06:11 AM EDT, 10/09/2025 (MT Newswires) -- Civitas Resources ( CIVI ) is in talks to merge with Permian Basin rival SM Energy ( SM ) for a potential merger of equals, Bloomberg reported late Wednesday, citing sources familiar with the matter.

There would be no premium included in the deal, the report said.

No deal has been finalized and other parties are circling Civitas, the report said.

If completed, the combined company would be valued at more than $14 billion, including debt, the report added.

Civitas and SM Energy ( SM ) did not immediately respond to MT Newswires' request for comment.

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