Bison Oil & Gas

What Bison Oil & Gas does

Bison Oil & Gas is a Denver-based, private upstream oil and gas exploration and production company that operates exclusively in the Denver-Julesburg (DJ) Basin of Colorado and Wyoming. Founded in 2015 by CEO Austin Akers, the company is structured as a series of private-equity-backed partnership vehicles (Bison I through IV), each formed to acquire, develop, and ultimately monetize DJ Basin assets. The current operating entity, Bison Oil & Gas Partners IV, was launched in February 2023 with equity capital commitments in excess of $500 million from Quantum Energy Partners and operates over 285,000 net acres, 750 wells, and more than 55,000 net BOE per day, making it the largest private operator in the DJ Basin. Prior Bison entities have been successfully exited: Bison I in 2017, Bison II to Civitas Resources in February 2022 for approximately $346 million in cash and stock, and Bison III's Bakken position to a private buyer in June 2022.

Bison's operational technology stack emphasizes long-lateral horizontal drilling, simul-frac completion designs, in-basin sand sourcing, and electric-assisted facility design. Across its most recent 12-month development program Bison averaged 11,596-foot completed lateral lengths at $570 per completed lateral foot, with stated targets of 15,000-foot laterals at approximately $500/CLF. First-180-day production on the Boomslang 14 A and B pads averaged 625 BOE/day at 79% oil cut, drilled for less than $5 million per well. Bison also deploys big-data analytics and proprietary algorithms for opportunity identification (highlighted in the Denver Business Journal) and operates 24-hour remote emissions monitoring with rapid-detection and remote shut-in capabilities, instrument-air pneumatic controls, monthly optical gas imaging, and electric-assisted facilities that the company says reduce its emissions intensity below 99% of global operators.

Revenue is generated by selling crude oil, natural gas, and NGLs to downstream processors and marketers at prevailing market prices, supplemented by retained royalty and mineral interests in the DJ Basin. Bison IV's institutional LP base is anchored by Quantum Energy Partners, with operations supported by integrations including EnergyLink (royalty owner payments and JIB) and AppFolio (investor portal). The go-to-market is acquisition-led consolidation: since inception Bison IV has closed multiple acquisitions covering more than 75,000 net acres with current production exceeding 25,000 BOE/day, building on a repeatable franchise model of forming, scaling, and monetizing DJ Basin partnership vehicles.

Name

Bison Oil & Gas

Legal name

Bison Oil & Gas

Website

https://bisonog.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

Bison Oil & Gas is a Denver-based private upstream oil and gas operator focused exclusively on the DJ Basin of Colorado and Wyoming. Operated through PE-backed partnerships anchored by Quantum Energy Partners, it manages 285,000+ net acres and 750 wells producing 55,000+ BOE/day.

Ownership category

akta.pro rank

Product category

Upstream Oil & Gas Exploration and Production

NAICS

Crude Petroleum Extraction (21112), Natural Gas Extraction (211130)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Onshore Natural Gas E&P (Conventional Fields) (EUAAAAAG)

akta.pro secondary industries

Well Completion & Stimulation (Hydraulic Fracturing, Sand Control) (EUAAAAAJ), Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF)

Keywords

• Upstream oil and gas
• Exploration and production
• DJ Basin operations
• Horizontal well drilling
• Niobrara development

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D

Revenue model

1. Oil and Gas Production Revenue: Bison generates revenue through the exploration, development, and production of oil and natural gas in the DJ Basin of Colorado and Wyoming. The company operates over 285,000 net acres and 750 wells with production of over 55,000 net BOE per day, selling hydrocarbons to downstream processors and marketers.
2. Royalty and Mineral Interests: The company maintains royalty assets and midstream interests in the DJ Basin. Bison has hundreds of royalty owners and processes monthly revenue checks through EnergyLink platform.
3. Asset Monetization and Acquisitions: Bison generates returns through strategic asset sales and acquisitions. Previous funds (Bison I, II, III) have been successfully monetized through sales to operators like Civitas Resources ($346MM for Bison II).

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Bison Oil & Gas is an upstream exploration and production company that acquires, develops, and produces crude oil, natural gas, and natural gas liquids in the DJ Basin of Colorado and Wyoming. Through its current operating entity Bison Oil & Gas IV, the company runs over 750 wells across 285,000+ net acres, producing more than 55,000 net BOE per day primarily from long lateral horizontal wells in the Niobrara formation, and sells the resulting hydrocarbons to downstream processors and marketers. It also provides royalty owner payment processing and limited partnership investment vehicles to institutional capital partners.

Product overview

Bison Oil & Gas is a Denver-based upstream Oil & Gas Exploration and Production company operating primarily in the DJ Basin of Colorado and Wyoming. The company operates through its current entity Bison Oil & Gas IV, which manages over 285,000 net acres and 750 wells producing over 55,000 net BOE per day. The portfolio includes historical entities (Bison I, II, III, and BOG X) that have been successfully monetized, with prior operations in Bakken and DJ Basin. The company offers royalty owner services for hundreds of royalty owners and investor relations through its AppFolio-based portal. Operations focus on long lateral well development in the Niobrara formation with advanced drilling and completion technologies.

Differentiator

Problem solved

Functional benefit

Products and services

• Bison Oil & Gas IV Operations Current operating entity of Bison Oil & Gas, acquiring and developing oil and gas properties in the DJ Basin of Colorado and Wyoming. Operates over 285,000 net acres and 750 wells producing over 55,000 net BOE per day, making it the largest private company in the DJ Basin.
• DJ Basin Oil and Gas Production Upstream exploration and production operations in the Denver-Julesburg Basin spanning Colorado and Wyoming, including long lateral horizontal well development targeting the Niobrara formation. Hydrocarbons (crude oil, natural gas, NGLs) are sold to downstream processors and marketers.
• Royalty Owner Services Services for hundreds of royalty owners including monthly revenue check distribution and joint interest billings, delivered through the EnergyLink platform so owners can print check details or code and upload data into their accounting systems.
• Limited Partnership Investment Vehicles Limited partnership investment vehicles (Bison I, II, III, BOG X, and current Bison IV) offered to institutional capital partners, providing equity participation in DJ Basin acquisition and development programs, with prior vehicles historically monetized through asset sales (Bison II to Civitas Resources for ~$346MM).

Quantifiable outcome

• 11,596 foot average lateral length across 77 wells with $570/CLF cost
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability1 record

Feature4 records

Partnerships

Two partnerships are on record, tiered minor.

• Taproot Rockies Midstream, LLCminorStrategic or Co-development PartnerBison CEO Austin Akers sits on the board of Taproot Rockies Midstream, LLC, indicating a strategic relationship with midstream infrastructure provider in the Rocky Mountain region.
• Civitas ResourcesminorOthersCivitas Resources acquired Bison Oil & Gas II, LLC for approximately $346 million in cash and stock in February 2022, representing a successful asset monetization exit for Bison and its investors.

Scale indicators16 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• EOG Resources: Largest US-focused independent E&P with broad multi-basin operations including DJ Basin. Provides a benchmark for capital-efficient unconventional development and best-in-class F&D costs.
• Devon Energy: Major US independent with diversified unconventional operations including DJ Basin. Comparable for capital intensity, hedging strategy, and basin consolidation approach.
• Occidental Petroleum: Diversified US E&P with meaningful DJ Basin and Rockies footprint following Anadarko acquisition. Comparable for scaled, multi-basin unconventional operations and ESG positioning.

Direct peers

• Bonanza Creek Energy: Pre-merger DJ Basin pure-play now part of Civitas. Highly comparable in operating model and asset base to Bison before its acquisition.
• Crescent Point Energy: North American upstream operator with significant DJ Basin exposure post-SRC acquisition. Comparable as a public, scaled DJ Basin developer with similar lateral-length and completion programs.
• Civitas Resources: The largest pure-play DJ Basin operator, formed via the 2021 Bonanza Creek/Extraction merger and the 2022 acquisition of Bison II for ~$346MM. Most directly comparable as a DJ Basin-focused upstream operator pursuing similar Niobrara/Codell development with comparable scale.
• SRC Energy: Former DJ Basin pure-play acquired by Crescent Point Energy in 2020. Operated in the same basin with similar Niobrara-focused development program.
• Noble Energy: Long-standing DJ Basin operator with significant acreage position; now part of Chevron following the 2020 acquisition. Provides a major-operator comparison for basin economics and development practices.
• Extraction Oil & Gas: Pre-merger DJ Basin operator now part of Civitas. Comparable upstream business targeting the same Niobrara formation with similar long-lateral development strategy.

Others

• Quantum Energy Partners: Bison IV's primary capital partner and one of the largest PE providers to the global energy industry. Included as a peer/ecosystem participant given its capital, governance, and deal-sourcing influence over Bison's growth strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/bisonog

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bison Oil & Gas