Deal Insight
Civitas acquires privately held DJ Basin operator Crestone Peak Resources
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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
Civitas Resources is continuing to consolidate the DJ Basin, with the US$1.06 billion all-stock acquisition of Crestone Peak Resources. Civitas Resources was formed in late May 2021 through the combination of Bonanza Creek Energy and Extraction Oil & Gas. That deal is still expected to close in the third quarter of 2021. To Civitas' portfolio, Crestone will add 120,000 net acres and nearly 45,000 boe/d (~53% oil) of production across Adams, Arapahoe and Weld counties in Colorado.
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 1Executive summary: Table 2Civitas and Crestone acreage
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Upstream assets: Table 1Deal analysis: Table 1Average CUM180 total per lateral lengthDeal analysis: Table 2Deal analysis: Table 3Deal analysis: Table 4Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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