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Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. · Aug 21, 2015 · 16 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. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 1
    Integrity Teamwork Transparency August 2015 Enercom Investor Presentation
  2. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 2
    Bonanza Creek Overview Market Cap(1): 0.4 billion Wattenberg Field(2) Arkansas 25,000 7,000 Enterprise Value(1): 1.2 billion Boe/d Boe/d Resilient asset base at lower prices 0 0 4Q 2Q 4Q 2Q 2011 2015 2011 2015 Low cost…
  3. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 3
    Evolution of Greater Wattenberg Development 2012 2015 2012 Niobrara B productive across acreage 2013 Niobrara C productive across acreage; Codell productive across 15,000 net acres 2014 Niobrara B / C stacking confirmed;…
  4. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 4
    Stacked Pay in High Margin Oil Window 70,000 net acres in Extension Area Zero exposure to urban population Near established infrastructure Blocky acreage attractive for long laterals Prospective for Up to Five Stacked Pay…
  5. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 5
    Contiguous Position Enables Efficient Development 97,000 gross (70,000 net) acres LEGEND Current BCEI Leasehold 2Q15 Delineation Wells 3Q15 Delineation Well BCEI BBG/EOG NBL CRZO PDCE OTHER 6
  6. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 6
    Composite Acreage Correlation to Wells Ranch Niobrara A Bench 3 Thinner and resistivity less developed vs B & C Benches 2 Niobrara B Bench 1 4 Consistent thickness and resistivity across BCEI leasehold 5 Niobrara C Bench 6 7 Good…
  7. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 7
    Gas Processing & Compression Upgrades 8
  8. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 8
    Oil Pipeline Infrastructure Expanding Differentials Tightening Rail Capacity by YE 2015 Operator Capacity Timing Pony Express Multiple 120 MBbl/d Existing DJ Lateral Plains 35 MBbl/d 3Q 2015 ARB Midstream 70 Bbl/d 4Q 2015 Grand…
  9. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 9
    Leading Relative HZ Niobrara Well Performance Creaming Curve(1) (Wattenberg HZ wells since 2013) Key Takeaways & Methodology 3,000 Superior 90-day cumulative well production history Creaming curves show rate of change and relative…
  10. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 10
    Wattenberg Niobrara Resilient to Low Oil Prices Selected U.S. Oil / Liquids Basin IRRs at the Strip and Theoretical IRR with 20% Reduction in Capex Internal Rate of Return (IRR) 40% IRR at the Strip IRR -20% Cost Deflation 35% 30%…
  11. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 11
    DJ Basin Predictability is Superior to Other Prominent Resource Plays 8x 7x 1st 90 Day Production: Ratio of P10/P90 6x 5x 4x 3x 2x 1x 0x Permian - Wolfcamp Marcellus Eagle Ford Utica Bakken DJ Basin DJ…
  12. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 12
    Reducing Well Costs to Enhance Economics 4,000 Niobrara/Codell Well Cost Improvements 4,500 -20% -22% 4,000 -33% -40% 3,500 (thousands) 4,500 3,000 4,000 3,600 3,500 2,500 3,000 2,700 2,000…
  13. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 13
    Strong Reserves Growth and Measured Booking Methodology Wattenberg 1P Reserves(1) 558 MMBoe Net 3P Reserves 70,000 Codell Wattenberg 1P 60,000 55% 7% 14% Arkansas 50,000 8% 40,000 60% 30,000 20,000 40% 32% 68% Niobrara C…
  14. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 14
    BCEI vs Basin Focused Peers Unit EBITDAX Net Debt / EBITDAX 35 4.5x Net Debt / LTM EBITDAX EBITDAX / Boe (MRQ) Peer Group 30 Peer Group 4.0x Avg: 25 Avg: 3.5x 3.1x 19.38 3.0x 20 2.5x 15 2.0x 10 1.5x 5 1.0x 0…
  15. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 15
    How to Thrive Through the Bottom of a Cycle Discretionary Deployment of Capital Majority of leasehold is HBP 14 million required to maintain leases not intending to drill in 2015 No long term rig, frac or sand commitments…
  16. Enercom The Oil and Gas Conference – Bonanza Creek Energy, Inc. – slide 16
    Investment Recap Company Headquarters Investor Relations 410 17th Street, Suite 1400 Ryan Zorn Contiguous Denver, Colorado 80202 (720) 440-6172 Acreage (720) 440-6100 rzornbonanzacrk.com James Edwards Resilient (720) 440-6136…

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