Bonanza Creek Energy presents at EnerCom’s The Oil & Gas Conference®

Bonanza Creek Energy (ticker: BCEI) is Denver-based and is an exploration and production company focused on the extraction of oil and associated liquids-rich natural gas in the United States. Core operations are focused in the Wattenberg Field in the DJ Basin of Colorado and the Cotton Valley sands of southern Arkansas.

Q2 highlights

  • Second quarter sales volumes averaged 18.0 MBoe per day including the negative effects of a prior-period adjustment of 0.6 Mboe per day related to non-operated wells
  • Rapidly improving well performance yields over 1,000 economic drilling locations in Wattenberg
  • Full year 2018 Wattenberg production guidance raised while lowering full year capex guidance
  • Accretive Mid-Continent divestiture of $117 million bolsters balance sheet, improves unit operating costs and focuses operations on highest returning opportunities
  • Well head pressures effectively managed via Rocky Mountain Infrastructure’s multiple third-party gas processing optionality
  • Second quarter GAAP net income of $4.9 million, or $0.24 per diluted share; Adjusted net income of $24.2 million, or $1.18 per diluted share
  • Adjusted EBITDAX of $34.8 million, 17% growth over first quarter 2018

Breakout session at the EnerCom conference

During Bonanza Creek Energy’s breakout session at the 2018 EnerCom conference, management was asked the following questions:

  • Could you talk about the French Lake, such as the interest partner, how much is the interest allocate and the production projection in the year 2019?
  • Can you talk about your location and strategy about your net bases resources?
  • How are the locations divided between the legacy block area and French lake area?
  • Is there any way to speed up the development of French Lake by Introducing new partners or surface owners?
  • Could you share some news of the basin sand capacity in DJ basin?
  • Do you have any issues regarding fresh water for the fraction?
  • Could you discuss Colorado Initiative 97 and its potential influence on Colorado’s O&G industry?
  • Any inflation pressure on your service contracts, frac fleets?

You can listen to Bonanza Creek Energy’s presentation here.


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