Drilling & Completions | Forecast - Production | Hedging | Capital Markets | Capital Expenditure | Drilling Program - Wells | Capex Decrease | Capital Expenditure - 2020
Bonanza Creek to Drop Only Rig, Cease All Completion Activity
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Bonanza Creek Energy, Inc. updated its 2020 operating plan due to the unprecedented drop in commodity prices.
New 2020 Plan: The Company's operated drilling rig will finish the final well on its current pad this week and then be released Ongoing completion activities involving the two final XRL wells of an 8-well pad will be finished within two weeks and the pad will be brought online later this year. Further completion activities will be suspended Total 2020 capital lowered to $80 - $100 million excluding the completion of the two aforementioned pads in late 2020 - this is down from $225 originally planned (60% decrease) Full Year 2020 production is expected to be 24.0 - 25.0 MBoe/d (26-29 MBOEPD originally) The Company has approximately 90% of its 2020 oil production hedged with…- ✓ Full news archive — U.S., Canada & international coverage
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