Bonanza creek and extraction to combine in merger of equals, creating civitas resources – a new colorado energy leader and the state's first net-zero oil & gas producer

Denver, may 10, 2021 (globe newswire) -- 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).
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