Oil and gas producer Civitas Resources is exploring a sale of part or all of its assets in the Denver-Julesburg Basin (DJ Basin) in Colorado, which could be valued at more than $4 billion, Bloomberg News reported on Wednesday.
Civitas operates across the Permian and DJ basins in the United States. Its average daily production in the Colorado basin stands at about 169,000 barrel of oil equivalent (boe).
The company is working with a financial adviser to gauge buyer interest and would be open to divesting fully from the basin if it receives a sufficiently attractive offer, the Bloomberg report said, citing people familiar with the matter.
Civitas did not immediately respond to a Reuters request for comment.
(Reporting by Pooja Menon in Bengaluru; Editing by Shilpi Majumdar)