Civitas to buy CPPIB-backed Crestone for $1.3bn: Reuters

Civitas Resources, the US oil and gas producer being formed through the merger of Bonanza Creek Energy and Extraction Oil & Gas, has agreed to buy Crestone Peak Resources for $1.3 billion, including debt, sources told Reuters.

Civitas Resources, the US oil and gas producer being formed through the merger of Bonanza Creek Energy and Extraction Oil & Gas, has agreed to buy Crestone Peak Resources for $1.3 billion, including debt, sources told Reuters. Civitas will use its own stock as currency to pay Crestone’s owners, including Canada Pension Plan Investment Board and Broe Group. Extraction’s largest shareholder is Kimmeridge Energy Management.

Source: Reuters