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Profile: DJ Basin E&P Sees Huge Production Jump as 2019 Begins
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Today we are taking a look at Crestone Peak Resources, a DJ Basin-focused private company backed by Canada Pension Plan Investment Board (CPPIB).
The company is led by CEO Tony Buchanon, who was the former COO of Bonanza Creek Energy (more on the company's management team is below).
Crestone Peak's AssetsCrestone's assets are comprised of 51,000 net acres in the DJ Basin (see map below), which it acquired from Encana Corp. back in June 2016 for $900 million.
A Look at Production - Sees Over 50% YOY GrowthThe company's production has skyrocketed in recent quarters, hitting over 53,500 BOEPD in Q4 2018 - an increase of over 50% YOY (note that Q1 2019 production levels are not fully represented in the chart below).
Completions Fueling Production Growth, Not RigsTaking a look at the…
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