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3Q 2015 Earnings and Operations Update – Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. · Nov 6, 2015 · 10 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. 3Q 2015 Earnings and Operations Update – Bonanza Creek Energy, Inc. – slide 1
    Integrity Teamwork Transparency November 6, 2015 3 rd Quarter Earnings and Operations Update
  2. 3Q 2015 Earnings and Operations Update – Bonanza Creek Energy, Inc. – slide 2
    Key Points Solid 3Q execution, production above guidance; costs down materially quarter over quarter Creating value through capital and production efficiencies Increased well performance from improved completions Rig days coming…
  3. 3Q 2015 Earnings and Operations Update – Bonanza Creek Energy, Inc. – slide 3
    3Q15 Highlights GAAP net loss of 112.3 million, or 2.25 per diluted share; Adjusted net loss of 3.6 million, or 0.07 per diluted share and adjusted EBITDAX of 73.3 million for 3Q15.(1) CAPEX Production 30 180 164 29 160 28 140…
  4. 3Q 2015 Earnings and Operations Update – Bonanza Creek Energy, Inc. – slide 4
    Increased Sand Enhances Well Economics Increase in sand loading to 1,500 lbs per lateral foot resulted in a 45% decrease to well payback period assuming current strip pricing. Bonanza Creek plans to implement increased sand loading…
  5. 3Q 2015 Earnings and Operations Update – Bonanza Creek Energy, Inc. – slide 5
    Infrastructure Improvements Improved Performance due to Pronghorn Gathering System/Windmill Line Start up of Windmill pipeline resulted in lower, more consistent line pressure on BCEIs eastern acreage. Upon start up, production…
  6. 3Q 2015 Earnings and Operations Update – Bonanza Creek Energy, Inc. – slide 6
    Delivering on Well Cost Reductions (A) Pro forma the RMI transaction, the Company is executing well costs of 3.0 million for SRL and 4.5 million for XRLs. (B) Drilling incentives from the RMI transaction will effectively reduce well…
  7. 3Q 2015 Earnings and Operations Update – Bonanza Creek Energy, Inc. – slide 7
    Increasing Drilling Efficiencies Significant decrease in drill times for both SRL and XRL wells in 2015 Average SRL Drill time Released a rig in 10 4Q15 due to reduced 5 7.8 cycle times; BCEI 6.3 5.9 0 now operating 1 rig in…
  8. 3Q 2015 Earnings and Operations Update – Bonanza Creek Energy, Inc. – slide 8
    Attractive RMI transaction Entered into an agreement to divest RMI to a strategic midstream partner for anticipated proceeds of 255 million. Transaction expected to close by December 31, 2015, but no later than January 31, 2016.…
  9. 3Q 2015 Earnings and Operations Update – Bonanza Creek Energy, Inc. – slide 9
    Adjusted Net Income (1) Reconciliation Three Months Ended September 30, 2015 Net Loss (112,298) Adjustments to net loss: Derivative gain (37,894) Derivative cash settlements 37,717 Impairment of proved properties 166,780…
  10. 3Q 2015 Earnings and Operations Update – Bonanza Creek Energy, Inc. – slide 10
    Adjusted EBITDAX(1) Reconciliation Three Months Ended September 30, 2015 Net Loss (GAAP) (112,298) Exploration 6,979 Depreciation, depletion and amortization 58,635 Impairment of proved properties 166,780 Abandonment and impairment…

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