Bonanza Creek Energy Inc. (NYSE: BCEI) Anticipates Cash Proceeds of $255 million from Sale of Asset
DENVER, CO / ACCESSWIRE / January 27, 2016 / Bonanza Creek Energy Inc. (NYSE: BCEI) an independent energy company, engages in the acquisition, exploration, development, and production of onshore oil and associated liquids natural gas in the United States, recently announced its third quarter 2015 financial and operating results. For the third quarter of 2015, the Company reported average quarterly daily production of 29.0 MMBOE per day, a 14% increase from the third quarter of 2014 (5% increase adjusted for estimated 3-stream volumes), and a 4% sequential increase from the second quarter of 2015. Product mix for the quarter was unchanged from the previous quarter at 59% oil, 17% NGLs, and 23% natural gas. Additionally, the company announced it has entered into an agreement to divest its Rocky Mountain Infrastructure subsidiary. The Company had an excellent quarter, with production volumes above their guidance, continuous improvement programs driving cash costs meaningfully lower, and improved production from redesigned well completions. The Company entered into an agreement to sell the Rocky Mountain Infrastructure asset that was established in the second quarter, to a strategic midstream partner for total anticipated cash proceeds of $255 million.
For analyst comments and the full report on Bonanza Creek Energy Inc. please follow the link. There is no cost obligation required to view analyst brief: http://bit.ly/20rwJMQ
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the subject company in this report to be materially different from the statements made herein.
Content is researched, written and reviewed on a best-effort basis. Information in this release is fact checked and produced on a best efforts basis by Robert Borowski. An outsourced research services provider represented by Robert Borowski, provided Small Cap Street this article or report. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below. Small Cap Street is not entitled to veto, interfere or alter the articles, documents or report once created and reviewed by the outsourced research provider represented by Robert Borowski. The subject Company has not compensated Small Cap Street or Robert Borowski for the creation or dissemination of this report. Small Cap Street is the party responsible for issuing the press release and for hosting the full analyst report on Small Cap Street website. Robert Borowski is the author of research report. This information is submitted to increase awareness for the Small Cap Street brand to our subscriber base and the investing public.
If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at admin@SmallCapStreet.com. For any urgent concerns or inquiries, please contact us at admin@SmallCapStreet.com.
NOT FINANCIAL ADVICE
Small Cap Street makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.
NO WARRANTY OR LIABILITY ASSUMED
Small Cap Street is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. Small Cap Street has compensated Robert Borowski, fifty dollars for the distribution rights to disseminate analyst report. No liability is accepted by Small Cap Street whatsoever for any direct, indirect or consequential loss arising from the use of this document. Small Cap Street expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Small Cap Street does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
CFA(R) and Chartered Financial Analyst(R) are registered trademarks owned by CFA Institute.
SOURCE: Small Cap Street