D-J drillers Bonanza Creek, Extraction to combine
DENVER — Two of the largest oil and gas producers in Weld County intend to combine in a merger of equals to form a single drilling company valued at $2.3 billion.
Bonanza Creek Energy Inc. (NYSE: BCEI) and Extraction Oil & Gas Inc. (OTCMKTS: XOG) said in a joint statement Monday morning that the two intend to combine in an all-stock deal under a new name, Civitas Resources Inc. The majority of the two drillers’ operations are in the Denver-Julesburg Basin, spanning along the Front Range and portions of Wyoming and Nebraska.
While the board will be split between four members nominated…
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