Operational Updates
Bonanza Creek Hits 5,063 BOE/d Niobrara Production in Q3
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Bonanza Creek Energy Inc. has reported its third quarter 2012 operating and financial results.
Third quarter 2012 highlights, as compared to third quarter 2011, include:
• Production grew by 117% to 9,545 Boe/d, or 878.2 MBoe
•Crude oil production was up 140% to 6,306 Bo/d
•Net revenues increased by 118% to $59.6 million
•Adjusted net income increased 527% to $14.6 million, or $0.37 per diluted share
•EBITDAX was up 148% to $39.6 million, or $1.00 per diluted share
Adjusted net income and EBITDAX are non-GAAP financial measures. For a reconciliation of adjusted net income to net income and EBITDAX to net income, see Schedules 4 and 5 below.
Other highlights include:
•Ongoing leasing efforts added approximately 5,600 net acres in the Wattenberg Field in the third quarter (previously…
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