June 18, 2018 7:49 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Bonanza Creek Energy, Inc.

Company Overview

Bonanza Creek Energy, Inc. engages in the exploration, development, and production of onshore oil and related liquids-rich 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 McKamie Patton Field in southern Arkansas. As of December 31, 2017, the company had proved reserves of 102.0 MMBoe. Bonanza Creek Energy, Inc. was founded in 2010 and is headquartered in Denver, Colorado.

410 17th Street

Suite 1400

Denver, CO 80202

United States

Founded in 2010

156 Employees

Phone:

720-440-6100

Fax:

720-305-0804

Key Executives for Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. does not have any Key Executives recorded.

Bonanza Creek Energy, Inc. Key Developments

Ramon Curt Moore, Senior Vice President Announces Intention to Leave Bonanza Creek Energy, Inc, Effective May 20, 2018

On April 20, 2018, based on a mutual decision with the Board, Ramon Curt Moore announced his intention to leave his role as the Senior Vice President, Land of Bonanza Creek Energy, Inc. Mr. Moore's last day of employment with the company will be May 20, 2018.

Bonanza Creek Energy, Inc. Reports Unaudited Earnings and Production Results for the First Quarter Ended March 31, 2018

Bonanza Creek Energy Inc. reported unaudited earnings and production results for the first quarter ended March 31, 2018. For the quarter, the company reported oil and gas sales of $64,193,000 compared to $52,559,000 a year ago. Income from operations was $22,957,000 compared to the loss of $2,096,000 a year ago. Income from operations before taxes against $13,870,000 compared to the loss of $94,276,000 a year ago. Net income was $13,870,000 or $0.68 per basic and diluted share compared to the loss of $94,276,000 or $1.91 per basic and diluted share a year ago. Net cash provided by operating activities was $15,903,000 compared to $15,652,000 a year ago. Acquisition of oil and gas properties was $98,000 compared to $439,000 a year ago. Exploration and development of oil and gas properties was $37,664,000 compared to $3,425,000 a year ago. Adjusted net income was $21,831,000 or $1.07 per diluted share compared to $829,000 or $0.02 per diluted share a year ago. Adjusted EBITDAX was $29,725 million compared to $27,315 million a year ago. For the first quarter, the company reported total production equivalent of 1,509 MBoe compared to 1,580 MBoe a year ago. The company reported average daily production of 16.8 MBoe per day, decreased by 5% when compared to the first quarter of 2017 due to minimal drilling and completion activity throughout the first half of 2017. Product mix for the first quarter of 2018 was 59% oil, 17% NGLs, and 24% natural gas.

Bonanza Creek Energy, Inc., Q1 2018 Earnings Call, May 09, 2018

Bonanza Creek Energy, Inc., Q1 2018 Earnings Call, May 09, 2018

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