SM Energy And Civitas Resources Obtain Stockholders' Approval For The Previously Announced All-Stock Merger

M Energy Company (NYSE:SM) ("SM Energy") and Civitas Resources, Inc. ("Civitas") (NYSE:CIVI) today announced that the stockholders of both companies voted in favor of all proposals necessary for the closing of the companies' previously announced all-stock merger. The merger is expected to close on January 30, 2026, subject to satisfaction of other customary closing conditions. The combined company will trade as SM Energy. 

At the special meeting of SM Energy stockholders held earlier today, approximately 76.5 percent of the outstanding shares of SM Energy common stock were represented. Of the shares present or represented, approximately 99.1 percent voted to approve the issuance of SM Energy common stock to Civitas stockholders and approximately 98.6 percent voted to approve an amendment to SM Energy's Restated Certificate of Incorporation in order to increase the number of authorized shares. 

At today's special meeting of Civitas stockholders, approximately 82.9 percent of the outstanding shares of Civitas common stock were represented, of which approximately 97.7 percent voted to adopt the merger agreement.  

SM Energy and Civitas will each file final voting results for their respective special meetings on a Form 8-K with the U.S. Securities and Exchange Commission (the "SEC").

SM Energy Chief Executive Officer Herb Vogel commented: "We are delighted with the strong endorsement of this transformative merger by our stockholders. This combination brings together two highly complementary organizations to create a leading oil and gas company with enhanced scale and top-tier assets. Our team is focused on generating significant free cash flow and delivering superior, long-term value for our stockholders."