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2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. · Aug 9, 2021 · 16 slides

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Slides

  1. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 1
    INVESTOR PRESENTATION August 2021
  2. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 2
    Bonanza Creek Pure-Play DJ Basin Operator DJ Basin Highly contiguous, oily acreage in rural Weld County Target Proved Reserves 6/30/21 Niobrara/Codell 170 MMboe (63% PDP) Strong financial position Acres Production 2Q21 261,000 gross…
  3. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 3
    Track Record of Performance Production & Capex Pre-Hedge Adjusted EBITDAX & Margin(1) 44.0 50 Net Production Capex Net Debt - 300 120 80% 41.0 66% 66% 69% 42 42 66% 63% 61% 64% 70% 250 100 61% 59% 40 57% 56% 55% 53% 60%…
  4. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 4
    and Managing Within Commodity Cycle Signal Response Results WTI Oil Cash Capex LOE Production EBITDAX(2) Leverage Price G&A(1) 203.7 +41% -13% +8% -19% 23.5 +33% 65.23 275.3 -17% 5.50 -32% 56.99…
  5. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 5
    Top-Tier BCEI TSR & ROCE vs Best of U.S. E&P Long-Term Total Shareholder Return (1) Long-Term Return on Capital Employed (2) 100% 20% BCEI is the only US 80% public E&P in the top 5 10% 60% of both TSR and ROCE 40% over this…
  6. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 6
    Strong BCEI Oil Recoveries Drive Strong Returns DJ Basin 12-Month Cumulative Oil Production per 1,000' Lateral Feet 50 (Jun 2018 to May 2021) 18,000 45 16,000 40 12-month Cumulative Oil Production per 1000' NBL 14,000 35…
  7. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 7
    Achieving BCEI + HPR Synergy Savings Ahead of Schedule Expected BCEI + HPR Synergy Savings upon Closing BCEI + HPR Synergy Savings Achieved PV10 ( millions) Recurring One-time 31 million 100 (1) in 2021 35 15 All-In…
  8. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 8
    2021 Guidance (BCEI + HPR) Full year 2021 capex guidance of 150 - 170 million Actuals Guidance Includes completion of 45 gross (39.9 net) drilled, uncompleted Guidance 2Q 2021 3Q 2021 (DUC) wells; all to IP in 2021 Completion…
  9. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 9
    ESG Commitment Meet and exceed Colorado air emission standards and groundwater monitoring regulations Reduced carbon footprint via pipeline infrastructure, reduced truck traffic, Leak Detection and Repair (LDAR), and Storage Tank…
  10. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 10
    Appendix 12 12
  11. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 11
    Company Contacts Brant DeMuth EVP, Chief Financial Officer Tel: (720) 440-6117 Email: bdemuthbonanzacrk.com Scott Landreth Senior Director, Finance, Investor Relations and Treasurer Tel: (720) 225-6679 Email:…
  12. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 12
    Analyst Coverage Firm Analyst Contact Info Capital One Phillips Johnston 504-593-6163 / phillips.johnstoncapitalone.com KeyBanc Leo Mariani 512-872-7875 / leo.marianikey.com Seaport Nick Pope 646-535-7673 / npopeseaportglobal.com…
  13. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 13
    Hedged Volumes Protect balance sheet and reduce realized price volatility Preference for two-way collars and puts 15 15 (1) Hedges as of 8/9/2021
  14. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 14
    2Q 2020 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…
  15. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 15
    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…
  16. 2Q 2021 Earnings Presentation – Bonanza Creek Energy, Inc. – slide 16
    Recurring Cash G&A Reconciliation Recurring cash G&A is a supplemental non-GAAP financial measure that is used by management to provide only the cash portion of its G&A expense, which can be used to evaluate cost management and operating…

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