Profile: Bonanza Creek Energy Inc (BCEI.K)
27 Mar 2015
Bonanza Creek Energy, Inc., incorporated on December 2, 2010, is an oil and natural gas company engaged in the acquisition, exploration, development and production of onshore oil and associated liquids-rich natural gas in the United States. Its oil and liquids-weighted assets are concentrated primarily in the Wattenberg Field in Colorado, which the Company has designated the Rocky Mountain region, and the Dorcheat Macedonia Field in Southern Arkansas, which it has designated the Mid-Continent region. 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. It operates approximately 99% and holds an average working interest of approximately 89% of its proved reserves as of December 31, 2013.
The Company is focused on the horizontal development of significant resource potential from the Niobrara and Codell formations in the Wattenberg Field. It operates in the Wattenberg Field in the Rocky Mountain region and in the Dorcheat Macedonia Field in the Mid-Continent region. The two 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. As of December 31, 2013, its Wattenberg position consists of approximately 40,000 gross (35,500 net) acres. The Company owns approximately 22,000 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 currently produces light oil and CO2 from the Dakota/Lakota Group sandstones and oil from a shallow waterflood in the Pierre B sandstone. Oil production is trucked to market, while CO2 production is gathered to a nearby plant for processing. In the Dorcheat Macedonia Field, the Company averages an approximate 84% working interest and an approximate 70% net revenue interest on all producing wells, and the majority of its acreage is held by unitization, production or drilling operations. The Company owns approximately 190 gross producing wells. It owns additional interests 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.
Bonanza Creek Energy Inc
410 17th St Ste 1500
DENVER CO 80202-4453