Bonanza Creek Energy’s Merger with Extraction Oil & Gas

Vinson & Elkins LLP advised Bonanza Creek Energy on the deal, while Kirkland & Ellis advised Extraction Oil & Gas.

Bonanza Creek Energy, Inc. (“Bonanza Creek”) announced its entry into a definitive agreement to combine with Extraction Oil & Gas, Inc. (“Extraction”) in an all-stock merger of equals transaction. The combined company, to be named Civitas Resources, Inc., will be the largest pure-play energy producer in Colorado’s Denver-Julesburg Basin, with an enterprise value of approximately $2.6 billion based on the equity market capitalizations of Bonanza Creek and Extraction as of May 7, 2021.

The V&E corporate team was led by partners Steve Gill (Picture) and Shelley Barber, with assistance from senior associate Alex Robertson and associates David Lassetter, Elizabeth Janicki, Andrea Siso and Patrick Nichols.  Also advising were partner Katherine Frank and associates Cameron Land, Claire Wenholz and Anne Jensen; partners James Meyer and Wendy Salinas, senior associate Brian Russell and associate David Gilbert; partner Shane Tucker, senior associate Missy Spohn and associate Matt Green; partner Sean Becker and associate Peter Goetschel; partner Brett Santoli and senior associate Maya Bobbitt; partner Paul Heath and senior associate Lauren Kanzer; partner Larry Nettles; partner Suzanne Clevenger and associate Tray Smith; and partner John Grand and counsel Elena Sauber.

The Kirkland team advising Extraction Oil & Gas was led by corporate partners Doug Bacon and Alex Rose and associates Camille Walker and Brittany Scheier; capital markets partners Julian Seiguer and Bryan Flannery; asset partners Anthony Speier and Chris Heasley and associate Alia Heintz; and tax partner Mark Dundon and associates Joe Tobias and Courtney Loyack.

Involved fees earner: Douglas Bacon – Kirkland & Ellis; Mark Dundon – Kirkland & Ellis; Bryan Flannery – Kirkland & Ellis; Christopher Heasley – Kirkland & Ellis; Alia Heintz – Kirkland & Ellis; Courtney Loyack – Kirkland & Ellis; Alex Rose – Kirkland & Ellis; Brittany Scheier – Kirkland & Ellis; Julian Seiguer – Kirkland & Ellis; Anthony Speier – Kirkland & Ellis; Joe Tobias – Kirkland & Ellis; Camille Walker – Kirkland & Ellis; Shelley Barber – Vinson & Elkins LLP; Sean Becker – Vinson & Elkins LLP; Maya Bobbitt – Vinson & Elkins LLP; Suzanne Clevenger – Vinson & Elkins LLP; Katherine Frank – Vinson & Elkins LLP; David Gilbert – Vinson & Elkins LLP; Stephen Gill – Vinson & Elkins LLP; Peter Goetschel – Vinson & Elkins LLP; John Grand – Vinson & Elkins LLP; Matthew Greenberg – Vinson & Elkins LLP; Paul Heath – Vinson & Elkins LLP; Elizabeth Janicki – Vinson & Elkins LLP; Anne Jensen – Vinson & Elkins LLP; Melissa Jester Spohn – Vinson & Elkins LLP; Lauren Kanzer – Vinson & Elkins LLP; Cameron Land – Vinson & Elkins LLP; David Lassetter – Vinson & Elkins LLP; James Meyer – Vinson & Elkins LLP; Larry Nettles – Vinson & Elkins LLP; Patrick Nichols – Vinson & Elkins LLP; Alex Robertson – Vinson & Elkins LLP; Brian Russell – Vinson & Elkins LLP; Brett Santoli – Vinson & Elkins LLP; Elena Sauber – Vinson & Elkins LLP; Tray Smith – Vinson & Elkins LLP; Wendy Trahan Salinas – Vinson & Elkins LLP; Shane Tucker – Vinson & Elkins LLP; Claire Wenholz – Vinson & Elkins LLP;

Law Firms: Kirkland & Ellis; Vinson & Elkins LLP;

Clients: Bonanza Creek; Extraction Oil & Gas, LLC;

Author: Martina Bellini