Bonanza Creek to acquire Extraction Oil & Gas for $1.1bn 11 May 2021 (Last Updated May 11th, 2021 11:34) US-based oil and natural gas firm Bonanza Creek Energy has agreed to acquire Extraction Oil & Gas in $1.1bn all-stock deal. Share Article The merged entity, which will be named Civitas Resources, will be valued at approximately $2.6bn. Civitas Resources is expected to be one of the largest pure-play energy producers in Colorado’s Denver-Julesburg (DJ) Basin. With operation across approximately 425,000 net acres, Civitas will have a production base of 117,000 barrels of oil equivalent per day. Upon the completion of the deal, shareholders of Bonanza Creek and Extraction will each hold nearly 50% stake in Civitas.