Mon, Jul. 27, 5:14 PM
Wed, Jul. 22, 3:57 PM
- Bonanza Creek Energy (BCEI -6.4%) says it is unaware of any fundamental reason, catalyst or material adverse event that would account for its significant relative stock price underperformance in recent weeks.
- BCEI says it is concerned about a significant increase in its short interest despite record high production rates, ample liquidity, a strong balance sheet and recurring evidence of sustainable capital cost reductions and field development efficiencies.
- The stock has been slashed by more than half in the past month, including a 22% drop this week alone.
Thu, May 7, 6:22 PM
Wed, May 6, 5:35 PM
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Wed, Apr. 15, 5:35 PM
Tue, Apr. 14, 5:36 PM
Fri, Mar. 13, 5:40 PM
Tue, Mar. 10, 12:46 PM
- Bonanza Creek Energy (BCEI +0.6%) is reiterated with an Outperform rating and $30 price target at Imperial Capital, which says BCEI is well positioned for the oil downturn.
- The firm cites measures BCEI recently undertook to shore up its balance sheet, as well as the company's successful Niobrara program.
- Imperial increases its 2015 EPS estimate to $0.02 from a loss of $0.22 and its 2015 adjusted EBITDA estimate to $293.6M from $284M.
Thu, Feb. 26, 5:22 PM
Wed, Feb. 25, 5:35 PM
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Tue, Feb. 3, 7:48 AM
- Bonanza Creek Energy (NYSE:BCEI) -5.1% premarket after launching a public offering of 4M shares of its common stock.
- BCEI says it will use part of the proceeds to repay all outstanding borrowings under its revolving credit facility and the remainder for general corporate purposes, which may include funding its drilling and development program and other capital expenditures.
Tue, Jan. 20, 10:49 AM
- Bonanza Creek Energy (BCEI -7.5%) says it will cut 2015 capital spending by 36%-38% Y/Y and invest $420M in its projects in the Wattenberg field and Arkansas.
- BCEI says the budget will maintain its 2014 exit rate sales volumes through the full year, achieving ~15% Y/Y annual growth.
- Expects to spend ~$380M in the Wattenberg field to achieve sales volumes of 23.7M boe/day for the year, ~23% growth.
Nov. 28, 2014, 10:28 AM
- Ladenburg Thalman throws in the towel on Oasis Petroleum (OAS -30%), Denbury Resources (DNR -14.9%), Resolute Energy (REN -18.3%) following OPEC's decision yesterday to hold production levels and the resulting tumble in crude oil, with WTI crude -6.4% to $69.95 per barrel.
- Some others: Bonanza Creek (BCEI -21.5%), Northern Oil & Gas (NOG -16.2%), Warren Resources (WRES -16.3%), Halcon Resources (HK -22%), Triangle Petroleum (TPLM -21%), Emerald Oil (EOX -26.4%), Kodiak Oil & Gas (KOG -19.3%).
Nov. 15, 2014, 8:25 AM
- Westwood fund manager Bill Costello likes stable companies with a strong balance sheet and especially positive cash flow, but he makes one exception to the rule: energy exploration and production companies.
- Costello is still big on the U.S. energy boom, and tells Barron's he is willing to invest in companies with negative cash flow as long as he can project a path to positive or neutral free cash flow in a three-year outlook.
- His two favorites: Synergy Resources (NYSEMKT:SYRG), which doubled its Y/Y production in the latest fiscal year and could more than double again this year, and Bonanza Creek Energy (NYSE:BCEI), which trades at just 5x EV/EBITDA.
- Both operate mainly in Colorado's Denver-Julesberg Basin, and both benefit from relatively cheap production costs of ~$60/bbl; Costello believes the oil price downturn will not hurt these two companies.
- Non-energy favorites are LAD, LFUS, BCC.
Nov. 11, 2014, 8:47 AM
- Bonanza Creek Energy (NYSE:BCEI) appoints Richard Carty as its new President and CEO, and names James Watt to the non-executive Chairman position.
- Carty has been BCEI's Chairman since the company's formation in 2010.
- Interim President and CEO Marvin Chronister will return to BCEI's board as an independent director.
Nov. 6, 2014, 7:11 PM
BCEI vs. ETF Alternatives
Bonanza Creek Energy Inc is an independent energy company. The Company is engaged in acquisition, exploration, development & production of onshore oil & natural gas in U.S. Its operations are focused in Rocky Mountain.
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