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HighPoint Files for Chapter 11, but Bonanza Creek Merger Still Proceeding Colorado pure-play HighPoint Resources Corp. has filed for Chapter 11 after a senior notes exchange offer failed by merger partner Bonanza Creek Energy Inc. The Denver-based exploration and production (E&P) companies, which both train their talents on the Denver-Julesburg (DJ) Basin, agreed in November to merge in an estimated $376 million transaction.  Bonanza Creek in early February launched an offer to exchange common stock and newly issued senior notes due in 2026 for all of HighPoint’s senior notes due in Octobe...

Colorado-based oil and gas producer HighPoint Resources Corp. filed for Chapter 11 protection in Delaware bankruptcy court with a prepackaged plan to cut $625 million in debt by merging with Bonanza Creek Energy after an attempt to close the deal out of court failed in February.

Oil declined for a second day as the market’s underlying structure weakened and the dollar strengthened.

Miguel Otárola/CPR News Rusty Frishmuth shows off an air compressor powering controllers at an oil field off Hwy. 34 east of Greeley, Colo., on Feb. 24, 2021. Controllers at this facility are powered by compressed air. Rusty Frishmuth opened a metal equipment cabinet in an oil field east of Greeley and waited for the sound. A few minutes later, a sharp woosh blew from inside. It was the sound of a pneumatic controller in action. “Incredibly exciting, right?” joked Frishmuth. As the director of environmental health and safety for HighPoint Resources, which drills across the Denver-Jules...

Bonanza Creek Energy, Inc. (NYSE: BCEI) (the “Company” or “Bonanza Creek”) today announced its fourth quarter and full-year 2020 financial results, and has