SM Energy to Buy Civitas in $12.8B All-Stock Deal

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Energy Megadeal Signals Renewed M&A Momentum

The SM Energy–Civitas merger signals a fresh wave of consolidation in the U.S. oil and gas sector, as companies seek scale, efficiency, and resilience amid fluctuating commodity prices and global uncertainty.

If completed, the transaction will mark one of the largest shale mergers in recent years, positioning the combined company as a formidable force in American energy independence — one built to thrive through every boom and bust cycle.