On 11 November 2017, SandRidge Energy announced that it will acquire Bonanza Creek. SandRidge will acquire 67,000 net acres in the DJ Basin and 11,500 net acres in the Cotton Valley play for a total of US$746 million. Assets include 650 gross wells in the Weld County, DJ Basin that are currently producing 12.5 mboe/d (51% oil) from the Niobrara and Codell. The Cotton Valley acreage in Arkansas currently produces 3.3 mboe/d (55% oil). This report covers our valuation of the deal and analysis of strategic rationale for each company.