oil and gas producer civitas resources inc agreed to acquire privately held denverjulesburg basin operator bison oil  gas ii llc for about 346 million the consideration consists of 23 million civitas shares 45 million in cash and the assumption of about 176 million in debt and other liabilities civitas said it expects the deal to close in the first quarter of 2022 the company said the transaction strengthen civitas portfolio by adding 102 gross locations of which 38 are fully permitted the deal enhances civitas margins with 2022 pro forma production increase of about 9000 barrels of oil equivalent a day composed of 75 oil and 90 liquids the company said civitas said the deal will also boost its net asset value 2022 production and 2022 earnings before interest taxes depreciation and amortization and will boost free cash flow beginning in 2023