Gabe Daoud's questions to Civitas Resources Inc (CIVI) leadership • Q3 2024
Question
Gabe Daoud's representative asked about the expected production decline profile in the first half of 2025 and the activity required to maintain flat year-over-year volumes. A follow-up question concerned the company's current thinking on M&A.
Answer
CEO M. Doyle explained that with low Q4 turn-in-lines, production will decline into Q1 2025 before activity picks up mid-quarter. Regarding M&A, he stated the hurdle to use the company's undervalued equity is 'very, very high,' and the current focus is on small, bolt-on 'ground game' acquisitions rather than large-scale transactions.