CIVITAS RESOURCES, INC. — Director's Dealing 2017

May 3, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Bonanza Creek Energy, Inc. (BCEI)
CIK: 0001509589
Period of Report: 2017-04-28

Reporting Person: Fenoglio Scott A (SVP, Finance & Planning)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-04-28	Common Stock	D	25828	—	Disposed	0	Direct
2017-04-28	Common Stock	A	210	—	Acquired	210	Direct
2017-04-28	Common Stock	A	24382	—	Acquired	24592	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-04-28	LTIP Units	$	D	53478	Disposed		Common Stock (53478)	Direct
2017-04-28	Warrants	$71.23	A	778	Acquired	2020-04-28	Common Stock (778)	Direct
2017-04-28	Stock Options	$34.36	A	24382	Acquired	2027-04-28	Common Stock (24382)	Direct

Footnotes

F1: On December 23, 2016, the Issuer entered into a Restructuring Support and Lock-Up Agreement (the "RSA"), and on January 4, 2017, in accordance with the terms of the RSA, the Issuer and all of its subsidiaries (collectively with the Issuer, the "Debtors") filed voluntary petitions under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware (the "Court") to pursue the Debtors' Joint Prepackaged Plan of Reorganization Under Chapter 11 of the Bankruptcy Code (as amended, the "Prepackaged Plan"). On April 7, 2017, the Court entered an order confirming the Prepackaged Plan, which order was stayed until April 24, 2017. The Issuer emerged from Chapter 11 on April 28, 2017 (the "Effective Date"). On the Effective Date, all outstanding shares of the Issuer's common stock ("Old Common Stock"), and all equity awards with respect to Old Common Stock, were cancelled and extinguished.

F2: New shares of the Issuer's common stock, par value $0.01 per share ("New Common Stock"), were issued to certain of the Issuer's stockholders (including the Reporting Person) pursuant to the Prepackaged Plan in exchange for voluntary releases of certain claims and causes of action granted under the Prepackaged Plan.

F3: Represents restricted stock units with respect to New Common Stock granted to the Reporting Person on the Effective Date pursuant to the Issuer's Management Incentive Plan that are scheduled to vest in three equal installments on April 28, 2018, April 28, 2019 and April 28, 2020.

F4: Warrants with respect to New Common Stock were issued to certain of the Issuer's stockholders (including the Reporting Person) pursuant to the Prepackaged Plan in exchange for voluntary releases of certain claims and causes of action granted under the Prepackaged Plan.

F5: Represents stock options with respect to New Common Stock granted to the Reporting Person on the Effective Date pursuant to the Issuer's Management Incentive Plan that are scheduled to vest and become exercisable in three equal installments on April 28, 2018, April 28, 2019 and April 28, 2020.