SRC Energy Inc. $322 Million Common Stock Offering

Davis Polk advised the joint book-running managers in connection with an SEC-registered common stock offering of 40,250,000 shares of common stock of SRC Energy, Inc. Included in the shares are 5,250,000 shares sold by SRC Energy Inc. pursuant to the underwriters’ exercise in full of their option to purchase additional shares. The net proceeds from the offering were approximately $312.4 million, which SRC Energy Inc. intends to use to finance a portion of its contemplated acquisition of additional assets in Weld County, Colorado, to redeem or repay a portion of its outstanding debt and for general corporate purposes. The common stock is listed on NYSE American under the symbol “SRCI."

Headquartered in Denver, Colorado, SRC Energy Inc. is a domestic oil and natural gas exploration and production company. Its core area of operations is in the Denver-Julesburg Basin, which encompasses Colorado, Wyoming, Kansas and Nebraska.

The Davis Polk capital markets team included partner Richard D. Truesdell Jr., counsel Jeffrey S. Ramsay and associates Brian Fox and Leigh Katz. Partner William A. Curran provided tax advice. Counsel David A. Zilberberg and associate Michael Comstock provided environmental advice. All members of the Davis Polk team are based in the New York office.