CIVITAS RESOURCES, INC.

CIVITAS RESOURCES, INC. deregistered its securities, ending its obligation to file reports with the SEC.

listing compliance notice

CIVITAS RESOURCES, INC.'s exchange filed to remove a class of its securities from listing.

listing compliance notice

The SM Energy merger closed on Jan 30, 2026 after both companies' stockholders approved it on Jan 27. Each Civitas share was converted into 1.45 SM Energy shares, Civitas ceased to exist, and all Civitas directors and officers left their Civitas roles. The Civitas credit facility with JPMorgan was fully repaid and terminated, Civitas stock stopped trading on the NYSE, and Civitas intends to file a Form 15 to end its SEC reporting. This resolves the pending merger thread; Civitas equity awards were assumed by SM Energy at the same 1.45 ratio.

business combination

Civitas filed its final joint proxy statement/prospectus with SM Energy for the pending merger, first mailed around Dec 22, 2025. Each Civitas share would convert into 1.45 SM Energy shares (fixed ratio, not adjusted for price moves), leaving Civitas holders with about 52% of the combined company and SM Energy holders about 48%. Both companies hold virtual special meetings (SM Energy's is set for Jan 27, 2026); Civitas holders vote to adopt the merger agreement and on an advisory vote on executive merger pay, and the Civitas board recommends voting for both. Kimmeridge has agreed to vote in favor under a voting agreement. This moves the pending SM Energy deal toward the stockholder votes; the visible text does not show the Civitas meeting date or the vote result.

business combination

On Dec 18, 2025, Civitas received notice that the US antitrust waiting period for the pending SM Energy merger ended early, satisfying one of the closing conditions. The filing says SM Energy has now filed its Form S-4 registration statement, but it is not yet declared effective. Stockholder votes and other conditions still remain, so the merger is not complete.

business combination

Civitas signed a merger agreement with SM Energy Company on Nov 2, 2025. Each Civitas share would convert into 1.45 SM Energy shares, with Civitas ending up merged into SM Energy. Closing needs approval from both companies' stockholders, antitrust clearance, NYSE listing of the new shares, an effective registration statement and a tax opinion. The agreement sets an outside date of Aug 3, 2026 (extendable to Nov 2, 2026 for antitrust clearance only). Civitas would owe SM Energy a termination fee in certain cases (amount truncated in the text). The new SM Energy board would have 11 members, five of them from the Civitas board. This is a new thread that would end current shareholders' Civitas shares, but the deal has not closed.

business combination

On June 3, 2025 Civitas completed a $750 million offering of 9.625% senior notes due June 15, 2033, with interest starting December 15, 2025. It expects to use the net proceeds to repay part of its credit facility borrowings, so this replaces bank debt with longer-term notes rather than adding to total debt (inference). The coupon is higher than the 8.625% notes issued in October 2023.

debt financing

On January 2, 2024 Civitas closed the Vencer acquisition of oil and gas properties in Glasscock, Martin, Midland, Reagan and Upton Counties, Texas. It paid about $1.0 billion in cash plus 7,181,527 new shares (valued at about $600 million for the purchase agreement), with $550 million more in cash due January 3, 2025; prices are subject to adjustment from a January 1, 2024 effective date. The share count is lower than the 7,289,515 first announced (the filing does not explain why). The new shares dilute existing holders, and a registration rights agreement requires Civitas to file a resale registration for them. The press release says the deferred payment is planned to be funded from cash on hand and/or credit facility borrowings.

asset acquisition disposition

On October 17, 2023 Civitas completed a $1.0 billion offering of 8.625% senior notes due November 1, 2030, with interest starting May 1, 2024. It expects to use the proceeds plus cash on hand to pay part of the cash price for the pending Vencer purchase, which resolves the open question of which financing would be used (notes rather than the bridge loan). If the Vencer deal does not close by January 31, 2024, or Civitas says it will not pursue it, the notes must be redeemed at 100% of face value plus accrued interest. Until then the proceeds may temporarily repay credit facility borrowings.

debt financing

On October 6, 2023 Civitas signed a Fifth Amendment to its JPMorgan credit agreement, letting it borrow up to $1.5 billion more through new unsecured notes or bridge facilities by January 31, 2024 to fund the Vencer deal. It also loosened several debt, dividend/buyback and investment limits (e.g. the general debt limit from 2.50x to 3.00x leverage) and removed the minimum hedging requirement. This addresses part of the funding for the Vencer purchase; the filing does not say which financing will actually be used.

material agreement

On October 3, 2023 Civitas agreed to buy oil and gas properties from Vencer Energy in Glasscock, Martin, Midland, Reagan and Upton Counties, Texas, for $2.15 billion total: $1.0 billion cash and 7,289,515 new shares (about $600 million) at closing, plus up to $550 million cash due January 3, 2025. A 7.5% deposit is in escrow and closing conditions apply. If completed, the new shares would dilute existing holders, and Vencer would get resale registration rights; the deal has not closed per this filing. This is a new acquisition following the Hibernia and Tap Rock deals.

capital raising announcement

On August 2, 2023 Civitas closed both acquisitions signed in June: Hibernia for about $2.25 billion cash, and Tap Rock for about $1.5 billion cash plus 13,538,472 new shares (valued at about $950 million), both subject to post-closing adjustments based on a July 1, 2023 effective date. The new shares are now issued and dilute existing holders, with a registration rights agreement requiring a resale registration statement. It also amended its credit facility (Fourth Amendment): maturity extended to August 2, 2028, borrowing base raised by $1.15 billion to $3.0 billion, elected commitments up by $850 million to $1.85 billion, and maximum credit amounts $4.0 billion. Financial statements and pro forma information for the acquired businesses are to be filed later.

asset acquisition disposition

On June 29, 2023 Civitas completed the offering of $1.35 billion of 8.375% senior notes due 2028 and $1.35 billion of 8.750% senior notes due 2031 (total $2.7 billion), to help pay for the Hibernia and Tap Rock acquisitions together with cash on hand and credit-facility borrowings. The notes must be partly or fully redeemed at 100% if the deals do not close by October 31, 2023 ($850M of each series if Hibernia fails, $600M of each if Tap Rock fails, all if neither closes). This adds substantial new debt with interest starting January 1, 2024; the filing text shown is truncated.

debt financing

On June 23, 2023 Civitas amended its JPMorgan-led credit agreement (Third Amendment) so it can fund the Hibernia and Tap Rock deals signed June 19 with new notes, cash on hand, credit-facility borrowings, and up to $2.7 billion of 364-day bridge loans from Bank of America and JPMorgan. This answers the open question of how the cash would be paid for. The filing says that if the $1.35 billion + $1.35 billion notes offering (8.375% due 2028 and 8.750% due 2031) closes, expected June 29, the company does not expect to draw the bridge loans.

material agreement

On June 19, 2023 Civitas signed two acquisition agreements: Hibernia Energy III for $2.25 billion cash, and Tap Rock Resources for $1.5 billion cash plus 13,538,472 new Civitas shares (valued at about $950 million). Each has a 7.5% cash deposit in escrow and is subject to closing conditions, and the Tap Rock sellers will get resale registration rights. The share issue would dilute existing holders, and this is a large new expansion; neither deal had closed per this filing, and the visible text does not say how the cash will be funded.

capital raising announcement

On Jan 24, 2023 Civitas agreed to buy back 4,918,032 of its shares from CPP Investments (the Crestone Peak holder) at $61.00 each, about $300 million from cash on hand, approved by the board and its Audit Committee. CPP Investments, previously about 25.1% (21,398,753 shares), is expected to remain the largest holder at about 20.6%, and the company said the buyback cuts share count by about 6% to roughly 80.2 million.

material agreement

Civitas raised its credit facility borrowing base from $1.0 billion to $1.7 billion and its elected commitment from $800 million to $1.0 billion after a regular semi-annual review, and said it will redeem all $100 million of its 7.50% notes due 2026 (the ones issued to former HighPoint noteholders) on May 1, 2022 at face value plus accrued interest. As of March 31 it had no borrowings on the facility and about $154 million of cash. This pays off the HighPoint-era notes and resolves the open question on the combined-company facility.

material agreement

Civitas raised the price for buying Bison Oil & Gas II, LLC from Bison Oil & Gas Partners II from $45 million to $160 million, all cash, and dropped the share consideration that had been planned in the Jan 31, 2022 agreement. It closed on March 1, 2022, paid from cash on hand, subject to a final post-closing settlement; this is a new acquisition after the 2021 mergers, and it uses cash rather than issuing shares.

material agreement

On November 1, 2021 the company completed both the Extraction merger of equals and the Crestone Peak acquisition, resolving the two pending deals. It was renamed Civitas Resources, Inc. and its stock began trading on the NYSE as CIVI on November 2, 2021. Extraction holders received 1.1711 shares per share plus about 0.017225678 shares per share of dividend equalization (covering the June 30 and September 30, 2021 dividends); Crestone Peak's holder received 22,500,000 shares. Ownership after closing is about 37% former Bonanza Creek, 37% former Extraction and 26% Crestone Peak. Extraction's warrants were cancelled and replaced with Civitas warrants expiring January 20, 2025 (Tranche A) and January 20, 2026 (Tranche B). Around $1.5 million in cash was paid to certain Crestone Peak employees for phantom equity awards.

asset acquisition disposition

Bonanza Creek completed the $400 million 5.000% senior notes offering on October 13, 2021, resolving the pricing/closing question left open earlier. The notes are unsecured, mature October 15, 2026, pay interest semiannually from April 15, 2022, and are issued under an indenture with Wells Fargo as trustee. They must be redeemed at 100% plus accrued interest if the Extraction and Crestone Peak mergers do not close by December 31, 2021 or the company says it will not pursue them. Proceeds and cash are expected to repay all Crestone Peak credit facility borrowings, repay borrowings under the Bonanza Creek credit facility, and for general corporate purposes. The notes add new debt on top of the credit facility.

debt financing

Bonanza Creek priced its previously announced private offering of $400 million of 5.000% senior notes due 2026, sold at par and expected to close around October 13, 2021. The notes must be redeemed early if the Extraction and Crestone Peak mergers are not completed by December 31, 2021 or if the company says it will not pursue them. This continues the October 5 financing plan; proceeds plus cash are to repay all Crestone Peak credit facility borrowings, repay borrowings under Bonanza Creek's own credit facility, and for general corporate purposes. The filing also repeats that the S-4 became effective September 28, 2021.

business combination

On October 5, 2021 the company announced plans to offer $400 million of new senior unsecured notes due 2026 in a private placement, subject to market conditions. Proceeds plus cash on hand are to repay all borrowings under the Crestone Peak credit facility and some borrowings under Bonanza Creek's own credit facility, and for general corporate purposes. The notes must be redeemed early if the Extraction and Crestone Peak mergers are not completed by December 31, 2021 or if the company says it won't pursue them. The filing also states the S-4 was declared effective by the SEC on September 28, 2021 and the joint proxy statement has been sent to shareholders of both companies.

business combination

Bonanza Creek filed the registration statement (Form S-4) and joint proxy statement/prospectus for the Extraction merger, which also covers the simultaneous Crestone Peak acquisition. It registers up to 30,936,254 new shares for Extraction holders (1.1711 shares per Extraction share, plus about 0.008479 shares per Extraction share to equalize the $0.35 dividend paid June 30, 2021). Post-deal ownership is stated as about 50%/50% for the Extraction merger alone, or 37% Bonanza Creek / 37% Extraction / 26% Crestone Peak if both close. The name would change to Civitas Resources (CIVI) on the Extraction closing. The filing is not yet effective, and shareholder votes are still needed.

business combination

The June 6, 2021 Crestone Peak merger agreement gives Crestone Peak's holder 22,500,000 new company shares. After both mergers, existing company holders would own 37%, Extraction holders 37% and Crestone Peak holders about 26%, so current shareholders would be diluted from the roughly 50% stake under the Extraction deal alone. The board would grow to nine, with one independent designee of Canada Pension Plan Investment Board. Closing needs company shareholder approval, antitrust clearance and the Extraction merger closing; the outside date is December 6, 2021, and a $37.5 million termination fee (reduced to $15 million if an Extraction-deal fee is also paid) applies in specified cases.

business combination

On June 6, 2021 the company signed a second merger agreement, to acquire Crestone Peak (CPPIB Crestone Peak Resources America Inc.) through a two-step merger into a company subsidiary, with Extraction a party for certain provisions. Closing is expressly conditioned on the Extraction merger closing. This filing only furnishes the press release and presentation (not visible in the truncated text), so the deal terms are in the companion filing.

business combination

On May 9, 2021 the company signed a merger of equals with Extraction Oil & Gas: each Extraction share converts into 1.1711 company shares, leaving each side's holders with about 50% of the combined company. The combined company is to be renamed Civitas Resources (ticker CIVI), with Ben Dell as chairman and Eric Greager as CEO on an eight-member board. Closing needs both sides' shareholder votes, antitrust clearance and an effective S-4, with a November 9, 2021 outside date and a $37.5 million termination fee in specified cases. This starts a new merger thread right after the HighPoint closing.

business combination

On April 1, 2021 the company completed the HighPoint acquisition through HighPoint's confirmed prepackaged plan: HighPoint is now a wholly-owned subsidiary, HighPoint shareholders get 0.11464 company shares per share, and holders of the $625 million of HighPoint notes received 9,314,214 shares and $100 million of new 7.5% senior notes due 2026. The credit facility was amended the same day, raising maximum commitments from $750M to $1,000M and the borrowing base from $260M to $500M (LIBOR floor 0.50%, max net leverage 3.0x), and HighPoint's own credit facility was paid off and terminated. Franklin Advisers also signed a registration rights agreement with sale limits. This resolves the HighPoint merger thread; the visible text is truncated, so any leadership change (Item 5.02) is not seen.

asset acquisition disposition

On March 18, 2021 the Delaware bankruptcy court confirmed HighPoint's prepackaged Chapter 11 plan, which carries out the November 2020 merger agreement and the noteholder support agreement. Closing is still subject to the conditions in the plan and merger documents, so this moves the HighPoint deal forward but the completion is not yet reported here.

business combination

An 8-K says the SEC declared both HighPoint-deal registration statements effective on February 9, 2021. On February 10 the company set its shareholder vote for March 12, 2021 (record date February 1, 2021) and launched the exchange offers for HighPoint's 7.0% 2022 and 8.75% 2025 notes. HighPoint began collecting noteholder consents and votes on its prepackaged Chapter 11 plan at the same time. This moves the merger from filing stage to active voting and tendering. Closing is not yet reported, and the expiration dates are not seen in the visible text.

business combination

Amendment No. 1 to the joint proxy S-4, dated January 29, 2021 (posted February 1), restates the HighPoint deal terms: about 68% to existing company holders, 1.6% to HighPoint stockholders and 30.4% to participating noteholders, with 0.114 shares per HighPoint share. The changes seen are that the 97.5% note participation test now applies to each series of notes and that the notes are referred to as those of HighPoint Operating Corporation. The prepackaged Chapter 11 remains the fallback if the exchange or HighPoint holder vote fails. The special meeting date is still blank, and the filing is truncated, so other changes are not seen.

business combination

Amendment No. 1 to the noteholder-exchange S-4, filed around January 29, 2021 (posted February 1), sets the minimum payout: for each $1,000 of HighPoint notes, at least 14.9027424 company shares (worth $301.78 at the January 26, 2021 close) and $138.46 of new company notes, plus accrued interest and the $2.50 consent fee. The 97.5% minimum now applies to each series of notes rather than the total, and the notes are described as issued by HighPoint Operating Corporation. Total stock stays at 9,314,214 shares, so existing holders' roughly 68% stake is unchanged; the extra shares or notes depend on participation. Meeting and deadline dates are still blank.

business combination

A second S-4 filed December 17, 2020 registers the securities for the HighPoint noteholder exchange: 9,314,214 company shares (about $210.6 million at $22.61 per share) and up to $100 million of new 7.5% Senior Notes due 2026, guaranteed by company subsidiaries. HighPoint's $350 million 7.0% 2022 notes and $275 million 8.75% 2025 notes would be exchanged, with a $2.50 per $1,000 consent fee, and out-of-court closing needs 97.5% participation. This continues the November 2020 merger thread and adds the new notes as a company debt obligation if the exchange completes. The filing is truncated, so per-$1,000 consideration is not seen here.

business combination

On December 17, 2020 the company filed its first registration statement (Form S-4) for the HighPoint deal announced November 9, 2020. This one registers 490,221 shares for HighPoint stockholders (0.114 company shares per HighPoint share, valued at about $11.1 million at $22.61 per share) and carries the joint proxy statement asking both companies' holders to vote. Terms match the announced deal: existing company holders about 68% after closing, and a company-board recommendation to vote for the share issuance. If the notes exchange falls short of 97.5% or HighPoint holders do not approve, HighPoint intends to use a prepackaged Chapter 11. The meeting date is blank and the filing is truncated, so no new terms are seen.

business combination

the exchange certified CIVITAS RESOURCES, INC.'s securities for listing, clearing them to begin trading.

listing compliance notice

On November 9, 2020 the company agreed to acquire HighPoint Resources through a merger plus an exchange of HighPoint's $625 million of senior notes for 9,314,214 new company shares and up to $100 million of new company senior notes. After closing, existing company shareholders would own about 68% of the combined company, HighPoint shareholders 1.6% and participating HighPoint noteholders 30.4%, so current holders are diluted to about 68%. HighPoint stockholders would get a fixed ratio of 0.114 company shares per HighPoint share. The deal would close out of court if 97.5% of the notes tender and HighPoint holders approve; otherwise HighPoint may use a prepackaged Chapter 11 plan, with deadlines of April 8, 2021 and May 24, 2021. Brian Steck is to be chairman of a seven-member board, and HighPoint paid the company a $6 million fee at signing. This is a new thread, and the filing is truncated, so some terms are not seen.

business combination

On June 18, 2020, at its scheduled semi-annual review, the company and its JPMorgan-led lenders cut the borrowing base on the December 2018 credit facility from $375 million to $260 million and lowered the elected loan limit from $350 million to $260 million. The amendment also adds tighter terms: weekly mandatory repayment of cash above $35.0 million, a lower maximum leverage ratio (4.0 to 3.5), and higher interest margins. All lenders supported it, and the next redetermination is due around November 1, 2020. This reduces the company's borrowing room compared with the $350 million base set in 2018.

debt financing

On December 7, 2018 the company replaced its KeyBank credit facility with a new JPMorgan-led reserve-based facility: $750.0 million total commitments, a $350.0 million initial borrowing base, $50.0 million drawn at closing, maturing December 7, 2023. It repaid the $30.0 million outstanding on the old facility, which was terminated; the new facility carries leverage and current-ratio covenants and is secured on substantially all assets. The press release says the borrowing base is up from $191.7 million and cites $24.0 million of cash and no borrowings at September 30, 2018. This resolves the 'longer-term financing' thread from June 2018.

debt financing

On December 28, 2017 Bonanza Creek and SandRidge mutually terminated the November merger agreement, so the $36.00-per-share deal will not happen. The press release says SandRidge's board concluded, after consulting its largest shareholders, that it would not win approval at its special meeting. They released each other from claims, including break fees, and SandRidge will reimburse Bonanza up to $3,730,888 of expenses. The company says it will continue as an independent company and plans a 2018 capital program and guidance update in January.

business combination

On November 14, 2017 the company agreed to be acquired by SandRidge Energy: each Bonanza share would get $19.20 in cash plus SandRidge shares worth $16.80 (exchange ratio between 0.7858 and 0.9600, depending on SandRidge's share price). It needs approval from both companies' shareholders, an effective SandRidge registration statement, NYSE listing and HSR clearance. Either side can end it if not closed by May 14, 2018 (extendable to July 14, 2018); the termination fee is $26,116,219 and expense reimbursement up to $3,730,888. This is a new sale of the company, following the April 2017 emergence plan.

business combination

CIVITAS RESOURCES, INC.'s exchange filed to remove a class of its securities from listing.

listing compliance notice

the New York Stock Exchange certified CIVITAS RESOURCES, INC.'s securities for listing, clearing them to begin trading.

listing compliance notice

On April 7, 2017 the bankruptcy court confirmed the company's Chapter 11 plan, resolving the confirmation thread. Existing common shares (49,669,026 outstanding) will be cancelled on the Effective Date; holders who did not opt out of releases share 4.5% of the new stock plus 3-year warrants for up to 7.5% at a $1.45 billion equity value. The ad hoc equity committee settled its objections: its members will invest $7.5 million and receive 1.75% of new stock plus their share of the holder consideration and up to $3 million of fees. The revolver lenders get cash payment in full plus a share of an Exit RBL of about $191.6 million (KeyBank agent, matures March 31, 2021). The plan is not yet effective: it still needs the rights offering, the new NGL Crude Logistics oil purchase agreement and other approvals. The new board will have seven members, including CEO Richard Carty.

bankruptcy or receivership

On March 16, 2017 the bankruptcy court approved the company's February 16, 2017 restructuring support agreement with its revolver lenders, who agree to back the noteholder-supported plan and use commercially reasonable efforts to enter an amended and restated revolving credit facility when the plan takes effect. This adds the bank lenders to the plan's supporters; the filing does not say the plan is confirmed or give the facility's size.

material agreement

On February 1, 2017 the company entered a stipulation with the noteholder ad hoc group and Silo Energy, LLC to settle certain Silo claims in the bankruptcy. It also disclosed that an ad hoc committee of shareholders, which says it holds 34% of the stock, proposed an alternative deal (notes 80%/equity 20%, a $300 million rights offering with $100 million for equity holders), which 'did not result in an acceptable transaction' and drew no counteroffer.

material agreement

On January 4, 2017 the company and certain subsidiaries (including Rocky Mountain Infrastructure, LLC) filed Chapter 11 in Delaware to pursue the prepackaged plan from the December RSA, and keep operating as debtors in possession. The filing accelerated about $191.7 million under the revolver, $531.9 million of 2021 notes and $335.2 million of 2023 notes, though enforcement is stayed; the company expects to emerge before the end of Q1 2017 and warns trading in its securities is highly speculative.

bankruptcy or receivership

On December 23, 2016 the company signed a restructuring support agreement with holders of about 51% of its 5.75% 2023 and 6.75% 2021 senior notes, and with NGL, for a prepackaged Chapter 11 filing on or before January 5, 2017. The plan converts about $800 million of senior notes into equity and adds a $200 million backstopped rights offering; existing shares are cancelled, though holders who grant releases would share 4.5% of the new shares plus warrants. This follows the deferred interest, shrinking borrowing base and NYSE notices seen earlier in 2016.

material agreement

The company elected to repay the $50 million borrowing base shortfall in six monthly installments and paid the first on November 30, 2016. On November 28 the NYSE again notified it that its 30-day average share price ($0.99) was below $1.00, with six months to cure; the filing says an August notice of the same kind was cured on September 30, 2016.

listing compliance notice

On October 31, 2016 the lenders cut the borrowing base from $200 million to $150 million, with about $214.7 million borrowed. After the last monthly installment of about $14.6 million on the May shortfall, the company will have a new shortfall of about $50 million, which it must address by repaying, pledging more properties, or paying in installments.

debt financing

On August 24, 2016 the NYSE notified the company that its 30-day average share price of $0.98 was below the $1.00 minimum, giving it six months to cure while the stock keeps trading. The company also said it deferred its August 1 interest payment on the $300 million 5.75% notes due 2023, then paid the roughly $8.6 million in full on August 29 within the 30-day grace period, so it remains in compliance with the indenture.

listing compliance notice

On May 20, 2016 the lenders cut the borrowing base from $475 million to $200 million, while the company had $288 million drawn, leaving an $88 million shortfall. The company has to fix it by repaying, pledging more properties, or paying in six monthly installments. It says it is currently in compliance with its covenants.

debt financing

On March 7, 2016 the company borrowed $209 million on its revolver, bringing borrowings and letters of credit to $300 million (including $12 million of letters of credit). Cash was $235 million as of March 9, 2016 versus $21 million at year-end 2015. The CEO called the draw a risk management decision; the company also restructured its oil hedges and said it is working on selling its Mid-Continent assets and Rocky Mountain Infrastructure.

debt financing

On February 29, 2016 the sale of Rocky Mountain Infrastructure to Meritage was cancelled by mutual agreement, and Meritage owes the company $6 million within three business days. The company says it plans to re-market the assets. This ends the November 2015 sale. The filing also announced 2015 results, but the text gives no figures.

material agreement termination

On November 5, 2015 the company's subsidiary agreed to sell its midstream subsidiary Rocky Mountain Infrastructure, LLC to Meritage Midstream Services IV, LLC for up to $255 million: $175 million at closing and up to $80 million more over about two years, tied to drilling and completion of a set number of wells. Closing was expected by December 31, 2015 and no later than January 31, 2016, and either party could walk away by paying a $6 million fee.

material agreement

The company sold 8,050,000 new shares in a public offering (7,000,000 plus the underwriters' full 1,050,000 over-allotment option) at $25.21 per share to the underwriters, closing February 6, 2015, for net proceeds of about $202.6 million. The money is to repay all borrowings under the revolving credit facility, with the rest for general corporate purposes. This dilutes existing shareholders; the price is well below the $45.42 per share used in the July 2014 acquisition (a comparison from the filings' figures).

material agreement

The company sold $300 million of 5.75% senior unsecured notes due 2023, closing July 18, 2014, with net proceeds of about $293.7 million; interest is paid semiannually starting February 1, 2015. The earlier press release said part of the proceeds would repay all borrowings under the revolving credit facility, with the rest for general corporate purposes. This adds long-term debt ahead of shareholders.

debt financing

The DJ Resources acquisition announced in May closed on July 8, 2014, for $174.2 million in cash and 853,492 new shares priced at $45.42 each (fewer shares than the up to 1,100,837 first announced). The company must file a resale registration for the seller's shares by August 7, 2014.

asset acquisition disposition

Bonanza Creek agreed to buy Weld County, Colorado oil and gas assets from DJ Resources, LLC for up to $225.5 million: $175.5 million cash and up to 1,100,837 new shares. The deal, with an $11.275 million escrow deposit, was expected to close early in the third quarter of 2014; the company also announced White Cliffs pipeline space and a borrowing base increase to $525 million.

material agreement