Bonanza Creek Rebrands as Civitas Following Closing of Back-to-back Acquisitions

Bonanza Creek Energy laid out plans to form Civitas Resources earlier this year through the consolidation of fellow D-J Basin operators, first the all-stock merger with Extraction Oil & Gas and later Crestone Peak.

Hart Energy Staff
Bonanza Creek Rebrands as Civitas Following Closing of Back-to-back Acquisitions

Upon closing, Civitas Resources became the largest pure-play energy producer in Colorado’s D-J Basin, operating across more than half a million net acres with an enterprise value of $4.5 billion.  (Source: Civitas Resources Inc.)

Bonanza Creek Energy Inc. has officially rebranded as Civitas Resources Inc. following the recent closing of Bonanza Creek’s merger with Extraction Oil & Gas Inc. and subsequent acquisition of Crestone Peak Resources.

“Civitas embodies an E&P model that is poised to deliver value for all of our stakeholders through disciplined capital deployment, operational and cost excellence, and governance standards aligned with the highest expectations—including our status as Colorado’s first carbon-neutral oil and gas producer,” commented Ben Dell, chairman of Civitas, in a company release on Nov. 1.
 
Earlier this year, Bonanza Creek laid out plans to form Civitas Resources—“to exemplify the new E&P business model for U.S. producers”—through the consolidation of fellow Denver-Julesburg (D-J) Basin operators, first with its all-stock merger agreement with Extraction Oil & Gas and later Crestone Peak.

Already have an account? Log In

Sign up for FREE access to view this article now!

Unlock Free Access