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Annual Shareholders Meeting – Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. · Jun 6, 2013 · 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. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 1
    Annual Shareholders Meeting Expanding the Runway June 6, 2013
  2. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 2
    2012: Achieving New Heights Highlights: 2012 vs. 2011 115% Increase in Production 9,403 Boe/d 119% Increase in Revenue 205 million 172% Increase in Operating Cash Flow 157 million 91% of Revenue from Crude Oil &…
  3. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 3
    Strong Start to 2013 1Q Results 78.3 million in Revenue 52.3 million in EBITDAX 64% increase over 1Q12 66% increase over 1Q12 384 million of liquidity (1) 12,307 Boe/d 102 million cash 72% crude oil and liquids 330 million…
  4. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 4
    YE 2012 Proved Reserves Key Metrics(3) 21% Annual Reserve Growth 371% Reserve Replacement 236% Increase in Niobrara B reserves 19% PUD reserves converted into PDP 45% Proved Developed 63% Oil and Liquids 835MM SEC PV-10…
  5. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 5
    Peer Leading Stock Performance BCEI Stock Price 2012 BCEI vs. EPX Index YTD 2013 BCEI EPX 122% Increase in Market Value 1.5 billion market cap (1) Best performing E&P over 1 billion mkt cap December 2012: 1.1 billion January…
  6. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 6
    BCEI Secondary Equity Offering January 2013 Key Highlights BCEI placed 13 million shares on behalf of West Face Capital The book was approximately 3x over- subscribed 383.5 million 90% of face-to-face meetings participated…
  7. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 7
    BCEI Inaugural High Yield Offering April 2013 Key Highlights BCEI upsized the transaction from 250 million to 300 million Coupon set a new record low for first time upstream Single B issuers 300 million The book was approximately…
  8. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 8
    BCEI Inaugural High Yield Offering April 2013 Lowest Historical Upstream First-Time Single B and Below Energy Issuers Date Amount Priced Company Security Maturity (MM) Coupon At Issue YTW At Issue Rating 4-Apr-13 Bonanza Creek…
  9. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 9
    Impressive Growth Track Record Proved Reserves(1) (MBoe) Production(1) (Boe/d) +62%(2) 60,000 16,000 +21% 14,000 50,000 12,000 40,000 10,000 30,000 8,000 6,000 20,000 4,000 10,000 2,000 0 - 2007 2008 2009 2010 2011…
  10. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 10
    Operations Overview 11
  11. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 11
    Bonanza Creek Overview Wattenberg Field (1) Market Cap : 1.5 billion (Niobrara & Codell) Enterprise Value(1): 1.7 billion North Park Basin 31.9 MMBoe 1P(3) Public Float(2): 73% (Niobrara) 2012 Production: 4.5 MBoe/d 0.5 MMBoe…
  12. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 12
    Wattenberg Field Locator Map BCEI has operated in Wattenberg Field since 1999 Located in Extension Area 60% crude oil; liquids-rich natural gas Better economics than Gas Window Prospective for Codell and all benches of…
  13. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 13
    Wattenberg Niobrara & Codell Oil Focused NBL - Wells Ranch(1) 40-acre downspacing A bench / C bench / Codell Extended reach laterals OOIP / section of 74 MMBoe Niobrara B Bench (38 wells) Avg. IP30: 496 Boe/d (76% oil)…
  14. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 14
    BCEI Niobrara B Bench Well Performance 15
  15. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 15
    Niobrara B Bench Performance Improvement BCEI Reported Average IP30 Rates 510 40 Technical Improvements 500 35 Increased frac stages from 16 to 18 490 30 Increases reservoir wellbore communication 480 25 Wellcount Boe/d…
  16. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 16
    Wattenberg Expanding Resource Recovery Niobrara C Bench Present on all Wattenberg acreage BCEIs first Niobrara C Bench well: IP30 rate: 444 Boe/d (79% crude oil) IP60 rate: 383 Boe/d (74% crude oil) IP90 rate: 340 Boe/d (70% crude…
  17. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 17
    Wattenberg 3P Reserves & Location Inventory 247 MMBoe Net 3P Reserves Proved Reserves 32 60% crude oil / 40% wet gas MMBoe 32 MMBoe booked at YE2012 13 MMBoe PD 19 MMBoe PUD 107 MMBoe 108 MMBoe 215 MMBoe unbooked at…
  18. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 18
    Mid-Continent Operations (Arkansas) Provides free cash flow; reallocated to Wattenberg ERA SYSTEM SERIES GROUP FORMATION CENOZOIC EOCENE Claiborne PALEOCENE Wilcox Cotton Valley: 6,500 8,800 feet TERTIARY CRETACEOUS GULFIAN Midway…
  19. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 19
    Dorcheat-Macedonia Economics Type Well Economics 10-acre 5-acre EUR 148,000 Boe(1) 118,000 Boe % Oil & Liquids 65% 65% Cost per Well 1.8MM 1.8MM NPV-10 1.8MM 1.3MM Payout (Years) 1.6 1.8 Risked Locations 120 gross(2) 219 gross…
  20. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 20
    Financial Overview 21
  21. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 21
    Oil Weighted Production Result in High Margins Unit Cash Operating Costs (/Boe) Unit Revenue & Cash Margins (/Boe) 30 80 70 25 5.71 60 76.68 3.49 66.93 70.70 20 4.35 65.70 67.43 3.43 50 8.19 3.90 15 9.12 40 7.93 7.76 6.75 30…
  22. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 22
    Financial Summary Simplicity & Transparency = Successful Outcomes 23 Balanced approach to capital allocation Fund oily growth with oily cash flow and prudent balance sheet use Maintain block & tackle growth in the Mid-Continent with…
  23. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 23
    Expanding the Runway Total Resource Potential of 350 MMBoe Maintain peer leading production growth rates Accelerate development with increasing activity levels Ability to fund acceleration while maintaining a strong balance…
  24. Annual Shareholders Meeting – Bonanza Creek Energy, Inc. – slide 24
    Corporate Information Company Headquarters Investor Relations 410 17th Street, Suite 1400 James Masters Investor Relations Manager Denver, Colorado 80202 (720) 440-6121 (720) 440-6100 Main jmastersbonanzacrk.com (720) 305-0804…

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