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Bonanza Creek Changes Frac Design in the Wattenberg
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In its July 28, 2015 investor presentation, Bonanza Creek Energy Inc. detailed the latest changes to its operational strategy, including changing the frac design in the Wattenberg.
In its 2Q report, the company announced that it reduced the SRL frac stages to 25 (down from 28 stages). The reduction was implemented when the wells with 25-stage fracs performed "in-line" with the 28-stage wells drilled in the same area in 2014.
Cost Reduction OutlookThe company outlined its expected well costs for the third and fourth quarter of 2015 as well as 2016. Since 4Q2014, Bonanza Creek has cut well costs 20% to $3,600 in 2Q. By 2016, the company estimates that well costs will decrease to $2,700.
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Well ResultsBonanza Creek also reported the latest 30-90 day average IP rates on SRL…
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