LLOG Exploration Company LLC
01/22/2026 | Press release | Archived content
Civitas CEO’s Cash Payout Doubled Post-Signing SM Merger Deal
ExpandCivitas operates wells across the Permian and Denver-Julesburg basins. (Shutterstock)
January 22, 2026 11:57 AM CST
Key Takeaways
- The merger is scheduled for a shareholder vote Jan. 27.
- Wouter Van Kempen, who had been Civitas' chairman, took over as CEO upon terminating CEO Chris Doyle, who was already working on merger offers.
- The $9 million is twice the cash payout Doyle would have received.
- SM Energy will have C-suite and board control of the post-merged E&P.
Civitas Resources hiked C-suite severance bonuses after signing a merger agreement with SM Energy, a KeyBanc Capital Markets analyst found in a Securities and Exchange Commission (SEC) filing.
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LLOG Exploration Company LLC published this content on January 22, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on February 07, 2026 at 00:19 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]