Item 1.01 Entry into a Material Definitive Agreement.

First Amendment to Amended and Restated Company Credit Agreement

On December 21, 2021, Civitas Resources, Inc., a Delaware corporation (the "Company") entered into a First Amendment to Amended and Restated Credit Agreement (the "First Amendment"), among the Company, the guarantors party thereto (the "Guarantors"), the lenders party thereto and JPMorgan Chase Bank, N.A., as the administrative agent (the "Administrative Agent"), which First Amendment amends the terms of that certain Amended and Restated Credit Agreement, dated as of November 1, 2021 (the "Credit Agreement") among the Company, the Guarantors, each lender from time to time party thereto and the Administrative Agent, having an Aggregate Maximum Credit Amount (as defined in the Credit Agreement) of $2.0 billion.

Pursuant to the First Amendment, the parties have agreed that the minimum hedging covenant with respect to projected oil and gas production will not apply if the Company's leverage ratio is less than 1.00:1 as of the applicable quarterly test date, until the next such test date.

The foregoing description of the First Amendment is a summary only, does not purport to be complete, and is qualified in its entirety by reference to the full text of the First Amendment, which is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference into this Item 1.01.




Item 9.01  Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.                Description
  10.1*                      First Amendment to Amended and Restated Credit Agreement, among Civitas
                           Resources, Inc., the guarantors party thereto, the lenders party thereto
                           and JPMorgan Chase Bank, N.A., as the administrative agent.
104                        Cover Page Interactive Data File (formatted as Inline XBRL)


* Filed herewith
                                       2

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses