- Bonanza Creek Energy (NYSE:BCEI) agrees to acquire leasehold interests in the Wattenberg field in Colorado from a privately held company for $175M plus up to 1.1M common shares.
- The assets consist of 34.6K net acres and net production of ~700 boe/day (85% oil); the average working interest in the acquired properties is 40%, but ~23K net acres have average working interests of 63%.
- BCEI also reports its strongest average initial production rate among its Niobrara B Bench wells; four wells reported an average of 477 boe/day for the first 30 days of production.