Deal Insight
Bonanza Creek Energy and Extraction Oil & Gas merge
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Bonanza Creek Energy (BCEI) is combining with Extraction Oil & Gas (XOG) to form Civitas in an all-stock merger with an enterprise value of US$2.6 billion. Based on our 2021 production estimates, Civitas will be the third-largest producer in the DJ Basin with a combined volume of 117 mboe/d (40% oil). It is also committed to becoming Colorado's first net-zero (Scope 1 & 2) oil and gas producer at closing.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Bonanza Creek, Extraction acreageEast Wattenberg geology
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West Wattenberg geologyAverage Cum 365 total per later lengthOil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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