One-Page Deal Sheet
PE-backed Crestone Peak Acquires ConocoPhillips DJ Basin Asset
Crestone Peak Resources LLC ConocoPhillips
Announced Date
March 05,2020
Effective Date
June 01,2019
Close Date
March 03,2020
Transaction Type
Property
Enterprise Value (EV)($MM)
380
Asset/Basin:
["DJ Basin"]
TargetZones:
["Niobrara"]
Net Acres
98,000
% Oil:
75 % oil
Source Documents:
Location
Calculated Metrics( EV/Category)
Region
Rockies - DJ Basin
Country
United States
State
Colorado
County
Adams ,Arapahoe
Play
Production Production
11,000 Boe/d
Production Mix
77 % Oil
Calculated Metrics( EV/Category)
$/ Flowing
34,545
$/ Acre
3,878
Transaction Details:
Crestone Peak Resources, which is backed by CPPIB & Broe Group, has agreed to acquire ConocoPhillips' Niobrara assets located in the southern Denver-Julesburg (D-J) Basin (map available below).
The asset contains some 98,000 net acres in the Southern DJ Basin. ConocoPhillips operated 1 rig on the property in 2019, up to October when the company lay down the one rig. The company also completed/frac'd 26 wells in 2018 and 19 wells in 2019.
The deal allows Crestone to increase its production in the basin to 60 Mboe/d and oil mix to 50%.
- Production: 11,000 BOE/d with a 75% oil cut.
- Purchase price: $380 million +overriding royalty interests in certain future wells.
Transaction Map
Source : Shale Experts Mapping Database
Production
Rockies - DJ Basin Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Dec-18-2025 |
-  |
- |
Click here | Colorado | E&P |
| Nov-03-2025 |
- |
- |
Click here | Texas | E&P |
| Jan-11-2024 |
- |
- |
Click here | Colorado | E&P |
| Sep-06-2022 |
- |
- |
Click here | E&P | |
| Feb-28-2022 |
- |
- |
Click here | Colorado | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Dec-18-2025 | JAPEX Secures First U.S. Operated Position in $1.26B DJ Basin Acquisition of Verdad Resources | - |
- |
| Jan-11-2024 | Prairie Operating Bolt-On DJ Basin Assets From Nickel Road | - |
- |
| Feb-28-2022 | PDC Acquires DJ Basin E&P Great Western in $1.3B Deal | - |
- |