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Bonanza Creek and Extraction to Combine in Merger of

Bonanza Creek and Extraction to Combine in Merger of Equals, Creating Civitas Resources – a New Colorado Energy Leader and the State’s First Net-Zero Oil & Gas Producer May 10, 2021 08:05 ET | Source: Bonanza Creek Energy, Inc. Bonanza Creek Energy, Inc. Denver, Colorado, UNITED STATES DENVER, May 10, 2021 (GLOBE NEWSWIRE) Bonanza Creek Energy, Inc. (NYSE: BCEI) (“Bonanza Creek”) and Extraction Oil & Gas, Inc. (NASDAQ: XOG) (“Extraction”), today announced that they have entered into a definitive agreement to combine in an all-stock merger of equals. The combined company, to be named Civitas Resources, Inc. (“Civitas”), will be the largest pure-play energy producer in Colorado’s Denver-Julesburg (DJ) Basin, with an aggregate enterprise value of approximately $2.6 billion (based on the closing share prices of Bonanza Creek and Extraction on May 7, 2021).

United statesRocky mountainWeld countyBonanza creekTom tyreeMarianella foschiSandi garbisoMatt owensBen dellBrian cainEric greagerScott landrethJohn wrenPetrie partners securitiesCivitas resources incJp morgan securities

Bonanza Creek and Extraction to Combine in Merger of Equals, Creating Civitas Resources - An new Colorado Energy Leader and the State s First Net-Zero Oil & Gas Producer

DENVER, May 10, 2021 /PRNewswire/ Bonanza Creek Energy, Inc. (NYSE: BCEI) (“Bonanza Creek”) and Extraction Oil & Gas, Inc. (NASDAQ: XOG) (“Extraction”), today announced that they have entered into a definitive agreement to combine in an all-stock merger of equals. The combined company, to be named Civitas Resources, Inc. (“Civitas”), will be the largest pure-play energy producer in Colorado’s Denver-Julesburg (DJ) Basin, with an aggregate enterprise value of approximately $2.6 billion (based on the closing share prices of Bonanza Creek and Extraction on May 7, 2021). TRANSACTION HIGHLIGHTS The merger will create a leading energy producer in Colorado’s DJ Basin, a basin characterized by low operating costs, extensive infrastructure, ample takeaway, multiple producing horizons and responsible energy production.

United statesRocky mountainWeld countyBonanza creekTom tyreeMarianella foschiSandi garbisoMatt owensBen dellBrian cainEric greagerScott landrethJohn wrenPetrie partners securitiesCivitas resources incJp morgan securities

Bonanza, Extraction Combo Seeking to Become Colorado s First Oil, Natural Gas Net-Zero Producer

Bonanza, Extraction Combo Seeking to Become Colorado s First Oil, Natural Gas Net-Zero Producer
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Bonanza Creek and Extraction to Combine in Merger of Equals, Creating Civitas Resources – a New

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United statesRocky mountainWeld countyBonanza creekTom tyreeMarianella foschiSandi garbisoMatt owensBen dellBrian cainEric greagerScott landrethJohn wrenPetrie partners securitiesCivitas resources incJp morgan securities

Bonanza Creek and Extraction to Combine in Merger of Equals, Creating Civitas Resources – a New Colorado Energy Leader and the State s First Net-Zero Oil & Gas Producer - CaymanMama com

Bonanza Creek and Extraction to Combine in Merger of Equals, Creating Civitas Resources â a New Colorado Energy Leader and the Stateâs First Net-Zero Oil & Gas Producer DENVER, May 10, 2021 (GLOBE NEWSWIRE) Bonanza Creek Energy, Inc. (NYSE: BCEI) (âBonanza Creekâ) and Extraction Oil & Gas, Inc. (NASDAQ: XOG) (âExtractionâ), today announced that they have entered into a definitive agreement to combine in an all-stock merger of equals. The combined company, to be named Civitas Resources, Inc. (âCivitasâ), will be the largest pure-play energy producer in Coloradoâs Denver-Julesburg (DJ) Basin, with an aggregate enterprise value of approximately $2.6 billion (based on the closing share prices of Bonanza Creek and Extraction on May 7, 2021).

United statesRocky mountainWeld countyBonanza creekTom tyreeMarianella foschiSandi garbisoMatt owensBen dellBrian cainEric greagerScott landrethJohn wrenPetrie partners securitiesCivitas resources incJp morgan securities

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