Drilling Bonanza in the DJ

Drilling Bonanza in the DJ

Add one more to the crush of mergers and acquisitions this year in the nation’s most prolific oil and gas basins, this time out West. Reese Energy Consulting today is following the latest news from Denver-based Bonanza Creek, which will combine with Extraction Oil & Gas in a $1.1 billion all-stock merger of equals with an enterprise value of $2.6 billion. The merger creates the largest pure-play oil and gas operator in the DJ Basin and introduces a name change to the pairing now collectively known as Civitas Resources. Total assets include 425,000 net acres and 117 MBPD in production. Civitas also will become Colo.’s first net-zero producer at closing with an aggressive emissions reduction program. Sustainability initiatives will include a multi-year investment in emissions offsets, an EV fleet and charging stations, responsibly sourced natural gas, and community solar facilities.

What do you think? Learn more about REC and our upstream, midstream, and downstream expertise and services at www.ReeseEnergyConsulting.com.

Bonanza Creek Energy

Bonanza Creek Energy, Inc. is a Colorado-based exploration and production company. We are committed to the communities and environment in which we live and operate. The Company’s primary objective is to maximize shareholder returns by safely and responsibly developing our oil and gas resources. Bonanza Creek is traded on the NYSE under the symbol “BCEI.”

bonanzacrk.com

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New Mexico Lowers Gavel on Flaring

New Mexico Lowers Gavel on Flaring

​Flaring and venting gas in N.M.’s upstream and midstream operations are a hotly debated issue among operators, activists, the new Administration, state regulators, and a divided populace. For some perspective, N.M., in 2020 collected $2.6 billion in oil and gas revenues—36% of its total revenues—to fund schools and infrastructure. Reese Energy Consulting today is following the latest news from the Land of Enchantment state, which now has finalized new rules to ban routine flaring by 2026. Methane leaks and flared gas not only are harmful to the environment, but also a source of lost revenue. REC’s natural gas expertise has prompted numerous E&Ps and midstreamers to engage us and help them navigate new policy changes to get ahead of drop-dead compliance dates. This means everything from in-depth research, strategic planning, and economic cost analysis, to identifying and vetting the best emissions-control technologies that return hefty revenues.

How can we help you? Learn more about REC and our natural gas services and operations expertise at www.ReeseEnergyConsulting.com.

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In Good Company

In Good Company

Reese Energy Consulting today recognizes our newest producer and midstream clients who came on board with us in 2020. Besides the great projects we had the opportunity to tackle, they’re also a group of terrific folks—and that’s always a sweet bonus prize. Our thanks go out to:

Learn more about our own group of terrific folks and range of upstream, midstream, and downstream services at www.ReeseEnergyConsulting.com.

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