Bonanza Creek Energy Inc., has merged with HighPoint Resources Corporation. The transaction 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 March 12.
Eric Greager, president and chief executive officer, Bonanza Creek, commented, “Today is an exciting day for Bonanza Creek. We sincerely appreciate the tireless efforts of the Bonanza Creek and HighPoint teams in getting this transaction closed. The combination creates a company of scale in the rural DJ Basin, and a business capable of delivering significant and sustainable levered free cash flow. We look forward to providing guidance for the combined company on Monday, April 5, and continuing discussions with all our stakeholders.”
Brian Steck, chairman of the Bonanza Creek Board, added, “The closing of the HighPoint transaction also signifies transitions at the board level as we welcome two new independent directors, Audrey Robertson and Jim Craddock. Audrey and Jim bring with them extensive oil and gas experience that will contribute to future strategic discussions for Bonanza Creek.”