 DENVER, Nov. 09, 2020 GLOBE NEWSWIRE -- Bonanza Creek Energy, Inc. Bonanza Creek or the Company NYSE: BCEI and HighPoint Resources Corporation HighPoint NYSE: HPR today announced that they have entered into a definitive merger agreement to combine Bonanza Creek and HighPoint in a transaction valued at approximately 3761 million as of November 6, 2020. The transaction value is based on the equity to be issued to HighPoint equity holders, the equity and debt to be issued to HighPoint debt holders in connection with the Exchange Offer as defined below and the remaining debt to be assumed. Bonanza Creek will issue 9.8 million shares of common stock and up to 100 million in senior unsecured notes in the transaction. The transaction has been unanimously approved by the board of directors of each company. 