Profile: Bonanza Creek Energy Inc (BCEI.K)
24 Jun 2016
Bonanza Creek Energy, Inc. (Bonanza Creek), incorporated on December 2, 2010, is an independent energy company engaged in the acquisition, exploration, development and production of onshore oil and associated liquids-rich natural gas in the United States. The Company's oil and liquids-weighted assets are concentrated primarily in the Wattenberg Field in Colorado and the Dorcheat Macedonia Field in southern Arkansas. In addition, the Company owns and operates oil-producing assets in the North Park Basin in Colorado and the McKamie Patton Field in southern Arkansas.
The main areas in which the Company operates in the Rocky Mountain region are the Wattenberg Field in Weld County, Colorado and the North Park Basin in Jackson County, Colorado. Its Wattenberg Field operations are in the oil and liquids-weighted extension area of the Wattenberg Field targeting the Niobrara and Codell formations. The Company's Wattenberg position consists of approximately 91,000 gross (70,000 net) acres. It owns three-dimension (3-D) seismic surveys covering the majority of its acreage in the Wattenberg Field. Its estimated proved reserves in the Wattenberg Field are over 79,865 thousands of barrels of oil equivalent (MBoe). It has a total of approximately 620 gross producing wells, of which over 400 are horizontal wells, and its sales volumes are over 22,890 barrels of oil equivalent per day (Boe/d). The Company owns approximately 19,000 gross (17,000 net) acres in the North Park Basin in Jackson County, Colorado, all prospective for the Niobrara oil shale. It operates the North and South McCallum Fields, which produces light oil, which is trucked to market. In the North Park Basin, its estimated proved reserves are approximately 295 MBoe.
In southern Arkansas, it targets the oil-rich Cotton Valley sands in the Dorcheat Macedonia and McKamie Patton Fields. Its estimated proved reserves in the Mid-Continent region are approximately 21,185 MBoe. Productive reservoirs range in depth from 4,500 to 9,000 feet. Those reservoirs include the Smackover and the Pettet, but its primary development target is the Cotton Valley sands. The Company owns approximately 290 gross producing vertical wells. In the Dorcheat Macedonia Field, it has approximately 260 gross producing wells and its production is approximately 4,450 Boe/d. Its proved reserves in this field are approximately 20,070 MBoe. It has identified approximately 100 gross proved undeveloped reserves (PUD) drilling locations on its acreage in this area. It owns additional interests in the McKamie Patton Field in the Mid Continent region near the Dorcheat Macedonia Field. Its Mid-Continent gas processing facilities are located in Lafayette and Columbia counties in Arkansas. Its Arkansas gas processing facilities have approximately 40 Million Cubic Feet per Day (MMcf/d) of capacity with 86,000 gallons per day of associated natural gas liquid (NGL) capacity.
Bonanza Creek Energy Inc
410 17th St Ste 1500
DENVER CO 80202-4453