Capital Markets | Capital Expenditure
Bonanza Creek Details Q2 Production Rates; Up 36% YOY at 24.4 MBOEPD
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Bonanza Creek Energy has detailed a preliminary update on its 2Q production and operations.
- Q2 production increased 36% YOY to approximately 24.4 MBOEPD, with oil representing 62% and liquids representing 78% of total sales volumes
- Second quarter capital expenditures totaled $81.7 million
Eric Greager, the Company's President and Chief Executive Officer, said: "Bonanza Creek delivered strong second quarter production performance and the team continues to drive improvements in our cost structure. The capex increase in Q2 is the result of our drilling and completion activities pacing ahead of schedule. We expect to be on schedule through the second half of the year, and we reiterate our annual capex guidance of $230 to $255 million." Greager concluded, "We continue to be very pleased with the results of our development program, and we look forward to providing additional details on our earnings call in a few weeks."
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