Private Equity | Capital Markets | People - New Hire

Former Primexx CEO Takes Helm of Civitas Resources

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Civitas Resources, Inc. has named Chris Doyle its next President and Chief Executive Officer, effective May 2, 2022.

About Doyle:

Mr. Doyle has over 25 years of domestic and international experience in Exploration and Production and Midstream Gathering and Processing - having set the foundation for his career with over two decades at Anadarko Petroleum and Chesapeake Energy. He joins Civitas after serving as President and CEO of Primexx Energy Partners and leading a comprehensive transformation of the privately held Delaware Basin company. From 2016 to 2020, Mr. Doyle served as President and CEO of Olympus Energy, a privately held energy company with upstream and midstream assets in the Appalachian Basin. At both companies, Mr. Doyle helped create a culture anchored on operational excellence, accountability, transparency, and leading ESG performance.

Ben Dell, Civitas Chairman and interim CEO, said: "I am very pleased to welcome Chris to Civitas. The Board of Directors and I believe that his experience, judgment, and perspective will be instrumental as we continue to thoughtfully grow the Civitas platform with a clear objective of becoming a national leader among peers, while advancing the principles of the new E&P business model. At Civitas, we have always embraced bold ambitions, and under Chris' leadership, we will continue working tirelessly to create compelling value for all stakeholders."

Mr. Doyle said: "I have admired Civitas' rapid emergence as a leader in the E&P space as it focused on strengthening alignment with shareholders, generating significant free cash, and leading responsible energy development in Colorado as the state's first carbon neutral energy producer. I am particularly excited to join the Company at this stage of its evolution and growth trajectory, and I look forward to working closely with the entire Civitas team and all of our stakeholders to create lasting value."

Civitas initiated a national search for its next CEO in February of this year. The search committee, comprised of members of its Board of Directors and advised by an executive search firm, sought to identify a new CEO who would further the Company's core principles of executing on its prudent reinvestment strategy, returning meaningful cash to shareholders while maintaining a peer-leading balance sheet, realizing value creation via consolidation, and exhibiting continued ESG leadership. Following an extensive process, the Board unanimously agreed that Mr. Doyle was the right leader to help Civitas meet its significant potential.