Bonanza Creek Energy, Inc. (BCEI) (“Bonanza Creek”) continues to work towards closing the sale of its wholly-owned midstream subsidiary, Rocky Mountain Infrastructure, LLC, to Meritage Midstream Services IV, LLC, backed by private equity firm Riverstone Holdings LLC. The parties have mutually agreed to extend the closing date for the transaction to February 29, 2016.
Since the transaction was announced, both parties and their representatives have been drafting the complex commercial and operating agreements that will govern the daily operation of the assets. Richard Carty, President and Chief Executive Officer of Bonanza Creek, commented, “Our respective teams have worked diligently and in close collaboration. Together we have made substantial progress with the essential agreements that underpin our long-term partnership. We are focused on completing the definitive agreements over the next 30 days.”
About Bonanza Creek Energy, Inc.
Bonanza Creek Energy, Inc. is an independent oil and natural gas company engaged in the acquisition, exploration, development and production of onshore oil and associated liquids-rich natural gas in the United States. The Company’s assets and operations are concentrated primarily in the Rocky Mountains in the Wattenberg Field, focused on the Niobrara and Codell formations, and in southern Arkansas, focused on the oily Cotton Valley sands. The Company’s common shares are listed for trading on the NYSE under the symbol: “BCEI.” For more information about the Company, please visit www.bonanzacrk.com. Please note that the Company routinely posts important information about the Company under the Investor Relations section of its website.