10 High Growth Energy Stocks To Invest In

3. Civitas Resources Inc. (NYSE:CIVI)

5-Year Revenue CAGR: 75.85%

Number of Hedge Fund Holders: 48

Civitas Resources Inc. (NYSE:CIVI) is an independent oil and natural gas producer focused on the Denver-Julesburg (DJ) Basin in Colorado and the Permian Basin in Texas and New Mexico. The company stands out as Colorado’s first carbon-neutral oil and gas producer. Civitas Resources Inc. (NYSE:CIVI) is one of the top high-growth stocks in the energy sector.

In the third quarter of 2024, the company reported capital expenditures of $438 million, driven by increased efficiency in drilling and completion activities. During this period, Civitas Resources Inc. (NYSE:CIVI) successfully drilled 26, completed 19, and turned to sales 30 gross operated wells in the Permian Basin. In the DJ Basin, the company drilled 14, completed 29, and turned to sales 40 operated wells.

The company also reported that year-to-date, it has expanded its portfolio by adding over 75 gross locations in the Delaware and Midland Basins through strategic ground game transactions. These developments demonstrate Civitas Resources Inc.’s (NYSE:CIVI) ability to enhance production while managing costs effectively.

Civitas Resources Inc.’s (NYSE:CIVI) operational success is reflected in its production numbers. The company anticipates a 3% increase in oil volumes for the fourth quarter compared to Q3, with October production averaging 165 MBbl/d. Notably, the Blue 4AH well in the DJ Basin set a state record by producing 165 thousand barrels of oil within its first 90 days. With a focus on growth and efficient operations, Civitas Resources Inc. (NYSE:CIVI) presents an appealing option for investors looking for a solid energy stock.