Exploration & Production | Top Story | Capital Markets | Capital Expenditure
Bonanza Creek Ups CapEx to Drill Wattenberg 'Super-Section'
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Bonanza Creek Energy, Inc. has reported an increase to its 2013 capital budget to drill a "super-section" test of stacked laterals in multiple zones from multi-well pads in the Wattenberg Field and to drill additional wells in southern Arkansas during the fourth quarter.
In addition, the expanded budget will accommodate increasing non-operated activity and infrastructure projects in the Wattenberg Field.
In total, Bonanza Creek estimates that its full-year capital expenditures will be $460 to $475 million, which the Company expects to fund from internally generated cash flows and borrowings on its credit facility.
Michael Starzer, Bonanza Creek's President and Chief Executive Officer, commented, "I am pleased with the execution and results of our 2013 investment program, where project…
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