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CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. · Feb 10, 2012 · 27 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. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 1
    Credit Suisse Energy Summit February 2012
  2. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 2
    Bonanza Creek Overview Market Cap(1): 664 million Share Price : (1) 16.80 Shares Outstanding : 39.56 million (2) North Park Basin Greater Wattenberg Field (Niobrara) (Niobrara & Codell) Greater Wattenberg Niobrara shale…
  3. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 3
    Why Invest in Bonanza Creek Key Considerations Comment 29,292 net acres; offset operators include Noble Energy and Anadarko Petroleum Greater Wattenberg Horizontal Niobrara 215 horizontal drilling locations in the Greater…
  4. CREDIT SUISSE ENERGY SUMMIT – 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. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 5
    Impressive Growth Track Record Proved Reserves (MBoe) Average Daily Production (Boe/d) 40,000 10,000 RANGE 9,000 8,000 30,000 7,000 G TBD 6,000 U 2 / 2012 I 20,000 5,000 D A 4,000 N 3,000 C 10,000 E 2,000 1,000 0…
  6. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 6
    YE 2010 Proved Reserves & Resource Potential Net Proved Reserves as of December 31, 2010 Oil Gas NGL Total PV10 Category (MBbls) (MMcf) (MBbls) (MBoe) 1/1/2012 Strip Pricing (M) PDP 4,840 12,699 521 7,478 166,681 PDNP 2,594 7,375…
  7. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 7
    Highest Leverage to Horizontal Niobrara Net Acres (000s) / Total Proved Reserves (MMBoe) (1) (%) 100 Companies with horizontal Niobrara focus predominantly in the Greater Wattenberg Area 89 90 80 76 70 60 60 55 52 49 50…
  8. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 8
    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…
  9. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 9
    Operational Overview 10
  10. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 10
    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…
  11. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 11
    Greater Wattenberg Hz Niobrara Results IP 24hr Rate per IP 30-day % Completion Company Well Name Test Frac Stage Rate Crude Notes Date (Boe/d) (Boe/d) (Boe/d) Oil Bonanza Creek State Antelope 11-2HZ 7/24/11 738 46 362 72% 4,672…
  12. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 12
    Greater Wattenberg Horizontal Niobrara Economics Individual Well Profile Individual Well Type Curve(2) Boe/d 30-day IP (gross) 469 Boe/d 500 EUR (gross)(1) 312,000 Boe 400 % Oil 65% 300 200 Cost per Well 4.0 MM 100 NPV-10…
  13. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 13
    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.)…
  14. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 14
    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) 93 gross PUD locations(2) (Boe/d) Average 78.8%…
  15. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 15
    Mid-Continent: Southern Arkansas Operate 138 producing wells; 188 gross PUD locations(1) ERA SYSTEM SERIES GROUP FORMATION CENOZOIC EOCENE Claiborne Multiple reservoir targets, primarily Cotton Valley; 4,000 7,000 TD TERTIARY…
  16. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 16
    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) 179 gross PUD locations(2) Average 79.7%…
  17. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 17
    Financial Overview 18
  18. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 18
    Capitalization & Liquidity Well Positioned for Continued Growth Capitalization As of September 30, 2011 As Adjusted (000s) Actual (post offering) Cash and Equivalents 153 24,003 Long-Term Debt: Credit Facility(1) 132,100 -…
  19. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 19
    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…
  20. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 20
    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)…
  21. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 21
    Appendix 22
  22. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 22
    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…
  23. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 23
    Cotton Valley Lenticular Oil Sands Focused completion technology Dorcheat Unit 37 DORCHEAT UNIT 37 Bbl/d Mcf/d Boe/d improves recovery Highly repeatable 30-day IP 93 1,326 314 Consistent historical results 1 Year Exit Rate 27 574…
  24. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 24
    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…
  25. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 25
    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…
  26. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 26
    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) November 2011 Production: 176 Boe/d Proved Reserves: 1MMBoe 99%…
  27. CREDIT SUISSE ENERGY SUMMIT – Bonanza Creek Energy, Inc. – slide 27
    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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