Extraction Oil & Gas, Inc. (the "Company" or "Extraction") is an independent oil and gas company focused on the acquisition, development and production of oil, natural gas and NGL reserves in the Rocky Mountain region, primarily in the Wattenberg Field of the Denver-Julesburg Basin (the "DJ Basin") of Colorado. The Company and its subsidiaries are focused on the acquisition, development and production of oil, natural gas and NGL reserves in the Rocky Mountain region, as well as the construction and support of midstream assets to gather and process crude oil and gas production focused in the DJ Basin of Colorado. Extraction is a public company listed for trading on the NASDAQ Global Select Market under the symbol "XOG".
Elevation Midstream, LLC ("Elevation"), a Delaware limited liability company and an unrestricted subsidiary of the Company, focused on the construction of gathering systems and facilities operations to serve the development of acreage in the Company's Hawkeye and Southwest Wattenberg areas. Midstream assets of Elevation are represented as the gathering systems and facilities line item within the consolidated balance sheet. As of December 31, 2018, these gathering systems and facilities operations are not in service, therefore, there are no such revenues for the year then ended.
The consolidated financial statements for the period January 1, 2016 through October 12, 2016 are based on the financial statements of the Company's accounting predecessor, Extraction Oil & Gas Holdings, LLC ("Holdings") prior to the corporate reorganization (the "Corporate Reorganization"), pursuant to which, in connection with the initial public offering of the Company (the "Offering" or "IPO"), (i) on October 11, 2016, a former subsidiary of Extraction Oil & Gas Holdings, LLC, Extraction Oil & Gas, LLC, converted into the Company, and (ii) on October 17, 2016, Holdings merged with and into the Company with Extraction as the surviving entity.