Extraction Oil & Gas, Inc. announced that it has commenced a cash tender offer to purchase any and all of its 7.875% senior unsecured notes due 2021 (the “2021 Notes”). As of January 18, 2018, there was $550 million aggregate principal amount of 2021 Notes outstanding. The tender offer is being made pursuant to an offer to purchase, dated January 18, 2018, and a related letter of transmittal and notice of guaranteed delivery. The tender offer will expire on January 24, 2018, unless extended (the “Expiration Time”). Tendered 2021 Notes may be withdrawn at any time before the Expiration Time. Holders of 2021 Notes that are validly tendered and accepted at or prior to the Expiration Time, or who deliver to the depositary and information agent a properly completed and duly executed notice of guaranteed delivery and subsequently deliver such 2021 Notes, each in accordance with the instructions described in the offer to purchase, will receive total cash consideration of $1,065.07 per $1,000 principal amount of 2021 Notes, plus any accrued and unpaid interest to, but not including, the settlement date, which is expected to be January 25, 2018, subject to satisfaction of the Financing Condition described herein. The tender offer is contingent upon, among other things, Extraction’s successful completion of a proposed debt financing transaction, the gross proceeds of which will be at least $600 million (the “Financing Condition”). The tender offer is not conditioned on any minimum amount of 2021 Notes being tendered. Extraction may amend, extend or terminate the tender offer in its sole discretion. Concurrently with the launch of the tender offer, Extraction is exercising its right to optionally redeem any 2021 Notes not validly tendered and purchased in the tender offer, pursuant to the terms of the Indenture relating to the 2021 Notes, conditioned upon and subject to satisfaction of the Financing Condition.