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January 2019 Analyst Presentation – Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. · Jan 17, 2019 · 18 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. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 1
    INVESTOR PRESENTATION January 2019
  2. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 2
    Bonanza Creek Pure Play Wattenberg Operator Wattenberg Target Proved Reserves 9/30/18 Niobrara/Codell 107 MMBoe (40% PD) Acres Production 3Q18 Highly contiguous, oily leasehold in rural Wattenberg 67,000 net 16.8 MBoe/d (60% oil)…
  3. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 3
    Growth & Value Opportunity 20.0 50% Wattenberg Growth Building a Track Record of Solid Growth 16.0 25% annualized production growth 2017 to 2018(1) 12.0 Mboe/d 50% production growth Q417 to Q418(1) 18.2 16.8 - 8.0 17.6 50%…
  4. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 4
    Wattenberg Assets 67,000 net / 92,000 gross acres in high-value multi-stack pay 60% oil & 20% NGLs Upstream + RMI gathering efficiencies Existing right-of-way, pipelines, and facilities does not require extra permitting or surface…
  5. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 5
    Rocky Mountain Infrastructure Rocky Mountain Infrastructure Assets 120 miles of gas gathering pipe 100 MMcf/d of gas gathering capacity 11 interconnects to downstream gas processors 6 compressor sites with 32k total horsepower 4 CPFs…
  6. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 6
    RMI Provides Consistent and Low Wellhead Pressure and Flow Assurance 500 BCEI/RMI vs Prevailing Field Pressures 400 Prevailing Field Pressure Line Pressure (psi) 300 200 BCEI/RMI Field Pressure 100 0 Jun-16 Sep-16 Dec-16…
  7. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 7
    2018 Capital Program Spud 84 gross / 64 net wells Turn online 49 gross / 37 net wells Capex: 275MM - 295MM Operational Focus High-intensity completion designs driving value creation Enhanced recovery flow back generating higher oil…
  8. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 8
    Building a Track Record of Execution Wattenberg Production Adjusted EBITDAX(1) 20.0 50% Growth 45.0 75% Growth 40.0 16.0 35.0 30.0 12.0 Mboe/d (MM) 18.2 25.0 16.8 - 20.0 38.4 8.0 15.1 34.8 14.1 12.6 13.7 17.6 15.0 29.7…
  9. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 9
    Higher-Intensity Completion Design Driving Value Creation 2018 Completion Design Cumulative Oil 90,000 Tighter stage and perforation architecture 2018 40% + Increased proppant intensity Cumulative Production (BO) 2017…
  10. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 10
    Enhanced Completions & Spacing Driving Resource Recovery Uplift in Legacy West North Platte 44-13 - Day 360 28.0 MBoe (58% oil) 30 F-26 - Day 230 11 wells/section density Downspacing test (K-22 pad) completed in 2Q18 23.5 MBoe (67%…
  11. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 11
    Encouraging Results from French Lake 18 Contiguous leasehold in rural Weld County 16 State Longhorn D14-11-12 Accommodates XRL (9,500) development 14 3-Stream Cumulative Production (Mboe/1,000') 12 Initial XRL appraisal…
  12. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 12
    2018 Guidance Focused on Profitable Growth FY18 2018 Program is weighted to the back half Guidance 4Q18 Pro-forma(4) FY18 50% Wattenberg growth in 4Q18 versus 4Q17 Production (Mboe/d) 17.6 18.2 15.8 16.0 17.5 17.7 50% annual…
  13. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 13
    Strong Financial Position COMMITTED TO MAINTAINING FINANCIAL STRENGTH AND FLEXIBILITY TO PARTICIPATE IN FULL-CYCLE VALUE CREATION Patient capital structure with low leverage 300 million of liquidity Pro-active hedging philosophy to…
  14. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 14
    Appendix 15 15
  15. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 15
    Guidance Wattenberg Operations 1Q18 2Q18 3Q18 4Q18(E) FY18(E) Wattenberg Wattenberg Wattenberg Wattenberg Wattenberg Production (Mboe/d) 13.7 15.1 16.8 17.6 18.2 15.8 16.0 Lease Operating Expense (/Boe) 6.00 6.01 4.26 3.90 - 4.30…
  16. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 16
    Hedged Volumes* Oil Hedges Natural Gas Hedges 10,000 9,330 25,000 9,000 8,500 8,500 8,500 19,100 8,000 20,000 7,000 58.32 7,000 6,000 59.33 59.94 59.94 15,000 12,600 2.17 12,505 5,000 58.07 10,000 10,000 4,000 10,000 3,000…
  17. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 17
    Adjusted EBITDAX Reconciliation Adjusted EBITDAX is a supplemental non-GAAP financial measure that is used by management to provide a metric of the Company's ability to internally generate funds for exploration and development of oil and…
  18. January 2019 Analyst Presentation – Bonanza Creek Energy, Inc. – slide 18
    12/31/17 PV-10 Reconciliation PV-10 values are non-GAAP financial measures as defined by the SEC. The Company believes that the presentation of PV-10 value is relevant and useful to its investors because it presents the discounted future…

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