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April 2019 Investor Presentation – Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. · Apr 10, 2019 · 19 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. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 1
    INVESTOR PRESENTATION April 2019
  2. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 2
    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…
  3. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 3
    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 48% production growth Q417 to Q418…
  4. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 4
    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…
  5. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 5
    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…
  6. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 6
    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…
  7. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 7
    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…
  8. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 8
    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.…
  9. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 9
    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…
  10. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 10
    Enhanced Completions & Spacing Driving Resource Recovery Uplift (1) Downspacing test at K-22 pad continues to 45 perform inline with offset results on a per K-22 Pad (2Q 2018) Well Density: 16 wells /section I-21 Pad (1Q 2019) Well…
  11. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 11
    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…
  12. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 12
    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…
  13. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 13
    Operational & Technical Capabilities Driving Competitive Advantage DJ Basin DJ Basin 20,000 400 Avg. Gross Revenues Per Lateral Foot(1) 9-month Cumulative Oil Production Per Lateral Foot(2) (September 2017 August 2018 First…
  14. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 14
    Oil EUR vs Avg. Horizontal Interwell Spacing 50 45 BCEI 40 NBL 35 PDCE Oil EUR (Mbbl/1,000') APC 30 SRCI Great Western XOG Cub Creek 25 HPR 20 15 10 5 0 0 100 200 300 400 500 600 700 800 Average…
  15. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 15
    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…
  16. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 16
    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 Proactive hedging…
  17. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 17
    Appendix 18 18
  18. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 18
    Hedged Volumes* Protect cash flow and reduce price volatility Weighted Average Combination of swaps and collars above prices that provide line-of-sight to Basis Differential to Floating MMBtu/ NYMEX Henry Hub free cash flow…
  19. April 2019 Investor Presentation – Bonanza Creek Energy, Inc. – slide 19
    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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