On the 20th of June, Civitas Resources announced an agreement to acquire oil-producing assets of Hibernia and Tap Rock in the Midland and Delaware Basins for $4.7 billion, almost doubling the company’s market cap., The company is acquiring assets of Hibernia Energy III and Tap Rock Resources, both portfolio companies managed by NGP Energy Capital Management., The obligations of the parties to complete the transactions contemplated by the Hibernia Acquisition Agreement (collectively, the “Hibernia Acquisition”) are subject to the satisfaction or waiver of customary closing conditions set forth in the Hibernia Acquisition Agreement., Civitas announced Tuesday that it will acquire both Hibernia Energy III and Tap Rock Resources from private equity sponsor NGP for $2.25 billion and $2.45 billion, respectively. The, Denver-based Civitas Resources has signed two definitive agreements to acquire oil-producing assets in the Midland and Delaware basins of west Texas and New Mexico from affiliates of Hibernia Energy III LLC and Tap Rock Resources LLC for $4.7 billion., Civitas will expand into the Permian Basin with acquisitions from Hibernia Energy III and Tap Rock Resources, companies backed by private-equity firm NGP Energy Capital Management.