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April 01, 2015 7:06 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Bonanza Creek Energy, Inc.

Company Overview

Bonanza Creek Energy, Inc., an independent energy company, engages in the acquisition, exploration, development, and production of onshore oil and associated liquids natural gas in the United States. The company’s oil and liquids weighted assets are located primarily in the Wattenberg Field in Colorado; and the Dorcheat Macedonia Field in southern Arkansas. It also owns and operates oil-producing assets in the North Park Basin in Colorado; and the McKamie Patton Field in Southern Arkansas. The company was founded in 2010 and is headquartered in Denver, Colorado.

410 17th Street

Suite 1400

Denver, CO 80202

United States

Founded in 2010

334 Employees

Phone:

720-440-6100

Fax:

720-305-0804

Key Executives for Bonanza Creek Energy, Inc.

Chief Financial Officer and Executive Vice President
Age: 48
Total Annual Compensation: $193.8K
Senior Vice President, General Counsel and Secretary
Age: 41
Total Annual Compensation: $250.4K
Chief Accounting Officer and Vice President
Age: 42
Total Annual Compensation: $233.7K
Compensation as of Fiscal Year 2013.

Bonanza Creek Energy, Inc. Key Developments

Bonanza Creek Energy Mulls Acquisitions

Bonanza Creek Energy, Inc. (NYSE:BCEI) is seeking acquisitions. Bill Cassidy, Chief Financial Officer of Bonanza Creek Energy, said in Bonanza Creek Energy earnings call on being asked about potential acquisitions, “No, not really. We've seen there are opportunities come up. We look at the opportunities, and if they're appealing, we'll go after them. We've got over 2,000 locations to drill in the basin, and we think we're attractively positioned from a contiguous acreage position. If we see bolt-ons, we'll go after them. We really haven't seen any changes in pricing at the moment.”

Bonanza Creek Energy, Inc. Reports Unaudited Earnings and Operating Results for the Fourth Quarter and Full Year Ended December 31, 2014

Bonanza Creek Energy, Inc. reported unaudited earnings and operating results for the fourth quarter and full year ended December 31, 2014. Net revenue for fourth quarter 2014 was $123.2 million, compared to $133.1 million for fourth quarter 2013. Crude oil and liquids accounted for approximately 84% of total revenue. Adjusted EBITDAX(2) for fourth quarter 2014 was $102.4 million, compared to $99.5 million for the fourth quarter 2013. Reported net loss for fourth quarter 2014 was $43.2 million, or $1.06 per diluted share, compared to net income of $25.4 million, or $0.63 per diluted share, for fourth quarter 2013. Adjusted net income for fourth quarter 2014 was $10.0 million, or $0.24 per diluted share, compared to adjusted net income of $25.5 million, or $0.65 per diluted share for fourth quarter 2013. Adjusted EBITDAX was $102.411 million against $99.49 million a year ago. For the year, revenue was $558.63 million against $421.86 million a year ago. Income from continuing operations was $16.98 million against $69.58 million a year ago. Net income was $20.28 million or $0.49 per share against $69.18 million or $1.71 per share a year ago. Net cash provided by operating activities was $327.72 million against $307.01 million a year ago. Acquisition of oil and gas properties was $179.56 million against $13.79 million a year ago. Adjusted net income for fourth quarter 2014 was $66.19 million, or $0.2.64 per diluted share, compared to adjusted net income of $78.06 million, or $01.98 per diluted share for fourth quarter 2013. Adjusted EBITDAX was $687.67 million against $292.40 million a year ago. During fourth quarter 2014, the company achieved average sales volumes of 25.9 Mboe/d, comprised of 65% crude oil, 5% NGLs and 30% natural gas (27.9 Mboe/d three-stream, comprised of 61% crude oil, 16% NGLs and 23% natural gas), increasing total sales volumes by 23% over fourth quarter 2013. For the full year 2014, the company reported sales volumes of 23.5 Mboe/d (25.3 Mboe/d three-stream), a 45% increase over 2013.

Bonanza Creek Energy, Inc. to Report Q4, 2014 Results on Feb 26, 2015

Bonanza Creek Energy, Inc. announced that they will report Q4, 2014 results After-Market on Feb 26, 2015

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