Three Times Charmed: Bonanza Creek Continues D-J Basin Consolidation With Crestone Peak Deal

摘要

BONANZA CREEK ENERGY Inc. agreed on June 7 to acquire privately held Crestone Peak Resources LLC in an all-stock merger transaction, tacking on another acquisition in the Denver-Julesburg (D-J) Basin. The acquisition—Bonanza Creek's third so far this year—represents the company's strategy to position itself as the modern-day E&P business model, according to president and CEO Eric Greager. The initiative is tied to the formation of Civi-tas Resources Inc., which will be formed upon closing of its merger with Extraction Oil & Gas Inc. announced in May.