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BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. · Jan 10, 2012 · 29 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 1
    BMO Capital Markets 9th Annual Unconventional Resource Conference January 10, 2012
  2. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 2
    Bonanza Creek Overview BCEI Overview Asset Portfolio Overview Market Capitalization: 568MM(1) Rocky Mountains Mid-Continent Proved Reserves (2) 9.1 MMBoe Proved Reserves (2) 22.9 MMBoe Two Core Operating Areas Production(3) 2,706…
  3. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 3
    Investor Highlights Key Considerations Comment Completed 4 Horizontal Wells: average 788 Boe/d 24-hour IP rate Concentrated footprint in Greater 29 29,292 292 net acres in Greater Wattenberg Wattenberg; offset operators incl…
  4. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 4
    Proved Reserves and Production Growth Proved Reserve Growth Production Growth 40,000 7,000 6,000 ction (boe/d) ves (Mboe) 30,000 5,000 4,000 net daily produc proved reserv 20,000 3,000 2,000…
  5. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 5
    Proved Reserves & Resource Potential Net proved reserves as of 12/31/2010 Oil Gas NGL Total PV10 Category (MBbls) (MMcf) (MBbl) (MBoe) 1/1/2012 Strip Pricing (M) PDP 4 840 4,840 12 699 12,699 521 7 478 7,478 166 680 5 166,680.5…
  6. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 6
    Low Cost & High Growth Across E&P Peers All-In F&D Costs Reserve Replacement (3-Year Average) (1) (3-Year Average) (2) ( / Boe) (%) 17.47 1,342 1,236 15.27 14.55 14.14 13.77 10.65 797 9.29 8.78 561 506 338 313…
  7. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 7
    Historic and Planned Drilling and Capex Gross Number Capex (1) of Wells Drilled (MM) 250 250 Planned Drilling Activity 2011 2012 219 Vert. Rockies 65 wells 93 wells 200 Hz Niobrara 4 wells 27 wells(2) 200 Mid-Con 42 wells 38…
  8. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 8
    2012 Capital Plan 2012 Capital Rig Program: 2 rigs in Greater Wattenberg to drill 24 horizontal Niobrara wells 2 rigs in Greater Wattenberg to drill 93 vertical wells 2 rigs in Mid Mid-Continent Continent to drill 38 Cotton Valley…
  9. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 9
    Industry Leading Leverage to Niobrara Shale Net Acres (000s) / Total Proved Reserves (MMBoe) (1) (%) Company focus predominantly in Greater Wattenberg Area 100 89 90 80 76 70 60 60 55 52 49 50 43 38 40 30 26 26 25…
  10. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 10
    Operational Overview 11
  11. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 11
    Greater Wattenberg Hz Niobrara Operator Activity(1) PDC Wilson 34-34H IP: 758 BOEPD 30-day: 544 BOEPD Frank Trust 14-36H IP: 736 BOEPD 30-day: 501 BOEPD Wells Ranch USX AE 7-99HZ Frank Trust 11-11H 30-day: 345 BOEPD IP: 437 BOEPD…
  12. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 12
    Greater Wattenberg Hz Niobrara Results IP 24hr Rate per IP 30-day Completion % Company Well Name Test Frac Stage Rate Notes Date Liquids (Boe/d) (Boe/d) (Boe/d) Bonanza Creek State Antelope 11-2HZ 7/24/11 738 46 362 72% 4,672 ft…
  13. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 13
    Greater Wattenberg Horizontal Niobrara Economic Sensitivities Individual Well Profile Individual Well Type Curve Boe/d(2) 30-day IP (gross) 469 Boe/d 500 EUR (gross)(1) 312,000 Boe 400 300 % Oil 65% 200 Cost per Well 4.0MM…
  14. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 14
    Greater Wattenberg Development Opportunities Technological innovations continue to drive both lease-level returns higher and expand regional resource potential Downspacing Extended Reach Laterals Horizontal 80-acre well spacing…
  15. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 15
    DJ Basin Vertical Economic Sensitivities (Codell/ Niobrara) Reserve Methodology Development Assumptions Individual Well Type Curve 65 Boe/d 30-day IP (gross) 78,000 Boe EUR (gross)(1) (Boepd(3)) 93 gross g oss PUDU locations oca…
  16. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 16
    Mid-Continent: Southern Arkansas Operate 138 producing wells (1 non-operated WI well); 188 gross PUD ERA SYSTEM SERIES GROUP FORMATION locations(1) CENOZOIC EOCENE PALEOCENE Claiborne Wilcox TERTIARY Midway Multiple reservoir…
  17. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 17
    DorcheatMacedonia Economic Sensitivities Reserve Methodology Development Assumptions Type Curve Initial 30-day IP: 67 Boe/d; Peak 30-day IP: 103 Boe/d 152,000 Boe EUR (gross)(1) (Boepd(3)) 179 gross PUD locations(2) 120 Average…
  18. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 18
    Financial Overview 19
  19. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 19
    Financial Philosophy Key Considerations Comment Hedging g g g g will be opportunistic Hedging Viewed as a cost, not opportunity to profit Hedging used to protect CAPEX Lease Operating Expense Mid-Continent Mid Continent…
  20. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 20
    Capitalization & Liquidity Capitalization As of September 30, 2011 As Adjusted (000s) Actual (post offering) Cash and Equivalents 153 24 003 24,003 Long-Term Debt: Credit Facility(1) 132,100 - Total Long-Term Debt 132,100…
  21. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 21
    Recap Investment Highlights Substantial exposure to Niobrara horizontal development; positive results as expected Stable long life, oil weighted development with numerous repeatable drilling opportunities Proven development…
  22. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 22
    Corporate Information Company Headquarters Investor Relations 410 17th Street, Suite 1500 James M. Masters Investor Relations Manager Denver Colorado 80202 Denver, (720) 440-6121 (720) 440-6100 Main jmastersbonanzacrk.com (720)…
  23. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 23
    Appendix 24
  24. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 24
    Experienced Management Team Co-founder of the predecessor company, Bonanza Creek Oil Company, LLC Mike Starzer Prior: Executive and Engineering roles at Unocal and Berry Petroleum President & CEO B.S. in Petroleum Engineering, g…
  25. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 25
    Cotton Valley Lenticular Oil Sands Focused completion technology Dorcheat Unit 37 Bbl/d Mcf/d Boe/d DORCHEAT UNIT 37 improves recovery Highly repeatable 30-day IP 93 1,326 314 Consistent historical results 1 Year Exit Rate 27 574…
  26. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 26
    Mid-Continent: Gas Processing Facilities General Overview Approximately 150 miles of gathering lines Nevada Processes minor quantities of third party natural gas Facilities interconnect into the CenterPoint Energy pipeline system…
  27. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 27
    North Park Basin Hz Niobrara Economic Sensitivities Reserve Methodology Development Assumptions 304 Boe/d 30-day IP (gross) 211 000 Boe EUR (gross)(1) 211,000 33,426 net acres; assume 320 acre spacing Average 78.8% WI; 65.8% NRI;…
  28. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 28
    California Region Acreage: 8,940 gross (5,012 net) 100% HBP November Production: 176 Boe/d(1) Proved Reserves: 1MMBoe 99% liquids 38% Proved Developed p Operate 41 gross producing wells 13 gross non-operated Thermal…
  29. BMO Capital Markets 9th Annual Unconventional Resource Conference – Bonanza Creek Energy, Inc. – slide 29
    Company Hedge Positions(1) Contract Term Type Volume Floor Ceiling Price Commodity January 1 - December 31, 2012 collar 13,956 Bbl./Month 90.00 123.00 - WTI Crude NYMEX January 1 - December 31, 2012 collar 30,000 Bbl./Month 90.00…

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