Bonanza Creek Energy, Inc.

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BONANZA CREEK MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE MERGER OF BONANZA CREEK ENERGY, INC. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – BCEI

May 10, 2021.

New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the merger of Bonanza Creek Energy, Inc. (NYSE: BCEI) and Extraction Oil & Gas, Inc. is fair to Bonanza Creek shareholders. Under the terms of the agreement, Extraction shareholders will receive a fixed exchange ratio of 1.1711 shares of Bonanza Creek common shares for each share of Extraction common stock owned on the closing date. Upon completion of the transaction, Bonanza Creek will own approximately 50.0% of the combined company, to be named Civitas Resources, Inc.

The investigation concerns whether Bonanza Creek and its board violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Bonanza Creek shareholders; and (2) disclose all material information necessary for Bonanza Creek shareholders to adequately assess and value the merger consideration. On behalf of Bonanza Creek shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.

Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

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