Current BCEI Stock Info

Bonanza Creek Energy (ticker: BCEI) reported a net loss for Q4 2017 of $5.8 million, or $(0.28) per diluted share. For 2017, the company posted a net loss of $2.4 million.

Production in the fourth quarter of 2017 reached 14.8 MBOEPD and Bonanza Creek averaged production of 16 MBOEPD for 2017.

The company spent approximately $110 million in 2017 and was within its guidance of $108-$115 million for the year – Bonanza noted higher than expected G&A costs due to the proposed SandRidge Energy, Inc. (ticker: SD) merger that was cancelled in December 2017.

During the fourth quarter, the company turned online two adjacent pads in its central legacy acreage, the J21 and T21. These two pads consisted of a total of five wells, two SRL and three XRL, and tested an average of approximately 1,700 pounds of proppant per lateral foot.

Bonanza Creek: Enhanced Completions Throughout Acreage, 2018 CapEx of $280 Million - $320 Million

Bonanza Completion Design Evolution, Mar. 2018

Bonanza’s year-end 2017 proved reserves were 102 MMBOE, which represented a 13% increase from 2016. The company’s year-end 2017 proved reserves were comprised of 52.9 MMBbls of oil, 22.8 MMBbls of NGLs and 157.7 Bcf of natural gas and were 53% proved developed.

During the fourth quarter, the company began a program to swap out existing compressors in the Wattenberg field to reduce its future rental fees. Compressor exchanges will continue into 2018, Bonanza said.

2018

For the three months ended March 31, 2018, the company expects production to be 16-16.6 MBOEPD. For the full year of 2018, the company forecasts 17.7-18.7 MBOEPD of production and a total CapEx of $280-$320 million.

Bonanza Creek: Enhanced Completions Throughout Acreage, 2018 CapEx of $280 Million - $320 Million

Bonanza Capital Program, Mar. 2018

At the beginning of 2018, the company turned online its 8-SRL F26 pad, which utilized an average of approximately 2,000 pounds of proppant per lateral foot and Bonanza also recently turned online its first French Lake well.

The company is currently drilling its four XRL B-28 pad on its eastern acreage and is completing its remaining seven French Lake wells. These remaining French Lake wells are expected to be turned online by the end of the second quarter.

Bonanza Creek: Enhanced Completions Throughout Acreage, 2018 CapEx of $280 Million - $320 Million

Bonanza Testing Enhanced Completions, Mar. 2018


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