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40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. · Mar 10, 2012 · 26 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. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 1
    40th Annual Howard Weil Energy Conference March 2012
  2. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 2
    Bonanza Creek Overview North Park Basin Greater Wattenberg Field Market Cap(1): 717 million (Niobrara) (Niobrara & Codell) (1) Share Price : 18.13 611 Mboe 1P 20,817 Mboe 1P (2) Shares Outstanding : 39.56 million 100% Oil 59%…
  3. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 3
    Why Invest in Bonanza Creek Key Considerations Comment 29,292 net acres; offset operators include Noble Energy, Anadarko Petroleum, and PDC Energy Greater Wattenberg Horizontal Niobrara 215 horizontal drilling locations in the…
  4. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 4
    2012 Guidance Category Metric Total: 3,175 - 3,650 Mboe Production Average Net Daily Production: 8,700 - 10,000 Boe/d Percent Oil & NGLs: 69% Lease Operating: 7.20 - 8.20 Operating Costs and Expenses Severance and Ad Valorem:…
  5. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 5
    Impressive Growth Track Record Proved Reserves(1) (MBoe) Average Daily Production(1) (Boe/d) 50,000 10,000 RANGE 9,000 40,000 8,000 7,000 G 30,000 6,000 U I 5,000 D A 20,000 4,000 N 3,000 C E 10,000 2,000 1,000 0…
  6. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 6
    YE 2011 Proved Reserves & Resource Potential Proved Reserves at December 31, 2011(1) Oil NGL Gas Total 2011 PV10 % Oil % NGL % Gas % of Total Category (MBbls) (MBbls) (MMcf) (MBoe) (millions) PDP 7,327.4 790.6 18,759.0 11,244.5 26%…
  7. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 7
    2012 Capital Plan Six Rig Program: 2 horizontal rigs in Greater Wattenberg to drill 24 horizontal Niobrara wells 2 vertical rigs in Greater Wattenberg to drill 92 vertical wells 2 vertical rigs in Mid-Continent to drill 38 Cotton…
  8. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 8
    Operational Overview 9
  9. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 9
    Greater Wattenberg Hz Niobrara Operator Activity(1) Positive and Consistent Results PDC Wilson 34-34H IP: 758 BOEPD 30-day: 544 BOEPD Frank Trust 14-36H IP: 736 BOEPD 30-day: 501 BOEPD Frank Trust 11-11H IP: 437 BOEPD 30-day: 258…
  10. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 10
    Greater Wattenberg Hz Niobrara Results IP 24hr Rate per IP 30-day Completion Company Well Name Test Frac Stage Rate % Oil Notes Date (Boe/d) (Boe/d) (Boe/d) Bonanza Creek State Antelope 11-2HZ 7/24/11 738 46 362 72% 4,672 ft.…
  11. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 11
    Greater Wattenberg Horizontal Niobrara Economics Individual Well Profile Individual Well Type Curve(2) Boe/d 30-day IP (gross) 469 Boe/d 500 (1) EUR (gross) 312,000 Boe 400 % Oil 65% 300 Cost per Well 4.0 MM 200 100…
  12. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 12
    Greater Wattenberg Horizontal Upside Technology Driven Technological innovations continue to drive both lease-level returns higher and expand regional resource potential 1) Down-spacing 3) Extended Reach Laterals (9,100 +/- ft.)…
  13. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 13
    DJ Basin Verticals Predictable Development Inventory (Codell & Niobrara) Development Assumptions 65 Boe/d 30-day IP (gross) Individual Well Type Curve(3) 78,000 Boe EUR (gross)(1) 219 gross PUD locations(2) (Boe/d) Average 80.6%…
  14. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 14
    Mid-Continent: Southern Arkansas Acreage: 14,980 gross (13,474 net); 100% HBP ERA SYSTEM SERIES GROUP FORMATION CENOZOIC EOCENE Claiborne PALEOCENE Wilcox Operate 146 producing wells; 149 gross PUD locations(1) TERTIARY Midway…
  15. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 15
    DorcheatMacedonia Field Stable and Growing Production Base Development Assumptions Initial 30-day IP: 67 Boe/d; Peak 30-day IP: 103 Boe/d Type Curve(3) 152,000 Boe EUR (gross)(1) (Boe/d) 139 gross PUD locations(2) Average 80.7%…
  16. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 16
    Financial Overview 17
  17. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 17
    Capitalization & Liquidity Well Positioned for Continued Growth Capitalization (000s) As of December 31, 2011 Cash and Equivalents 2,090 Long-Term Debt: Credit Facility(1) 6,600 Total Long-Term Debt 6,600 Total Stockholders…
  18. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 18
    Recap Investment Highlights Niobrara horizontal development with substantial upside in multiple horizons Stable long life, oil weighted infill development with extensive vertical well inventory Proven management team Post…
  19. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 19
    Corporate Information Company Headquarters Investor Relations 410 17th Street, Suite 1500 James M. Masters Investor Relations Manager Denver, Colorado 80202 (720) 440-6121 (720) 440-6100 Main jmastersbonanzacrk.com (720)…
  20. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 20
    Appendix 21
  21. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 21
    Experienced Management Team Founder of predecessor companies Mike Starzer Prior: Executive and Engineering roles at Unocal and Berry Petroleum President & CEO B.S. in Petroleum Engineering, Colorado School of Mines; M.S. in…
  22. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 22
    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…
  23. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 23
    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…
  24. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 24
    North Park Basin Hz Niobrara Economic Sensitivities Development Assumptions 304 Boe/d 30-day IP (gross) 211,000 Boe EUR (gross)(1) 33,426 net acres; assume 320 acre spacing Average 78.8% WI; 65.8% NRI; 75% operated Type Curve…
  25. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 25
    California Region Acreage: 8,940 gross (5,012 net) 100% HBP Thermal development opportunity in Kern River and Midway Sunset 16.5 MMBoe original oil in place(1) Proved Reserves: 0.7MMBoe 100% crude oil 37% developed Operate…
  26. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Bonanza Creek Energy, Inc. – slide 26
    Company Hedge Positions(1) Contract Term Type Volume Floor Ceiling Price Commodity March 1 - December 31, 2012 collar 13,956 Bbl./Month 90.00 123.00 - WTI Crude NYMEX March 1 - December 31, 2012 collar 30,000 Bbl./Month 90.00…

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