Extraction Oil & Gas, Inc. Announces Launch Of Initial Public Offering

DENVER, Sept. 29, 2016 /PRNewswire/ -- Extraction Oil & Gas, Inc. (NASDAQ: XOG) ("Extraction") announced today that it has launched an initial public offering of 33,333,333 shares of its common stock at an anticipated initial offering price between $15.00 and $18.00 per share pursuant to a registration statement on Form S-1 filed previously with the Securities and Exchange Commission ("SEC").  In addition, Extraction intends to grant the underwriters a 30-day option to purchase up to an additional 5,000,000 shares of its common stock.  The common stock has been authorized for listing on the NASDAQ Global Select Market under the ticker symbol "XOG," subject to official notice of issuance.

Credit Suisse Securities (USA) LLC, Barclays Capital Inc. and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Citigroup Global Markets Inc., KeyBanc Capital Markets Inc., SunTrust Robinson Humphrey, Inc., Wells Fargo Securities, LLC and RBC Capital Markets, LLC are also acting as book-running managers for the offering. The offering of these securities will be made only by means of a prospectus that meets the requirements of Section 10 of the Securities Act of 1933. A copy of the preliminary prospectus may be obtained from:

Credit Suisse Securities (USA) LLCAttn: Prospectus DepartmentOne Madison AvenueNew York, NY 10010Telephone: 1-800-221-1037Email: [email protected]

Barclays Capital, Inc. c/o Broadridge Financial Solutions1155 Long Island Ave.Edgewood, New York, 11717Telephone: 1 (888) 603-5847Email: [email protected]

Goldman, Sachs, & Co.Attn: Prospectus Department200 West StreetNew York, NY 10282Telephone: 1-866-471-2526Email: [email protected]

About Extraction Oil & Gas, Inc.

Extraction is an independent oil and gas company focused on the acquisition, development and production of oil, natural gas and natural gas liquids reserves in the Rocky Mountains, primarily in the Wattenberg Field of the Denver-Julesburg Basin (the "DJ Basin") of Colorado.

Important Information

A registration statement relating to these securities has been filed with the SEC but has not yet been declared effective.  These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement may be obtained free of charge at the SEC's website at www.sec.gov under the registrant's name, "Extraction Oil & Gas, Inc." This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Extraction's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Extraction's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Extraction does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Extraction to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with our initial public offering. The risk factors and other factors noted in our prospectus could cause our actual results to differ materially from those contained in any forward-looking statement.

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SOURCE Extraction Oil & Gas, Inc.