Benzinga | May 10, 2021 08:20AM EDT

Bonanza Creek Energy, Inc. And Extraction Oil & Gas, Inc. Announce All-Stock Merger Of Equals With Aggregate Enterprise Value Of ~$2.6B

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).