NEW YORK , May 10, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Extraction Oil & Gas, Inc. ("Extraction" or the "Company") (NASDAQ: XOG) in connection with the proposed merger of the Company with Bonanza Creek Energy, Inc ("Bonanza Creek") (NYSE: BCEI). Under the terms of the merger agreement, Extraction shareholders will receive 1.1711 shares of Bonanza Creek common stock for each Extraction share that they own, representing implied per-share merger consideration of approximately $43.85 based upon Bonanza Creek's May 7, 2021 closing price of $37.44 . Upon consummation of the transaction, both current Extraction and Bonanza Creek shareholders will own approximately 50% of the newly combined company. The transaction is valued at approximately $2.6 billion .

If you own Extraction shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

http://www.weisslawllp.com/XOG

Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16 th Floor
New York , NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

WeissLaw LLP is investigating whether (i) Extraction's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates Extraction's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com

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SOURCE WeissLaw LLP