Bonanza Creek Energy Inc., Denver, completed its merger with HighPoint Resources Corp., Denver, creating a company of scale in the rural Denver-Julesburg (DJ) basin in Weld County, Colo., with production of 50,000 boe/d (53% oil) and a consolidated, contiguous leasehold position of 206,000 net acres.
The deal was unanimously approved by the board of directors of each company and was previously approved by Bonanza Creek stockholders and HighPoint stockholders at special meetings held independently on Mar. 12, 2021.
HighPoint was granted bankruptcy court approval in mid-March by the United States Bankruptcy Court for the District of Delaware of its prepackaged reorganization plan and merger with Bonanza Creek where it filed for Chapter 11 protection.
The companies noted plans to merge in November 2020. Combined, the companies produced over 17.74 million b/o and 54.51 MMcf of natural gas in 2019.
