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March 2018 Investor Presentation – Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. · Mar 15, 2018 · 24 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. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 1
    MARCH INVESTOR PRESENTATION March 2018 1
  2. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 2
    Bonanza Creek Overview Wattenberg Overview Target Proved Reserves YE17 Niobrara/Codell 90 MMBoe (47% PD) Market Cap(1): 550 million Acres Production 4Q17 67,000 Net 12.0 MBoe/d (56% oil) 4Q17 Production: 14.8 Mboe/d TTM Production…
  3. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 3
    STRATEGIC OVERVIEW ASSET OVERVIEW OPERATIONAL OUTLOOK FINANCIAL OVERVIEW
  4. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 4
    Creating a Culture of Rapid Improvement Apply rigorous returns-based criteria to allocate development program capital Utilize proven cutting edge technologies to maximize well performance and project economics Streamline cost…
  5. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 5
    2017 Execution: Setting the Stage for 2018 and Beyond 2017 Program Highlights Reduced cost structure to fit current commodity price environment; reduced G&A and LOE by 20 million annually Enhanced completion design significantly…
  6. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 6
    STRATEGIC OVERVIEW ASSET OVERVIEW OPERATIONAL OUTLOOK FINANCIAL OVERVIEW
  7. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 7
    Rocky Mountain Region: Wattenberg 67,000 Contiguous net acres o Oily multi-stack pay o Concentrated position suited for long-lateral development and field-level infrastructure North Acreage o Acreage is in rural portion of the…
  8. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 8
    Rocky Mountain Infrastructure STRATEGIC ADVANTAGES OF RMI Allows for lower wellhead line pressures and optimal production rates Infrastructure Asset Field-level infrastructure systems result in includes: better operating, capital,…
  9. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 9
    Mid-Continent Cash flow positive asset with 2.8 Mboe/d of production (57% oil) in 4Q17 Currently operating a recompletion program; recompletions provide low cost, high IRR investment opportunities Drilling opportunities include…
  10. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 10
    2017 Year-End Proved Reserves 120 2017 year-end proved reserves increased by 13% to 102 MMBoe 5.4 5.7 102.0 after commencing drilling and 100 4.1 3.7 completion program in 2H17 90.7 3.8 11.5 598 million in year-end PV-10 80…
  11. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 11
    STRATEGIC OVERVIEW ASSET OVERVIEW OPERATIONAL OUTLOOK FINANCIAL OVERVIEW
  12. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 12
    Wattenberg Focused Capital Program Company expects to drill 90 gross (68 net) and turn online 55 gross (38 net) wells in 2018 Non-operated program assumes 16 gross (3 net) wells turned-online in 2018 2018 Program Objectives…
  13. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 13
    Testing Enhanced Completions Throughout Acreage Rig 1 2017 Program proved concept of 1 1 XRL enhanced completions; 2018 program Expected First Production: 2Q18 North Acreage 2 5 SRLs (Slick-water test) utilizes those enhanced…
  14. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 14
    Wattenberg Completion Design Evolution 2018 PROGRAM WILL CONTINUE TO TEST LARGER COMPLETIONS; 2X LARGER THAN PREVIOUS DESIGNS Completion design metrics for typical 4,100 well 2013 2014 2015 2017/18 8-10 MM Lbs. 4MM 4MM 4MM Lbs.…
  15. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 15
    Encouraging Results From Enhanced Completions in the Central Acreage 12 Enhanced completion SRL wells are Day 123: exhibiting greater production 11.5 MBoe (70% oil) 3-Stream Cumulative production (MBoe/1,000') performance…
  16. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 16
    Strong Central Slick-Water Results Are Outperforming West Type Curve 25 Recent slick-water completion in the 3-Stream Cumulative Production (Mboe/1,000) Day 243: Companys central acreage is 20 20.3 MBoe (63% oil)…
  17. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 17
    French Lake Program Illustrative Joint Development Plan(1) PROVIDES OPPORTUNITY TO ADD XRL LOCATIONS TO INVENTORY Working with offset operator to develop French Lake utilizing an integrated upstream and midstream development…
  18. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 18
    2018 Guidance Focused on Prudent Growth Production 2018 Program expected to be back-end weighted; forecasting 30% growth in December exit rate 1Q18 (Mboe/d) 16.0 16.6 from 17 to 18 and greater than 50% annual FY18 (Mboe/d) 17.7 18.7…
  19. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 19
    STRATEGIC OVERVIEW ASSET OVERVIEW OPERATIONAL OUTLOOK FINANCIAL OVERVIEW
  20. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 20
    Strong Financial Position NO TERM DEBT, UNDRAWN REVOLVER, LIQUIDITY OF 205 MILLION Credit Facility 192 million borrowing base Undrawn at year-end Next borrowing base redetermination Spring 2018 Committed to maintaining financial…
  21. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 21
    Summary PROGRESSING TOWARD STRATEGIC GOALS Strategic Goal Progress Utilize proven cutting-edge technologies to Enhanced completions and recent slick-water test maximize well performance are outperforming legacy completion designs…
  22. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 22
    Thank you Company Contact James Edwards Director Investor Relations jedwardsbonanzacrk.com 720-440-6136 23
  23. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 23
    Appendix 24
  24. March 2018 Investor Presentation – Bonanza Creek Energy, Inc. – slide 24
    Hedged Volumes* Crude Oil Natural Gas (NYMEX WTI) (NYMEX Henry Hub) Weighted Avg Weighted Avg Barrels/day Price per Bbl MMBtu/day Price per MMBtu 1Q18 Swaps 3,172 53.60 6,000 3.36 Collar 2,000 42.00 / 52.50 5,600 2.75 / 3.43 2Q18…

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