DENVER – Crestone Peak Resources, a leading Colorado-based producer of oil and natural gas, today announced that it has closed a transaction in the Denver-Julesburg Basin, to grow to nearly 150,000 net acres of leasehold in Colorado.
“Crestone continues to make significant investments in the future of Colorado’s production of oil and natural gas, by increasing our leasehold and empowering our team with the industry’s newest technologies and a disciplined approach to safety,” said Tony Buchanon, president and chief executive officer. “The acquisition emphasizes our ability to responsibly and efficiently produce the energy we all use every day.”
“We look forward to listening and learning as part of the process of introducing ourselves to these local communities,” said Buchanon. “We believe we are uniquely positioned to develop these assets responsibly through our emphasis on stewardship and proven experience collaborating with communities and regulators.”
The transaction was finalized on March 3, 2020 and included customary regulatory approvals and completion of closing conditions. TD Securities provided fully committed debt financing and served as financial advisor to Crestone.
About Crestone Peak Resources
Crestone Peak Resources is an independent energy company focusing on the acquisition, exploration, development, and production of oil and gas reserves in the Rocky Mountain Region. Formed in 2016, Crestone’s team of nearly 200 professionals has significant operating experience, deep ties to communities in Colorado, and is committed to operating safely and responsibly. Crestone’s acreage is located in the Greater Wattenberg Field of Colorado’s Denver-Julesburg Basin. The company is headquartered in Denver and has offices in Firestone and Watkins. For more information, visit https://www.crestonepeakresources.com/.