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4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. · Feb 27, 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. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 1
    INVESTOR PRESENTATION February 2019
  2. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 2
    Disclaimer: Forward Looking Statements and Non-GAAP Information This presentation contains various statements, including those that express belief, expectation or intention, as well as those that are not statements of historical fact,…
  3. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 3
    Bonanza Creek Pure Play Wattenberg Operator Wattenberg Target Proved Reserves 12/31/18 Niobrara/Codell 116.8 MMBoe (42% PDP) Highly contiguous, oily leasehold in rural Wattenberg Acres Production 4Q18 Over 1,000 future economic…
  4. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 4
    Growth & Value Opportunity 28.0 30% Production Growth 2018 to 2019 24.0 Wattenberg Production (Mboe/d) Building a Track Record of Solid Growth in Wattenberg 24.0 - 20.0 48% Production Growth 20.0 48% production growth Q417 to…
  5. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 5
    Building a Track Record of Execution Wattenberg Production Adjusted EBITDAX & EBITDAX Margin(1) 20.0 50.0 70.0% 48% Growth 63.9% 52.0% EBITDAX Margin (/Boe) 48.7% 60.0% 16.0 40.0 50.1% 47.4% 46.6% 43.3% 43.4% 50.0% 12.0…
  6. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 6
    Wattenberg Assets 65,000 net / 92,000 gross acres in high-value multi-stack pay 60% oil & 20% NGLs Upstream + RMI gathering efficiencies Contiguous acreage in rural Weld County No municipalities overlapping our acreage Over…
  7. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 7
    Rocky Mountain Infrastructure Rocky Mountain Infrastructure Assets 140 miles of pipelines 100 MMcf/d of gas gathering capacity 11 interconnects to 4 midstream gas processors 6 compressor sites, 30k total horsepower capacity 4 CPFs…
  8. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 8
    RMI Provides Consistent and Low Wellhead Pressure and Flow Assurance 500 BCEI/RMI vs Prevailing Field Pressures Line Pressure (psi) 400 Prevailing Field Pressure 300 200 BCEI/RMI Field Pressure 100 0 Mar-17…
  9. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 9
    2019 Capital Program Capex: 230MM - 255MM with primary focus in Legacy West & Central 2019 D&C Capex: 210MM - 220MM 55% SRL / 45% XRL gross development D&C: 3.5 - 4.0MM SRL / 5.6 - 6.1MM XRL Proppant: 2,000 - 2,250 lbs/ft vs avg.…
  10. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 10
    Higher-Intensity Completion Design Driving Value Creation Cumulative Oil 2018 Completion Design 100,000 Tighter stage and 2018 38% + perforation architecture 80,000 Cumulative Production (BO) Increased proppant intensity…
  11. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 11
    Enhanced Completions & Spacing Driving Resource Recovery Uplift(1) Downspacing test at K-22 pad continues to 45,000 perform inline with offset results on a per K-22 Pad (2Q 2018) Well Density: 16 wells /section I-21 Pad (1Q 2019)…
  12. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 12
    Encouraging Results from French Lake 25 Contiguous leasehold in rural Weld County Accommodates XRL (9,500) development 20 3-Stream Cumulative Production (Mboe/1,000') Initial XRL delineation wells are encouraging 6 of 8…
  13. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 13
    High Intensity Stimulation Designs Driving Enhanced Well Performance(1) Legacy West Type Curves Legacy Central Type Curves 180,000 180,000 1,030 Mboe EUR 160,000 160,000 930 Mboe EUR 140,000 140,000 Cumulative Boe Cumulative…
  14. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 14
    2019 Guidance Focused on Profitable Growth & Operational Flexibility(1) Current program provides for production growth FY18 FY19 in excess of 30% while maintaining ample Guidance(2) Actuals Guidance liquidity and a strong balance…
  15. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 15
    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 as of 12/31/18 Pro-active…
  16. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 16
    Appendix 16 16
  17. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 17
    Hedged Volumes* Oil Hedges Natural Gas Hedges 12,000 25,000 22,500 22,500 21,709 9,830 20,739 10,000 8,828 9,000 9,000 20,000 8,000 57.84 15,000 59.16 2.20 59.92 59.92 6,000 5,000 2.15 10,000 2.13 2.13 4,000 3.13 54.51/…
  18. 4Q 2018 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 18
    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…

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