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
Nov. 5, 2014, 5:35 PM
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Aug. 7, 2014, 4:58 PM
Aug. 6, 2014, 5:35 PM
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May. 27, 2014, 3:59 PM
- Bonanza Creek Energy (BCEI -1.2%) is lower despite an earlier upgrade at Topeka Capital, which raised shares to Buy from Hold and boosted its price target to $68 from $50, viewing BCEI's recent $175M acquisition of Wattenberg assets as highly accretive, considering the acreage is worth more than $30K/acre on a developed basis.
- RBC also weighs in positively, raising its price target to $56 from $50, noting the deal bolsters BCEI's Wattenberg horizontal locations by 15%, which provides a hefty 25-year drilling inventory.
May. 22, 2014, 12:46 PM
May. 22, 2014, 8:45 AM
- Bonanza Creek Energy (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.
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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