critical economic driver. But the oil and gas lease troubles many environmentalists given Justice Alito's role in weakening the scope of the Environmental Protection Agency in several cases that have come before the court. And last year, the Supreme Court in West Virginia v. Environmental Protection Agency limited the federal agency's ability to control the level of carbon emissions from power plants.

Persons: Samuel Alito's, Alito, —, Samuel Alito, Martha Ann Bomgardner Alito, Alito's, Jeff Hauser, Paul Thomas Anderson, Joe Biden Organizations: EPA, Service, Citizen Energy III, Energy III, Environmental Protection Agency Locations: Oklahoma, Sackett v, West Virginia

June 20 (Reuters) - Civitas Resources (CIVI.N) said on Tuesday it would acquire oil and gas operations in the Permian basin managed by private equity firm NGP Energy Capital Management for $4.7 billion, expanding its operations into the lucrative shale patch. The deal is transformative for Civitas, which until now operated solely in Colorado's Denver-Julesburg (DJ) basin. Under the terms, Civitas has agreed to purchase a portion of Tap Rock Resources' assets and all of Hibernia Energy III's operations. "Simply put, these transactions make Civitas a better company, and we see tremendous opportunity to add value in the Permian that will complement our leading oil position in the DJ basin," Civitas Chief Executive Chris Doyle told analysts. News of the deal, which Reuters was first to report on Monday, sent Civitas' shares 8% lower.

Persons: Civitas, Chris Doyle, Ben Dell, David French, Mrinalika Roy, Shilpi Majumdar, Emelia Organizations: Civitas Resources, NGP Energy Capital Management, Rock Resources, Hibernia Energy, Reuters, Thomson Locations: Colorado's Denver, U.S, Rock, DJ, Texas, New Mexico, Denver, New York, Bengaluru

☆ Civitas Resources shells out $4.7 billion for Permian assets
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +2 min

June 20 (Reuters) - Civitas Resources (CIVI.N) said on Tuesday it would acquire oil and gas operations in the Permian Basin managed by private equity firm NGP Energy Capital Management for $4.7 billion, expanding its operations into the lucrative shale patch. Under the terms of the transactions, Civitas has agreed to purchase a portion of Tap Rock Resources' Delaware Basin assets and all of Hibernia Energy III's Midland Basin assets. Both Tap Rock and Hibernia are portfolio companies of funds managed by NGP. Reuters was the first to report that Civitas was in advanced talks with NGP to buy the Permian Basin-focused assets. Plenty of tier-1 acreage still available, indicating shale oil production will grow through to the end of this decade, HSBC analysts wrote in a June 20 note.

Persons: Civitas, NGP, Chris Doyle, Mrinalika Roy, Shilpi Majumdar Organizations: Civitas Resources, NGP Energy Capital Management, Rock Resources, Hibernia Energy, Midland, NGP, Reuters, Civitas, HSBC, Thomson Locations: Rock, Delaware, Hibernia, Texas, New Mexico, Denver, Bengaluru

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