If all goes to plan, Civitas Resources Inc. could become a giant among giants in the Colorado oil and natural gas world as it looks to merge another Denver Julesburg (DJ) Basin producer into its operations.

Civitas

DJ pure-plays Bonanza Creek Energy Inc. and Extraction Oil & Gas Inc. agreed to merge in early May. That came one month after Bonanza completed its takeover of another DJ pure-play, HighPoint Resources Corp. 

The ink is not yet dry on the Bonanza-Extraction tie-up, but it hasn’t stopped executives from making a bid for DJ independent Crestone Peak Resources. With the Crestone deal, estimated at $1.3 billion, Civitas could command more than one-half million net acres in the DJ with an estimated production base of 160,000 boe/d. 

“We are actively building one of the most...