Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


August 02, 2015 1:16 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 Executive Officer, President, Director and Member of Reserve Committee
Age: 46
Total Annual Compensation: $63.9K
Chief Financial Officer and Executive Vice President
Age: 49
Total Annual Compensation: $344.2K
Chief Operating Officer and Executive Vice President
Age: 55
Total Annual Compensation: $338.5K
Executive Vice President, General Counsel and Secretary
Age: 42
Total Annual Compensation: $287.5K
Chief Accounting Officer and Vice President
Age: 43
Total Annual Compensation: $254.5K
Compensation as of Fiscal Year 2014.

Bonanza Creek Energy, Inc. Key Developments

Bonanza Creek Energy, Inc., Q2 2015 Earnings Call, Jul 28, 2015

Bonanza Creek Energy, Inc., Q2 2015 Earnings Call, Jul 28, 2015

Bonanza Creek Energy, Inc. Reports Unaudited Financial and Operating Results for the Second Quarter and Cash Flow Results for the Six Months Ended June 30, 2015; Provides Sales Guidance for the Third Quarter of 2015; Updates Financial Guidance for 2015

Bonanza Creek Energy, Inc. reported unaudited financial and operating results for the second quarter and cash flow results for the six months ended June 30, 2015. Net revenue for second quarter 2015 was $90.4 million, compared to $151.7 million for second quarter 2014. Adjusted EBITDAX for second quarter 2015 was $74.0 million, compared to $97.4 million for the second quarter 2014. Reported net loss for second quarter 2015 was $41.2 million, or $0.83 per diluted share, compared to net income of $1.2 million, or $0.03 per diluted share, for second quarter 2014. Adjusted net loss for second quarter 2015 was $6.9 million, or $0.14 per diluted share, compared to adjusted net income of $20.7 million, or $0.52 per diluted share for second quarter 2014. Loss from operations was $46,423,000 compared to income of $38,641,000 a year ago. Loss from continuing operations before taxes was $66,171,000 compared to income of $2,067,000 a year ago. Loss from continuing operations was $41,164,000 or $0.83 per diluted share compared to income of $1,271,000 or $0.03 per diluted share a year ago. Adjusted net loss was $6,905,000 or $0.14 per diluted share compared to income of $20,746,000 or $0.52 per diluted share a year ago. For the six months, net cash provided by operating activities was $48,163,000 compared to $157,969,000 a year ago. Acquisition of oil and gas properties was $11,914,000 compared to $3,091,000 a year ago. Natural gas plant capital expenditure was $113,000 compared to $271,000 a year ago. Addition to property and equipment - non oil and gas was $649,000 compared to $3,989,000 a year ago. For the quarter, the company spud 19 gross operated (14.1 net) horizontal wells and tied 21 gross operated (18.6 net) horizontal wells into sales during the quarter. The company did not participate in any new non-operated activities during the second quarter. Spud and completion activity began the quarter ahead of the company's 2015 plan, but rainfall that was unseasonal in its consistency and magnitude during May and June slowed activity with poor road conditions and periodic flooding along the South Platte River. During May and June, the Company completed 8 gross (6.6 net) fewer SRL-equivalent wells than planned. For the second quarter, upstream capital costs incurred for the region were $138.6 million. During second quarter 2015, the company achieved average sales volumes of 28.0 Mboe/d, comprised of 60% crude oil, 17% NGLs and 23% natural gas, increasing total sales volumes by 14% over estimated 3-stream volumes in the second quarter of 2014. For the first 20 days of July, estimated sales volumes averaged 29.4 Mboe/d. During the second quarter 2015, Bonanza Creek spud 7 gross (5.9 net) Cotton Valley wells, tied 8 gross (7.6 net) wells into sales and performed 25 gross (20.9 net) recompletions. For the second quarter, capital costs incurred for the region were $19.4 million. The company is establishing forward quarter guidance for sales volumes in the third quarter of 28.6 Mboe/d. Based on year to date results, it is narrowing the range of its annual sales volume guidance by lowering the top end of the range from 30.7 Mboe/d to 29.0 Mboe/d resulting in a new mid-point of 28.4 Mboe/d. Annual ranges for LOE and Cash G&A are unchanged. Annual guidance for production taxes has been lowered from 10% to 6% based on levels year to date that were lower than budgeted and the anticipation of a non-recurring severance tax credit expected during the third quarter. Annual capital expenditure guidance is unchanged and expected at $400 - $440 million, due to higher net capital associated with RMI that was previously allocated to non-operated working interest partners ($22.5 million) and increased working interests on wells drilled within the 2015 capital program ($17.0 million). Offsetting these increases, the company believes decreased well costs will generate $40 million in savings relative to assumptions employed in the construction of the original 2015 budget.

Bonanza Creek Energy, Inc. Presents at Global Hunter Securities GHS 100 Energy Conference, Jun-23-2015 10:00 AM

Bonanza Creek Energy, Inc. Presents at Global Hunter Securities GHS 100 Energy Conference, Jun-23-2015 10:00 AM. Venue: JW Marriott Hotel, 151 W. Adams Street, Chicago, Illinois, United States.

Similar Private Companies By Industry

Company Name Region
Hydrotex Holdings, Inc. United States
Cardinal Gas Storage Partners, LLC United States
Resource Recovery Corporation, Inc. United States
Blair Oil Company United States
Abengoa Bioenergy of Indiana, LLC United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Bonanza Creek Energy, Inc., please visit www.bonanzacrk.net. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.