Capital Markets | Capital Expenditure - 2017
Bonanza Creek Bankruptcy Update; 2017 Drilling Program
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The Company expects to resume drilling and completion activity. The activity program that was presented to the signatories of the RSA contemplates a one-rig program, with an intermittent second rig to satisfy leasehold obligations. The capital requirements expected for the proposed program would range from $160 $180 million for the time period from May to December 2017.
This program assumes drilling 61 and completing 53 net standard reach lateral equivalent ("SRLe") wells in its Wattenberg program, investing a modest amount on infrastructure, participating in economic non-operated wells, and investing $3 $5 million in Mid-Continent recompletions. The Company expects approximately 65% of its 53 SRLe completions to be XRLs. The proposed capital budget is dependent on…
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