Deal Insight
Civitas acquires privately held DJ Basin operator Crestone Peak Resources
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 11 images and tables including:
- Executive summary: Table 1
- Executive summary: Table 2
- Civitas and Crestone acreage
- Upstream assets: Table 1
- Deal analysis: Table 1
- Average CUM180 total per lateral length
- Deal analysis: Table 2
- Deal analysis: Table 3
- Deal analysis: Table 4
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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