** Shares of U.S.-based oil and gas producer Civitas Resources CIVI.N rise 1.8% to $54.54
** Company is exploring a sale of some or all of its assets in the Denver-Julesburg Basin, which could be valued at more than $4 bln, Bloomberg News reports
** CIVI is working with a financial adviser to gauge buyer interest in the assets and would be open to divesting fully from the Colorado basin if it receives an attractive offer
** "A potential sale would remove the market/investor stigma associated with Colorado, which is weighing on the valuation, and turn CIVI into a pure-play Permian company" says Gabriele Sorbara, analyst at Siebert Williams Shank
** Adds that valuation of $4 billion is reasonable, but the company will be shrinking in scale which might not be well received by the market
** Stock was down 28.6% in 2024
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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