SUMMARY

The following summary highlights selected information described in more detail elsewhere in this joint proxy statement/prospectus and the documents attached to or incorporated by reference into this joint proxy statement/prospectus and may not contain all the information that may be important to you. To understand the mergers and the matters being voted on by Bonanza Creek and Extraction stockholders at their respective special meetings more fully, and to obtain a more complete description of the legal terms of the Extraction merger agreement, Crestone Peak merger agreement and the agreements related thereto, you should carefully read this entire document, including the annexes and the documents incorporated herein and to which Bonanza Creek and Extraction refer you. Each item in this summary includes a page reference directing you to a more complete description of that topic. See “Where You Can Find More Information” for more information on Bonanza Creek and Extraction and Annexes J, K and L for more information on Crestone Peak.

The Parties

Bonanza Creek Energy, Inc.

Bonanza Creek is an independent oil and natural gas company engaged in the acquisition, exploration, development, and production of oil and associated liquids-rich natural gas in the Rocky Mountain region of the United States. Bonanza Creek’s assets and operations are concentrated in rural, unincorporated Weld County, Colorado, within the Wattenberg Field, focused on the Niobrara and Codell formations.

Bonanza Creek is a Delaware corporation with principal executive offices located at 410 17th Street, Suite 1400, Denver, CO 80202. Its telephone number is (720) 440-6100. Shares of Bonanza Creek common stock are listed for trading on the NYSE under the symbol: “BCEI.” Additional information about Bonanza Creek and its subsidiaries is included in documents incorporated by reference into this joint proxy statement/prospectus. See “Where You Can Find More Information.”

Extraction Oil & Gas, Inc.

Extraction is a Denver-based independent energy company, differentiated by its financial, operational and governance model. Extraction is focused on developing and producing crude oil, natural gas and NGLs in the Denver-Julesburg Basin of Colorado. Extraction’s principal executive offices are located at 370 17th Street, Suite 5200, Denver, CO 80202. Its telephone number is (720) 557-8300. Shares of Extraction’s common stock are traded on the NASDAQ under the symbol “XOG.” Additional information about Extraction and its subsidiaries is included in documents incorporated by reference into this joint proxy statement/prospectus. See also “Where You Can Find More Information.”

Raptor Eagle Merger Sub

Raptor Eagle Merger Sub is a Delaware corporation and a wholly owned subsidiary of Extraction. Raptor Eagle Merger Sub was incorporated for the sole purpose of effecting the Extraction merger. In the Extraction merger, Raptor Eagle Merger Sub will merge with and into Extraction, with Extraction surviving as a direct, wholly owned subsidiary of Bonanza Creek and the separate corporate existence of Raptor Eagle Merger Sub will cease.

Raptor Eagle Merger Sub’s principal executive office is located at c/o Bonanza Creek Energy, Inc., 410 17th Street, Suite 1400, Denver, CO 80202 and its telephone number is (720) 440-6100.

CPPIB Crestone Peak Resources America Inc.

Crestone Peak is an independent energy company focusing on the acquisition, exploration, development, and production of oil and gas reserves in the Rocky Mountain Region. Crestone Peak’s principal executive office

is located at One Queen Street East, Suite 2500/2600, Toronto ON M5C 2W5, Canada. Its telephone number is (416) 868-4075. Additional information about Crestone Peak and its subsidiaries is included in documents attached to this joint proxy statement/prospectus. See also “Where You Can Find More Information.”

Raptor Condor Merger Sub 1 and Raptor Condor Merger Sub 2

Raptor Condor Merger Sub 1 is a Delaware corporation and a wholly owned subsidiary of Bonanza Creek, and Raptor Condor Merger Sub 2 is a Delaware limited liability company and a wholly owned subsidiary of Bonanza Creek. Raptor Condor Merger Sub 1 and Raptor Condor Merger Sub 2 were each incorporated for the sole purpose of effecting the Crestone Peak merger. In the Crestone Peak merger, Raptor Condor Merger Sub 1 will merge with and into Crestone Peak, with Crestone Peak surviving as a direct, wholly owned subsidiary of Bonanza Creek and the separate corporate existence of Raptor Condor Merger Sub 1 will cease. Subsequently, Crestone Peak, as the Crestone Peak surviving corporation, will merge with and into Raptor Condor Merger Sub 2, with Raptor Condor Merger Sub 2 continuing as the Crestone surviving company as a wholly owned subsidiary of Bonanza Creek.

Raptor Condor Merger Sub 1 and Raptor Condor Merger Sub 2’s principal executive office is located at c/o Bonanza Creek Energy, Inc., 410 17th Street, Suite 1400, Denver, CO 80202 and its telephone number is (720) 440-6100.

The Extraction Merger (see page 88)

Upon satisfaction or waiver of the conditions to closing in the Extraction merger agreement, at the Extraction effective time, Raptor Eagle Merger Sub will merge with and into Extraction, Raptor Eagle Merger Sub’s separate corporate existence will cease, and Extraction will be the Extraction surviving company following the Extraction merger. Each Extraction Eligible Share will be converted into the right to receive the Extraction merger consideration. Cash will be paid in lieu of the issuance of fractional shares, if any, upon the conversion of Extraction Eligible Shares into the Extraction merger consideration. In the event Bonanza Creek pays one or more Bonanza Creek quarterly dividends, in accordance with the terms of the Extraction merger agreement, Bonanza Creek shall, at the Extraction effective time, pay to each eligible Extraction stockholder a dividend equalization payment of Bonanza Creek common stock in an amount equal to the quotient of (x) the aggregate per share amount of any Bonanza Creek quarterly dividends declared or paid after the date of the Extraction merger agreement and with a record date prior to the Extraction effective time, multiplied by the exchange ratio, and divided by (y) the average trading price of Bonanza Creek common stock at the time of the payment of all such Bonanza Creek quarterly dividends, based on a volume-weighted average closing price of Bonanza Creek common stock over the five trading days immediately prior to the payment date of each Bonanza Creek quarterly dividend. Bonanza Creek paid a quarterly cash dividend of $0.35 per share of Bonanza Creek common stock on June 30, 2021 to shareholders of record at the close of business on June 15, 2021. Pursuant to the Extraction merger agreement, each holder of Extraction common stock will receive a dividend equalization payment of approximately 0.008479 shares of Bonanza Creek common stock per share of Extraction common stock related to the June 30, 2021 dividend as part of the Extraction merger consideration, with cash paid in lieu of fractional shares, if any. Such dividend equalization payment will be adjusted if the Bonanza Creek board declares additional quarterly cash dividends prior to the closing of the Extraction merger.

In addition, Extraction will take all actions as may be necessary so that at the Extraction effective time, each outstanding restricted stock unit and share of restricted common stock in respect of Extraction common stock will be treated as described in “The Extraction Merger — Treatment of Extraction Equity Awards in the Extraction Merger.”

The Crestone Peak Merger (see page 187)

Upon satisfaction or waiver of the conditions to closing in the Crestone Peak merger agreement, at the Merger Sub 1 Merger effective time, Raptor Condor Merger Sub 1 will merge with and into Crestone Peak,

Raptor Condor Merger Sub 1’s separate corporate existence will cease, and Crestone Peak will be the Crestone Peak surviving corporation following the Merger Sub 1 merger. Subsequently, the Crestone Peak surviving corporation will merge with and into Raptor Condor Merger Sub 2, with Raptor Condor Merger Sub 2 continuing as the Crestone surviving company and a wholly owned subsidiary of Bonanza Creek.

Subject to the terms and conditions of the Crestone Peak merger agreement, including the consummation of the Extraction merger, at the Merger Sub 1 merger effective time, the issued and outstanding Crestone Peak Eligible Shares as of immediately prior to the Merger Sub 1 merger effective time will be converted into the right to collectively receive the Crestone Peak merger consideration. In addition, at the Merger Sub 2 merger effective time, each share of common stock of Crestone Peak, as the Crestone Peak surviving corporation of the Merger Sub 1 merger, issued and outstanding as of immediately prior to the Merger Sub 2 merger effective time will automatically be cancelled, and each unit of Raptor Condor Merger Sub 2 issued and outstanding immediately prior to the Merger Sub 2 merger effective time will remain issued and outstanding and will represent the only outstanding units of the Crestone surviving company immediately following the Merger Sub 2 merger.

Bonanza Creek Special Meeting (see page 71)

The Bonanza Creek special meeting will be held on October 29, 2021, at 9:00 a.m., Mountain Time. The Bonanza Creek special meeting will be a virtual meeting conducted via live audio webcast, which you can attend by registering at www.proxydocs.com/BCEI and following the subsequent instructions. The Bonanza Creek special meeting is being held to consider and vote on the following proposals:

The record date for the determination of Bonanza Creek stockholders entitled to notice of and to vote at the Bonanza Creek special meeting is the close of business on September 1, 2021. Only Bonanza Creek stockholders who held Bonanza Creek common stock of record on the Bonanza Creek record date are entitled to vote at the Bonanza Creek special meeting and any adjournments or postponements of the Bonanza Creek special meeting. Each issued and outstanding share of Bonanza Creek common stock entitles its holder of record to one vote on each matter to be considered at the Bonanza Creek special meeting.

In order for business to be conducted at the Bonanza Creek special meeting, a quorum must be present. A quorum at the Bonanza Creek special meeting requires the presence of the holders of a majority of the total issued and outstanding shares of Bonanza Creek common stock entitled to vote at the Bonanza Creek special meeting, represented virtually or by proxy. Abstentions will be counted for purposes of determining whether there is a quorum at the Bonanza Creek special meeting. Shares represented by broker non-votes will not be considered present and entitled to vote at the Bonanza Creek special meeting for the purpose of determining the presence of a quorum. If a quorum is not present or represented or if there are not sufficient votes for the approval of the share issuance proposal, Bonanza Creek expects that the Bonanza Creek special meeting will be adjourned by the chairman of the Bonanza Creek special meeting, in accordance with Section 2.9 of Bonanza Creek’s fourth amended and restated bylaws, which provide that the chair of a meeting of stockholders may adjourn the meeting from time to time. No vote of Bonanza Creek’s stockholders is required for any adjournment or postponement. If the requisite vote to approve the Extraction and Crestone Peak share issuance proposals have not been received at the time of the Bonanza Creek special meeting (or such adjourned meeting), Bonanza Creek may choose to solicit additional proxies in favor of the Extraction and Crestone Peak share issuance proposals.

At any subsequent reconvening of the Bonanza Creek special meeting at which a quorum shall be present or represented, all proxies will be voted in the same manner as the manner in which such proxies would have been voted at the original convening of the Bonanza Creek special meeting, except for any proxies that have been validly revoked or withdrawn prior to the subsequent meeting.

The merger between Bonanza Creek and Extraction cannot be completed without the approval of the Extraction share issuance proposal by the affirmative vote of a majority of votes cast by Bonanza Creek stockholders entitled to vote thereon and present at the virtual meeting or represented by proxy at the Bonanza Creek special meeting. The merger between Bonanza Creek and Crestone Peak cannot be completed without the approval of both of the Extraction and Crestone Peak share issuance proposals by the affirmative vote of a majority of votes cast by Bonanza Creek stockholders entitled to vote thereon and present at the virtual meeting or represented by proxy at the Bonanza Creek special meeting. Accordingly, a Bonanza Creek stockholder’s abstention from voting will have the same effect as a vote “against” each of the Extraction and Crestone Peak share issuance proposals, while a broker non-vote or the failure of a Bonanza Creek stockholder to vote will have no effect on the outcome of either of the Extraction and Crestone Peak share issuance proposals.

As of the Bonanza Creek record date, there were 30,848,887 shares of Bonanza Creek common stock. As of the Bonanza Creek record date, Bonanza Creek directors and executive officers, and their affiliates, as a group, beneficially owned and were entitled to vote 5,477,855 shares of Bonanza Creek common stock, or approximately 17.76% of the combined voting power of the issued and outstanding shares of Bonanza Creek common stock.

Extraction Special Meeting (see page 79)

The Extraction special meeting will be held on October 29, 2021, at 9:00 a.m., Mountain Time. The Extraction special meeting will be a virtual meeting conducted via live audio webcast, which you can attend by visiting www.virtualshareholdermeeting.com/XOG2021SM. The Extraction special meeting is being held to consider and vote on the following proposals:

The record date for the determination of Extraction stockholders entitled to notice of, and to vote at, the Extraction special meeting is the close of business on September 1, 2021. The Extraction stockholders of record on the Extraction record date are the only Extraction stockholders that are entitled to receive notice of, and to vote at, the Extraction special meeting and any adjournments or postponements of the Extraction special meeting. Each outstanding share of Extraction common stock entitles its holder of record to one vote on each matter to be considered at the Extraction special meeting.

In order for business to be conducted at the Extraction special meeting, a quorum must be present. A quorum at the Extraction special meeting requires the presence of the holders of a majority of the total issued and outstanding shares of Extraction common stock entitled to vote at the Extraction special meeting, represented virtually or by proxy. Abstentions will be counted for purposes of determining whether there is a quorum at the

Extraction special meeting. Shares represented by broker non-votes will not be considered present and entitled to vote at the Extraction special meeting for the purpose of determining the presence of a quorum. If a quorum is not present or represented, the chairman of the meeting may adjourn the Extraction special meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present or represented. At such adjourned meeting at which a quorum shall be present or represented, any business may be transacted which might have been transacted at the meeting as originally notified.

Approval of the Extraction merger proposal requires the affirmative vote of the holders of a majority of the outstanding shares of Extraction common stock entitled to vote on the proposal. Accordingly, an Extraction stockholder’s abstention from voting, a broker non-vote, the failure of an Extraction stockholder to vote or the failure of an Extraction stockholder to submit a proxy will have the same effect as a vote “against” the Extraction merger proposal.

Approval of the Extraction compensation proposal on a non-binding advisory basis requires the affirmative vote of a majority of the voting power of shares of stock present in person or represented by proxy and entitled to vote thereon. Accordingly, an Extraction stockholder’s abstention from voting will have the same effect as a vote “against” the Extraction compensation proposal, while a broker non-vote or the failure of an Extraction stockholder to vote will have no effect on the outcome of the Extraction compensation proposal.

As of the Extraction record date, there were 25,842,082 shares of Extraction common stock outstanding. As of the record date, Extraction directors and executive officers, and their affiliates, as a group, beneficially owned and were entitled to vote 262 shares of Extraction common stock, or approximately 0.001% of the issued and outstanding shares of Extraction common stock.

Voting Agreement with Kimmeridge (see page 80 and Annex E)

In connection with the execution of the Extraction merger agreement, Kimmeridge entered into the voting agreement with respect to the voting agreement shares, as amended and restated in connection with the execution of the Crestone Peak merger agreement. As of the Extraction record date, Kimmeridge holds and is entitled to vote in the aggregate approximately 37.9% of the issued and outstanding shares of Extraction common stock entitled to vote at the Extraction special meeting. Pursuant to the voting agreement, Kimmeridge has agreed to vote its shares in favor of the matters to be submitted to Extraction’s stockholders in connection with the Extraction merger, subject to the terms and conditions set forth in the voting agreement. For more information on the voting agreement, please see the section entitled “Extraction Special Meeting — Voting Agreement with Kimmeridge.”

Support Agreement with the Crestone Peak Stockholder (see page 205 and Annex H)

In connection with the execution of the Crestone Peak merger agreement, the Crestone Peak Stockholder entered into the support agreement with Crestone Peak and Bonanza Creek. Pursuant to the support agreement, the Crestone Peak Stockholder has agreed to, among other things, (i) deliver a written consent approving and adopting the Crestone Peak merger agreement and the transactions contemplated thereby, including, with respect to Crestone Peak, the Merger Sub 1 merger, contemporaneously with the execution of the Crestone Peak merger agreement, (ii) vote against specified actions that would adversely affect, discourage or delay the Crestone Peak merger, including specified actions that contemplate alternative transactions and (iii) immediately prior to the closing of the Crestone Peak merger, make an assignment to Crestone Peak of all outstanding shareholder loans made by the Crestone Peak Stockholder to Crestone Peak. For more information on the support agreement, please see the section entitled “The Crestone Peak Merger — Support Agreement with the Crestone Peak Stockholder.”

Recommendation of the Bonanza Creek Board and Reasons for the Mergers (see page 101 and 187)

The Bonanza Creek board unanimously recommends that the Bonanza Creek stockholders vote “FOR” each of the Extraction and Crestone Peak share issuance proposals.

For additional information on the recommendation of the Bonanza Creek board, please see “The Extraction Merger — Recommendation of the Bonanza Creek Board and Reasons for the Extraction Merger” and “The Crestone Peak Merger —  Recommendation of the Bonanza Creek Board and Reasons for the Crestone Peak Merger.”

Recommendation of the Extraction Board and Reasons for the Extraction Merger (see page 101)

The Extraction board unanimously recommends that Extraction stockholders (i) vote “FOR” the Extraction merger proposal and (ii) vote “FOR” the Extraction compensation proposal.

For additional information on the recommendation of the Extraction board, please see “The Extraction Merger —  Recommendation of the Extraction Board and Reasons for the Extraction Merger.”

Opinion of Bonanza Creek’s Financial Advisor — Extraction Merger (see page 114 and Annex B)

Bonanza Creek retained J.P. Morgan to act as financial advisor to Bonanza Creek in connection with the Extraction merger and the transactions contemplated thereby. On May 9, 2021, at a meeting of the Bonanza Creek board and at the request of the Bonanza Creek board, J.P. Morgan delivered an oral opinion subsequently confirmed by a written opinion dated May 9, 2021, to the effect that, as of that date and based on and subject to the assumptions, procedures, factors, qualifications and limitations set forth therein, the exchange ratio in the Extraction merger was fair, from a financial point of view, to Bonanza Creek.

The full text of the written opinion of J.P. Morgan, dated as of May 9, 2021, which sets forth, among other things, the procedures followed, assumptions made, matters considered and qualifications and limitations on the scope of review undertaken in rendering its opinion, is attached hereto as Annex B. You are urged to read J.P. Morgan’s opinion carefully and in its entirety. J.P. Morgan’s opinion was addressed to, and provided for the information and benefit of, the Bonanza Creek board in connection with its evaluation of the fairness of the exchange ratio in the Extraction merger, from a financial point of view, to Bonanza Creek, and did not address any other aspects or implications of the Extraction merger or any other transaction. J.P. Morgan’s opinion should not be construed as creating any fiduciary duty on J.P. Morgan’s part to any party and such opinion was not intended to be, and does not constitute, a recommendation to the Bonanza Creek board or to any other persons in respect of the Extraction merger or any other transaction, including as to how any holder of Bonanza Creek common stock should act or vote in respect of the Extraction merger or any other transaction. J.P. Morgan’s opinion did not address the relative merits of the Extraction merger or any other transaction as compared to other business or financial strategies or opportunities that might be available to Bonanza Creek, nor did it address the underlying business decision of Bonanza Creek to engage in the Extraction merger or any other transaction.

We encourage you to read J.P. Morgan’s opinion attached as Annex B and the section titled “The Extraction Merger — Opinion of Bonanza Creek’s Financial Advisor” of this joint proxy statement/prospectus carefully and in their entirety. J.P. Morgan has consented to the inclusion of a summary of its opinion in this joint proxy statement/prospectus and the attachment of the full text of its opinion as Annex B.

Opinion of Extraction’s Financial Advisor (see page 120 and Annex C)

In October 2019, Extraction retained Petrie Partners to act as financial advisor to the Extraction board in connection with the evaluation of potential strategic alternatives. On June 6, 2021, at a meeting of the Extraction

board, Petrie Partners rendered its oral opinion, subsequently confirmed by delivery of a written opinion, that, as of June 6, 2021, and based upon and subject to the factors, procedures, assumptions, qualifications and limitations set forth in its opinion, the exchange ratio provided for pursuant to the Extraction merger agreement is fair from a financial point of view to the holders of Extraction common stock (other than Bonanza Creek, Crestone Peak and their respective affiliates).

The full text of the written opinion of Petrie Partners, dated as of June 6, 2021, which sets forth, among other things, the procedures followed, assumptions made, matters considered and qualifications and limitations on the scope of review undertaken in rendering its opinion, is attached as Annex C to this joint proxy statement/prospectus and is incorporated herein by reference. Extraction stockholders are urged to read the opinion in its entirety. Petrie Partners’ opinion was addressed to, and provided for the information and benefit of, the Extraction board in connection with its evaluation of the proposed Extraction merger, was directed only to the exchange ratio, and did not address any other aspects or implications of the Extraction merger or any other transaction. Petrie Partners’ opinion does not constitute a recommendation to the Extraction board or to any other persons in respect of the Extraction merger or the Crestone Peak merger, including as to how any holder of shares of voting common stock of Extraction should act or vote in respect of any of the transactions contemplated by the Extraction merger agreement. For a description of the opinion that the Extraction board received from Petrie Partners, see the section entitled “The Extraction Merger — Opinion of Extraction’s Financial Advisor”.

Opinion of Bonanza Creek’s Financial Advisor — Crestone Peak Merger (see page 194 and Annex G)

Bonanza Creek retained J.P. Morgan to act as financial advisor to Bonanza Creek in connection with the Crestone Peak merger and the transactions contemplated thereby. On June 6, 2021, at a meeting of the Bonanza Creek board and at the request of the Bonanza Creek board, J.P. Morgan delivered an oral opinion subsequently confirmed by a written opinion dated June 6, 2021, to the effect that, as of that date and based on and subject to the assumptions, procedures, factors, qualifications and limitations set forth therein, the Crestone Peak merger consideration in the Crestone Peak merger was fair, from a financial point of view, to Bonanza Creek.

The full text of the written opinion of J.P. Morgan, dated as of June 6, 2021, which sets forth, among other things, the procedures followed, assumptions made, matters considered and qualifications and limitations on the scope of review undertaken in rendering its opinion, is attached hereto as Annex G. You are urged to read J.P. Morgan’s opinion carefully and in its entirety. J.P. Morgan’s opinion was addressed to, and provided for the information and benefit of, the Bonanza Creek board in connection with its evaluation of the fairness of the Crestone Peak merger consideration in the Crestone Peak merger, from a financial point of view, to Bonanza Creek, and did not address any other aspects or implications of the Crestone Peak merger or any other transaction. J.P. Morgan’s opinion should not be construed as creating any fiduciary duty on J.P. Morgan’s part to any party and such opinion was not intended to be, and does not constitute, a recommendation to the Bonanza Creek board or to any other persons in respect of the Crestone Peak merger or any other transaction, including as to how any holder of Bonanza Creek common stock should act or vote in respect of the Crestone Peak merger or any other transaction. J.P. Morgan’s opinion did not address the relative merits of the Crestone Peak merger or any other transaction as compared to other business or financial strategies or opportunities that might be available to Bonanza Creek, nor did it address the underlying business decision of Bonanza Creek to engage in the Crestone Peak merger or any other transaction.

We encourage you to read J.P. Morgan’s opinion attached as Annex G and the section titled “The Crestone Peak Merger — Opinion of Bonanza Creek’s Financial Advisor” of this joint proxy statement/prospectus carefully and in their entirety. J.P. Morgan has consented to the inclusion of a summary of its opinion in this joint proxy statement/prospectus and the attachment of the full text of its opinion as Annex G.

Interests of Certain Extraction Directors and Executive Officers in the Mergers (see page 137)

In considering the recommendation of the Extraction board that Extraction stockholders vote to approve the Extraction merger proposal and the Extraction compensation proposal, Extraction stockholders should be aware that, aside from their interests as Extraction stockholders, Extraction’s directors and executive officers have interests in the mergers that may be different from, or in addition to, the interests of Extraction stockholders generally. These interests are described in more detail in the section entitled “The Extraction Merger — Interests of Certain Extraction Directors and Executive Officers in the Extraction Merger.” The Extraction board was aware of and considered these potential interests, among other matters, in evaluating and negotiating the Extraction merger agreement and the transactions contemplated therein, in approving the Extraction merger and in recommending the approval of the Extraction merger proposal and the Extraction compensation proposal. See “The Extraction Merger — Background of the Extraction and Crestone Peak Mergers” and “The Extraction Merger — Recommendation of the Extraction Board and Reasons for the Extraction Merger.” Extraction stockholders should take these interests into account in deciding whether to vote “FOR” the Extraction merger proposal and the Extraction compensation proposal. These interests are described in more detail below, and certain of them are quantified in the narrative and the tables below.

Interests of Certain Bonanza Creek Directors and Executive Officers in the Mergers (see page 143)

In considering the recommendation of the Bonanza Creek board that Bonanza Creek stockholders vote to approve the Extraction share issuance proposal, Bonanza Creek stockholders should be aware that, aside from their interests as Bonanza Creek stockholders, Bonanza Creek’s directors and executive officers have interests in the mergers that may be different from, or in addition to, the interests of Bonanza Creek stockholders generally. These interests are described in more detail in the section entitled “The Extraction Merger — Interests of Certain Bonanza Creek Directors and Executive Officers in the Mergers.” The Bonanza Creek board was aware of and considered these potential interests, among other matters, in evaluating and negotiating the Extraction merger agreement and the transactions contemplated therein, in approving the Extraction merger and in recommending the approval of the Extraction share issuance proposal. See “The Extraction Merger — Background of the Extraction and Crestone Peak Mergers” and “The Extraction Merger — Recommendation of the Bonanza Creek Board and Reasons for the Extraction Merger.” Bonanza Creek stockholders should take these interests into account in deciding whether to vote “FOR” the Extraction share issuance proposal. These interests are described in more detail below, and certain of them are quantified in the narrative and the tables below.

Board of Directors and Management of Bonanza Creek Following Completion of the Mergers (see page 145 and 202)

Upon completion of the Extraction merger, Mr. Benjamin Dell, chairman of the Extraction board, will serve as chairman of the board of directors of the combined company, and Eric Greager will serve as President and Chief Executive Officer of the combined company. Subject to the board’s election, other senior leadership positions of the combined company are anticipated to be filled by: Cyrus “Skip” Marter, Executive Vice President, General Counsel and Secretary; Dean Tinsley, Senior Vice President, Operations; Sandra K. Garbiso, Vice President and Chief Accounting Officer; Marianella Foschi, Chief Financial Officer; Brian Cain, Vice President, Environmental, Social and Corporate Governance; and Matt Owens, Chief Operating Officer.

Additionally, following the completion of the Extraction merger, the new Bonanza Creek board will increase to eight members, (i) four of whom will be designated by Bonanza Creek, which designees shall consist of Eric Greager, the President and Chief Executive Officer of Bonanza Creek, and three independent directors who shall be acceptable to Extraction, who are expected to be, subject to election, who are expected to be, subject to election, Carrie L. Hudak, Brian Steck, and Jeffrey E. Wojahn, and (ii) four of whom will be designated by Extraction, each of whom shall be independent and acceptable to Bonanza Creek, and one of whom shall be the

chairman of the board of directors of the combined company, who are expected to be, subject to election, Benjamin Dell as chairman of the board, Morris Clark, Carrie M. Fox and Howard A. Willard, III. Following the completion of the Crestone Peak merger, the board of the combined company will increase to nine members, one of whom will be designated by CPP Investments, who is expected to be, subject to election, James Trimble. See “The Crestone Peak Merger — Board of Directors and Management of Bonanza Creek Following Completion of the Crestone Peak Merger ” for a description of the full board of the combined company following the completion of the mergers.

Appraisal Rights and Dissenters’ Rights (see page 151 and 204)

No appraisal rights or dissenters’ rights will be available with respect to the mergers or the share issuances for Bonanza Creek stockholders or Extraction stockholders. Pursuant to the terms of the support agreement, the Crestone Peak Stockholder has waived any appraisal rights or dissenters’ rights in connection with the Crestone Peak merger under Crestone Peak’s organizational documents or Delaware law.

Material U.S. Federal Income Tax Consequences of the Extraction Merger (see page 146)

Assuming that the Extraction merger is completed as currently contemplated, Bonanza Creek and Extraction intend for the Extraction merger to qualify as a “reorganization” within the meaning of Section 368(a) of the Code. The obligation of Extraction to complete the Extraction merger is conditioned upon the receipt of an opinion from K&E, counsel to Extraction (or other legal counsel selected by Extraction and reasonably satisfactory to Bonanza Creek), in form and substance reasonably satisfactory to Extraction, to the effect that the Extraction merger should qualify as a reorganization within the meaning of Section 368(a) of the Code based upon the facts, representations, and assumptions set forth or referred to in such opinion. Provided that the Extraction merger qualifies as a reorganization within the meaning of Section 368(a) of the Code, a U.S. holder (as defined in “The Extraction Merger — Material U.S. Federal Income Tax Consequences of the Extraction Merger”) of Extraction common stock will not recognize gain or loss for U.S. federal income tax purposes upon the exchange of Extraction common stock for Bonanza Creek common stock pursuant to the Extraction merger, except with respect to any cash received in lieu of fractional shares of Bonanza Creek common stock.

Please see “The Extraction Merger — Material U.S. Federal Income Tax Consequences of the Extraction Merger” for a more detailed discussion of the material U.S. federal income tax consequences of the Extraction merger to U.S. holders of Extraction common stock. Tax matters are complicated and the tax consequences to a particular holder of Extraction common stock will depend on the facts of such holder’s situation. Each holder of Extraction common stock is strongly urged to consult with their tax advisor to determine the U.S. federal, state or local or non-U.S. income or other tax consequences of the Extraction merger applicable to such holder’s particular circumstances.

Accounting Treatment of the Mergers (see page 149 and 203)

Bonanza Creek, Extraction and Crestone Peak prepare their respective financial statements in accordance with GAAP. The accounting guidance for business combinations requires the use of the acquisition method of accounting for the mergers, which requires the determination of the acquirer, the purchase price, the acquisition date, the fair value of assets and liabilities of the acquiree and the measurement of goodwill, if any. Bonanza Creek will be treated as the acquirer for accounting purposes for the mergers.

Regulatory Approvals (see page 149 and 203)

Antitrust Clearance

The completion of the mergers is subject to antitrust review in the United States. Under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), and the rules promulgated

thereunder, the mergers cannot be completed until the parties to each of the Extraction merger agreement and Crestone Peak merger agreement have given notification and furnished information to the Federal Trade Commission (the “FTC”) and the United States Department of Justice (the “DOJ”), and until the applicable waiting period has expired or has been terminated.

In connection with the Extraction merger, on May 21, 2021, Bonanza Creek and Extraction each filed a premerger notification and report form under the HSR Act. The waiting period with respect to the notification and report forms filed under the HSR Act expired at 11:59 p.m., Eastern Time, on June 21, 2021.

In connection with the Crestone Peak merger, on June 25, 2021, Bonanza Creek and Crestone Peak each filed a premerger notification and report form under the HSR Act. The waiting period with respect to the notification and report forms filed under the HSR Act expired at 11:59 p.m., Eastern Time, on July 26, 2021.

At any time before or after consummation of the mergers, the FTC or the DOJ, or any state, could take such action under antitrust laws as it deems necessary or desirable in the public interest, including seeking to enjoin the completion of the mergers or seeking the divestiture of substantial assets of Bonanza Creek, Extraction or Crestone Peak or their respective subsidiaries. Private parties may also seek to take legal action under antitrust laws under certain circumstances.

Securities and Exchange Commission

In connection with the Extraction share issuance proposal, Bonanza Creek has filed a registration statement with the SEC under the Securities Act, of which this joint proxy statement/prospectus forms a part, that must be declared effective by the SEC and pursuant to which the issuance of shares of Bonanza Creek common stock issuable as Extraction merger consideration upon the Extraction effective time will be registered with the SEC.

New York Stock Exchange

In addition, the completion of the mergers is subject to approval for listing of the shares of Bonanza Creek common stock issuable pursuant to the mergers on the NYSE, subject to official notice of issuance.

Treatment of Extraction Equity Awards in the Extraction Merger (see page 150)

The Extraction merger agreement provides that each Extraction RSU Award will be assumed by Bonanza Creek and converted into a Converted RSU equal to the product of the number of Extraction common stock subject to the Extraction RSU Award immediately prior to the Extraction effective time multiplied by the exchange ratio, effective as of the Extraction effective time.

Effective as of the Extraction effective time, each Converted RSU shall continue to be governed by the same terms and conditions (including vesting and forfeiture) that were applicable to the corresponding Extraction RSU Award immediately prior to the Extraction effective time; provided that any Extraction RSU Award subject to performance-based vesting conditions shall continue to be measured pursuant to the same terms and conditions of the underlying Extraction RSU Award in effect as of immediately prior to the Extraction effective time; provided further that Extraction RSU Awards subject to performance-based vesting conditions held by certain Extraction Executives shall each provide that, in the event the Extraction Executive’s employment is terminated for death, disability, by Bonanza Creek for any reason other than for Cause (as defined in the applicable award agreement), or by the Extraction Executive for Good Reason (as defined in the applicable award agreement), in each case, on or within 12 months following the closing of the Extraction merger, the portion of such Extraction Executive’s Converted RSU award subject to performance-based vesting conditions shall, effective as of such Extraction Executive’s termination date, immediately vest in full based on deemed achievement of any

applicable performance goals at the maximum level of performance. Further, effective as of immediately prior to the Extraction effective time, each Extraction DSU Award held by a member of the Extraction board who is not a designee of Extraction for appointment to the Bonanza Creek board as of the Extraction effective time shall immediately vest in full.

For additional information regarding the treatment of Extraction equity awards, please see “The Extraction Merger — Treatment of Extraction Equity Awards in the Extraction Merger.”

Treatment of Extraction Warrants in the Extraction Merger and Description of Replacement Warrants (see page 150)

At the Extraction effective time, in accordance with the terms of the applicable warrant agreements, and in accordance with the terms of the Extraction warrants that are issued and outstanding immediately prior to the Extraction effective time, Bonanza Creek will execute a replacement warrant agreement and issue to each holder of the Extraction warrants a replacement warrant that will be exercisable for a number of shares of Bonanza Creek common stock equal to the number of shares of Bonanza Creek common stock that would have been issued or paid to a holder of the number of shares of Extraction common stock into which such Extraction warrant was exercisable immediately prior to the Extraction effective time. See the section titled “The Extraction Merger — Treatment of the Extraction Warrants in the Extraction Merger and Description of Replacement Warrants” for additional details relating to the replacement warrants.

Treatment of Crestone Peak Equity Awards in the Crestone Peak Merger (see page 201)

The Crestone Peak merger agreement does not provide for specific treatment of equity compensation awards in connection with the Mergers. Certain Crestone Peak employees hold profits interest and phantom equity awards that will become vested in connection with the Mergers under the terms and conditions of the governing equity compensation plans, but none of these awards are currently deemed to have a settlement value, therefore the Crestone Peak employees will not receive any special payments or settlements with respect to outstanding equity compensation awards in connection with the Mergers.

For additional information regarding the treatment of Crestone Peak equity awards, please see “The Crestone Peak Merger — Treatment of Crestone Peak Equity Awards in the Crestone Peak Merger.”

Listing of Bonanza Creek Common Stock; Delisting and Deregistration of Extraction Common Stock (see page 151)

It is a condition to the consummation of the mergers that the shares of Bonanza Creek common stock issuable pursuant to the mergers be approved for listing on the NYSE, subject to official notice of issuance.

Shares of Extraction common stock currently trade on the NASDAQ under the stock symbol “XOG.” When the Extraction merger is completed, the Extraction common stock will cease to be traded on the NASDAQ and will be deregistered under the Exchange Act. There is no established trading market for Crestone Peak common stock.

Upon consummation of the Extraction merger, Bonanza Creek’s name will be changed to “Civitas Resources, Inc.” and Bonanza’s stock symbol on the NYSE will be changed to “CIVI.”

No Solicitation; Changes in Recommendation (see page 167 and 218)

Subject to certain exceptions, the Extraction merger agreement and Crestone Peak merger agreement limit Bonanza Creek’s, Extraction’s and the Group Companies’ ability to solicit, knowingly encourage (including by way of providing information or taking any other action) or discuss or negotiate with any person with respect to a

Bonanza Creek competing proposal, an Extraction competing proposal, or a Crestone Peak alternative proposal, as applicable, (as defined herein). For a more detailed discussion on Bonanza Creek, Extraction and Crestone Peak and the ability of their boards of directors to consider other proposals, please see “The Extraction Merger Agreement — No Solicitation; Changes in Recommendation” and “The Crestone Peak Merger Agreement — No Solicitation; Changes in Recommendation.”

Conditions to Completion of the Extraction Merger (see page 183)

The obligations of Bonanza Creek and Extraction to consummate the Extraction merger are subject to the satisfaction (or waiver by all parties, to the extent permissible under applicable laws) of the following mutual conditions:

The obligation of Extraction to effect the Extraction merger is also subject to the satisfaction, or waiver by Extraction, of the following additional conditions:

The obligation of Bonanza Creek to effect the Extraction merger is also subject to the satisfaction, or waiver by Bonanza Creek, of the following additional conditions:

As further discussed under the section entitled “Risk Factors,” neither Bonanza Creek nor Extraction can be certain when, or if, the conditions to the Extraction merger will be satisfied or waived, or that the Extraction merger will be completed.

Conditions to Completion of the Crestone Peak Merger (see page 229)

The obligations of Bonanza Creek and Crestone Peak to consummate the Crestone Peak merger are subject to the satisfaction (or waiver by all parties, to the extent permissible under applicable laws) of the following mutual conditions:

The obligation of Crestone Peak to effect the Crestone Peak merger is also subject to the satisfaction, or waiver by Crestone Peak, of the following additional conditions:

The obligation of Bonanza Creek to effect the Crestone Peak merger is also subject to the satisfaction, or waiver by Bonanza Creek, of the following additional conditions:

As further discussed under the section entitled “Risk Factors,” neither Bonanza Creek nor Crestone Peak can be certain when, or if, the conditions to the Crestone Peak merger will be satisfied or waived, or that the Crestone Peak merger will be completed.

Termination of the Extraction Merger Agreement (see page 184)

Bonanza Creek and Extraction may mutually agree in writing to terminate the Extraction merger agreement before consummating the Extraction merger, even after approval of the Extraction share issuance proposal by the Bonanza Creek stockholders and of the Extraction merger proposal by the Extraction stockholders has been obtained.

In addition, either Bonanza Creek or Extraction may terminate the Extraction merger agreement if:

In addition, the Extraction merger agreement may be terminated under the following circumstances:

Expenses and Termination Fees Relating to the Termination of the Extraction Merger Agreement (see page 185)

Termination Fees Payable by Bonanza Creek

The Extraction merger agreement, as amended, requires Bonanza Creek to pay Extraction a termination fee of $22.5 million if:

In no event shall Extraction be entitled to receive more than one payment of the Termination Fee.

Termination Fees Payable by Extraction

The Extraction merger agreement requires Extraction to pay Bonanza Creek a termination fee of $37.5 million if:

In no event shall Bonanza Creek be entitled to receive more than one payment of the Termination Fee.

Expenses

Each of Bonanza Creek and Extraction shall pay its own expenses incident to preparing for, entering into and carrying out the Extraction merger agreement and the consummation of the Extraction merger and the transactions contemplated thereby, whether or not the Extraction merger shall be consummated, except that all filing fees paid in respect of the filings under the HSR Act in connection with the Extraction merger shall be borne equally by Bonanza Creek and Extraction.

Termination of the Crestone Peak Merger Agreement (see page 231)

Bonanza Creek and Crestone Peak may mutually agree in writing to terminate the Crestone Peak merger agreement before consummating the Crestone Peak merger, even after approval of the Crestone Peak share issuance proposal by the Bonanza Creek stockholders and the Crestone Peak merger by the Crestone Peak

Stockholder has been obtained. The Crestone Peak merger agreement shall be terminated automatically if the Extraction merger agreement is terminated for any reason.

In addition, either Bonanza Creek (after reasonably consulting with Extraction and considering, in good faith, Extraction’s views) or Crestone Peak may terminate the Crestone Peak merger agreement if:

In addition, the Crestone Peak merger agreement may be terminated under the following circumstances:

Expenses and Termination Fees Relating to the Termination of the Crestone Merger Agreement (see page 232)

Termination Fees Payable by Bonanza Creek

The Crestone Peak merger agreement requires Bonanza Creek to pay Crestone Peak a termination fee of $37.5 million; provided, that the Termination Fee payable by Bonanza Creek will be reduced to $15.0 million if a termination fee is also paid by Bonanza Creek or Extraction under the Extraction merger agreement, if:

In no event shall Crestone Peak be entitled to receive more than one payment of the Termination Fee.

Termination Fees Payable by Crestone Peak

The Crestone Peak merger agreement requires Crestone Peak to pay Bonanza Creek a termination fee of $37.5 million if:

In no event shall Bonanza Creek be entitled to receive more than one payment of the Termination Fee.

Expenses

Each of Bonanza Creek and Crestone Peak shall pay its own expenses incident to preparing for, entering into and carrying out the Crestone Peak merger agreement and the consummation of the Crestone Peak merger and the transactions contemplated thereby, whether or not the Crestone Peak merger shall be consummated, except that all filing fees paid in respect of the filings under the HSR Act in connection with the mergers shall be borne equally by Bonanza Creek, Extraction and Crestone Peak.

Specific Performance (see page 186 and 233)

In addition to any other remedy that may be available to each party, including monetary damages, prior to the termination of each of the Extraction and Crestone Peak merger agreements, each of the parties will be entitled to an injunction or injunctions, or any other appropriate form of specific performance or equitable relief, to prevent breaches or threatened breaches of the respective merger agreement and to enforce specifically the terms and provisions of the respective merger agreement.

Completion of the Mergers (see page 154 and 207)

Unless the parties agree otherwise, the closing of the Extraction merger will take place on a date that is three business days after the satisfaction or, to the extent permitted by applicable law, waiver in accordance with the terms of the Extraction merger agreement of the last of the conditions to closing (other than any such conditions which by their nature cannot be satisfied until the date of closing, but subject to the satisfaction or waiver of such conditions at the closing of the Extraction merger).

As soon as practicable following the closing, a certificate of merger with respect the Extraction merger, prepared and executed in accordance with the relevant provisions of the DGCL, will be filed with the Office of the Secretary of State of the State of Delaware. The Extraction merger will become effective at such time as the parties agree and shall specify in the certificate of merger.

Unless the parties agree otherwise, the closing of the Crestone Peak merger will take place on a date that is three business days after the satisfaction or, to the extent permitted by applicable law, waiver in accordance with the terms of the Crestone Peak merger agreement of the last of the conditions to closing (other than any such conditions which by their nature cannot be satisfied until the date of closing, but subject to the satisfaction or waiver of such conditions at the closing of the Crestone Peak merger).

As soon as practicable following the closing, a certificate of merger with respect to each of the Merger Sub 1 and Merger Sub 2 mergers, prepared and executed in accordance with the relevant provisions of the DGCL, will be filed with the Office of the Secretary of State of the State of Delaware. The Crestone Peak merger will become effective at such time as the parties agree and shall specify in the Merger Sub 2 merger certificate of merger.

Bonanza Creek, Extraction and Crestone Peak have targeted to complete the mergers in the fall of fiscal year 2021, subject to the receipt of the required Bonanza Creek stockholder approval and Extraction stockholder approval, applicable regulatory approvals and the satisfaction or waiver of the other conditions to the mergers, in each case, as set forth in each of the Extraction and Crestone Peak merger agreements (described under “The Extraction Merger Agreement — Conditions to Completion of the Extraction Merger” and “The Crestone Peak Merger Agreement — Conditions to Completion of the Crestone Peak Merger”).

Litigation Relating to the Mergers (see page 152)

Following the public announcement of the mergers, a putative stockholder lawsuit relating to the mergers was filed in the United States District Court for the Southern District of New York. The plaintiff seeks injunctive

relief enjoining the mergers, damages and costs and other remedies. The defendants have not yet been served nor have they answered or otherwise responded to the complaint.

For additional information, see the section entitled “The Extraction Merger — Litigation Relating to the Mergers.”

Description of the Rights (see page 279)

On November 9, 2020, in connection with the adoption of the tax plan, the Bonanza Creek board declared a dividend of one Bonanza Creek right for each of the issued and outstanding shares of Bonanza Creek common stock. Each Bonanza Creek right entitles the registered holder, subject to the terms of the tax plan, to purchase from Bonanza Creek one one-thousandth of a share of Bonanza Creek’s Series A Preferred Stock, par value $0.01 per share, at a price of $100.00, subject to certain adjustments.

Pursuant to the terms of the tax plan, upon the closing of the Extraction merger, the preferred stock purchase rights associated with each share of Bonanza Creek common stock will expire, which has the effect of terminating the tax plan on that date. As a result, the tax plan will automatically terminate in accordance with its terms upon the closing of the mergers.

The description and terms of the Bonanza Creek rights and Series A Preferred Stock are set forth in the tax plan by and between Bonanza Creek and Broadridge Corporate Issuer Solutions, Inc., as Rights Agent, and in the Certificate of Designations of Bonanza Creek’s Series A Junior Participating Preferred Stock, filed as Exhibits 3.1 and 4.1, respectively, to Bonanza Creek’s Current Report on Form 8-K filed on November  9, 2020, incorporated by reference herein.

Comparison of Stockholder Rights (see page 269)

Extraction stockholders and Crestone Peak stockholders receiving Bonanza Creek common stock in connection with the mergers will have different rights once they become Bonanza Creek stockholders due to differences between the governing documents of Bonanza Creek, Extraction and Crestone Peak. These differences are described in more detail in “Comparison of Stockholder Rights.”

Risk Factors (see page 51)

Before voting at the Extraction special meeting or the Bonanza Creek special meeting, you should carefully consider all of the information contained in, attached to, or incorporated by reference into this joint proxy statement/prospectus, including the specific risk factors under the heading “Risk Factors.”

SELECTED HISTORICAL CONSOLIDATED FINANCIAL DATA OF BONANZA CREEK

The following table presents selected historical consolidated financial data of Bonanza Creek for the periods indicated. The selected historical consolidated financial data as of December 31, 2020 and 2019 and for the years ended December 31, 2020, 2019 and 2018, is derived from Bonanza Creek’s audited consolidated financial statements and related notes thereto included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which is incorporated by reference into this joint proxy statement/prospectus. The selected historical consolidated financial data for the six months ended June 30, 2021, and 2020, and as of June 30, 2021, is derived from Bonanza Creek’s unaudited interim consolidated financial statements and related notes thereto contained in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, which is incorporated by reference into this joint proxy statement/prospectus.

The selected historical consolidated financial data as of December 31, 2017 (Bonanza Creek Successor) and 2016 (Bonanza Creek Predecessor), the period from April 29, 2017 through December 31, 2017 (Bonanza Creek Successor), the period from January 1, 2017 through April 28, 2017 (Bonanza Creek Predecessor) and for the year ended December 31, 2016 (Bonanza Creek Predecessor), is derived from Bonanza Creek’s audited consolidated financial statements and related notes thereto for such years, which have not been included or incorporated by reference into this joint proxy statement/prospectus. The selected historical consolidated financial data as of June 30, 2020, is derived from Bonanza Creek’s unaudited interim consolidated financial statements and related notes thereto contained in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, which has not been included or incorporated by reference into this joint proxy statement/prospectus.

In presenting the selected historical consolidated financial data in conformity with GAAP, Bonanza Creek is required to make estimates and assumptions that affect the amounts reported. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, which are incorporated by reference into this joint proxy statement/prospectus, for a detailed discussion of the accounting policies that Bonanza Creek believes require subjective and complex judgments that could potentially affect reported results. The unaudited financial statements as of and for the periods described above have been prepared on the same basis as the audited consolidated financial statements incorporated by reference in this joint proxy statement/prospectus and include all normal and recurring adjustments necessary for a fair statement of the information for the periods presented.

The selected historical consolidated financial data is only a summary and is not necessarily indicative of the future performance of Bonanza Creek, nor does it include the effects of the HighPoint merger (prior to the closing date of April 1, 2021), the Extraction merger and the Crestone Peak merger discussed in this joint proxy statement/prospectus. Factors that impact the comparability of the selected historical consolidated financial data is also noted in the following table. This summary should be read together with other information contained in “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and the consolidated financial statements and related notes of Bonanza Creek included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, which are incorporated by reference into this joint proxy statement/prospectus. For additional information, see the section entitled “Where You Can Find More Information” beginning on page 293.

We completed the acquisition of HighPoint on April 1, 2021, thus the results of HighPoint are included in our selected historical consolidated financial data as of this date through the period ended June 30, 2021 presented in the following table.

SELECTED HISTORICAL CONSOLIDATED FINANCIAL DATA OF HIGHPOINT

The following table sets forth selected historical consolidated financial data of HighPoint for the periods indicated. This disclosure does not include the effects of the HighPoint merger, the Extraction merger or the Crestone Peak merger. The information set forth below is only a summary and is not necessarily indicative of the results of future operations of HighPoint or the combined company, and the following information should be read in conjunction with, and is qualified in its entirety by, HighPoint’s consolidated financial statements, the related notes thereto and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in HighPoint’s Annual Report on Form 10-K for the year ended December 31, 2020, which is incorporated by reference into this joint proxy statement/prospectus.

The selected historical financial data as of December 31, 2020 and 2019 and for the years ended December 31, 2020, 2019 and 2018 has been derived from HighPoint’s Annual Report on Form 10-K for the year ended December 31, 2020. The selected historical financial data as of March 31, 2021 and for the three months ended March 31, 2021 and 2020 has been derived from HighPoint’s unaudited interim consolidated financial statements and related notes thereto as of and for the three months ended March 31, 2021, as filed by Bonanza Creek in an amendment to a Current Report on Form 8-K, which is incorporated by reference into this joint proxy statement/prospectus. The selected statement of operations data for the years ended December 31, 2017 and 2016 and the selected balance sheet data as of December 31, 2018, 2017 and 2016, is derived from HighPoint’s audited consolidated financial statements and related notes thereto for such years, which have not been included or incorporated by reference into this joint proxy statement/prospectus. The selected balance sheet data as of March 31, 2020 is derived from HighPoint’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020, which has not been included in or incorporated by reference into this joint proxy statement/prospectus. For additional information, see the section entitled “Where You Can Find More Information” beginning on page 293.

SELECTED HISTORICAL CONSOLIDATED FINANCIAL DATA OF EXTRACTION

The following table presents selected historical consolidated financial data of Extraction for the periods indicated. The selected historical consolidated financial data as of December 31, 2020 and 2019 and for the years ended December 31, 2020, 2019 and 2018 (each period, an Extraction Predecessor period), is derived from Extraction’s audited consolidated financial statements and related notes thereto included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which is incorporated by reference into this joint proxy statement/prospectus. The selected historical consolidated financial data as of June 30, 2021 (Extraction Successor), the period from January 21, 2021 through June 30, 2021 (Extraction Successor), the period from January 1, 2021 through January 20, 2021 (Extraction Predecessor) and the six months ended June 30, 2020 (Extraction Predecessor) is derived from Extraction’s unaudited interim consolidated financial statements and related notes thereto contained in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, which is incorporated by reference into this joint proxy statement/prospectus.

The selected historical consolidated financial data as of December 31, 2018, 2017 and 2016 and for the years ended December 31, 2017 and 2016 (each period, an Extraction Predecessor period), is derived from Extraction’s audited consolidated financial statements and related notes thereto for such years, which have not been included or incorporated by reference into this joint proxy statement/prospectus. The selected historical consolidated financial data as of June 30, 2020 (Extraction Predecessor), is derived from Extraction’s unaudited interim consolidated financial statements and related notes thereto contained in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, which has not been included or incorporated by reference into this joint proxy statement/prospectus.

In presenting the selected historical consolidated financial data in conformity with GAAP, Extraction is required to make estimates and assumptions that affect the amounts reported. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, which are incorporated by reference into this joint proxy statement/prospectus, for a detailed discussion of the accounting policies that Extraction believes require subjective and complex judgments that could potentially affect reported results. The unaudited financial statements as of and for the periods described above have been prepared on the same basis as the audited consolidated financial statements incorporated by reference in this joint proxy statement/prospectus and include all normal and recurring adjustments necessary for a fair statement of the information for the periods presented.

The selected historical consolidated financial data is only a summary and is not necessarily indicative of the future performance of Extraction, nor does it include the effects of the HighPoint merger, Extraction merger and Crestone Peak merger discussed in this joint proxy statement/prospectus. Factors that impact the comparability of the selected historical consolidated financial data is also noted in the following table. This summary should be read together with other information contained in “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and the consolidated financial statements and related notes of Extraction included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, which are incorporated by reference into this joint proxy statement/prospectus. For additional information, see the section entitled “Where You Can Find More Information” beginning on page 293.

SELECTED HISTORICAL CONSOLIDATED FINANCIAL DATA OF CRESTONE PEAK

The following table presents selected historical consolidated financial data of Crestone Peak for the periods indicated. The selected historical consolidated financial data as of December 31, 2020 and 2019 and for the years ended December 31, 2020 and 2019, is derived from Crestone Peak’s audited consolidated financial statements and related notes thereto included in its annual financial statements for the fiscal year ended December 31, 2020, which is attached to this joint proxy statement/prospectus as Annex K. The selected historical consolidated financial data for the six months ended June 30, 2021, and 2020, and as of June 30, 2021, is derived from Crestone Peak’s unaudited interim condensed consolidated financial statements and related notes thereto contained in its quarterly financial statements for the quarter ended June 30, 2021, which is attached to this joint proxy statement/prospectus as Annex L. The selected historical consolidated financial data for the year ended December 31, 2018 (unaudited) is derived from Crestone Peak’s consolidated financial statements and related notes thereto included in its annual financial statements for the fiscal year ended December 31, 2020, which is attached to this joint proxy statement/prospectus as Annex K. The selected historical consolidated financial data as of June 30, 2020 is not reflected in the selected historical consolidated financial data contained herein, as Crestone Peak was not previously required to prepare quarterly financial statements as a private company.

In presenting the selected historical consolidated financial data in conformity with GAAP, Crestone Peak is required to make estimates and assumptions that affect the amounts reported. See the notes to the consolidated financial statements included in its annual financial statements for the fiscal year ended December 31, 2020, and its quarterly financial statements for the quarter ended June 30, 2021, which are attached to this joint proxy statement/prospectus as Annexes K and L, respectively, for a detailed discussion of the accounting policies that Crestone Peak believes require subjective and complex judgments that could potentially affect reported results. The unaudited financial statements as of and for the periods described above have been prepared on the same basis as the audited consolidated financial statements attached to this joint proxy statement/prospectus and include all normal and recurring adjustments necessary for a fair statement of the information for the periods presented.

The selected historical consolidated financial data is only a summary and is not necessarily indicative of the future performance of Crestone Peak, nor does it include the effects of the mergers discussed in this joint proxy statement/prospectus. Factors that impact the comparability of the selected historical consolidated financial data are also noted in the following table. This summary should be read together with other information contained in the consolidated financial statements and related notes of Crestone Peak included in its annual financial statements for the fiscal year ended December 31, 2020 and its quarterly financial statements for the quarter ended June 30, 2021, which are attached to this joint proxy statement/prospectus as Annexes K and L, respectively. For additional information, see the section entitled “Where You Can Find More Information” beginning on page 293.