Quarterly / Earnings Reports | Second Quarter (2Q) Update | Drilled Uncomplete (DUC) | Drilling Activity
Bonanza Creek Increases Drilling, Cuts Costs in 2Q
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Bonanza Creek has released its 2Q 17 financial and operational updates. Highlights include:
The company reported an average daily production of 15.9 MBoe/d
Net revenue was $44.1 million- 74% from oil.
The compnay completed its first pad of 4 DUCs. These 4,100-foot SRL wells were completed using ~2,000 pounds of sand per lateral foot with ~100-foot stage spacing.
The Company kicked off its 2017 drilling program at the end of July by spudding a three-well pad, consisting of one, 9,600 foot XRL well and two SRL wells.
The company expects the first pad to be turned into sales during the fourth quarter.
The company plans to drill and complete eight XRL wells in its French Lake area from 2017-2018.
Guidance is as follows:
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