Weld County O&G operators to merge amid bankruptcy
DENVER — Bonanza Creek Energy Inc. (NYSE: BCEI) and HighPoint Resources Corp. (NYSE: HPR) have been granted permission to combine, a move that will consolidate two of the top-10 energy producers in Weld County by volume.
The two Denver-based operators were given the go-ahead to merge last Thursday by the Delaware Bankruptcy Court, where HighPoint had filed its Chapter 11 case.
Bonanza and HighPoint first announced their intentions to merge last November by exchanging two HighPoint long-term debt notes for Bonanza stock and unsecured debt. HighPoint declared bankruptcy as a backup plan after only 93% of the company’s debt holders agreed…
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