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
- ABCO, ACET, AEL, AGO, AIRM, AL, ALIM, AMRN, ANAC, ANET, APEI, ARC, AUQ, BBRG, BCEI, BEBE, BNFT, BPZ, BRKR, BRS, CFN, CLVS, CPST, CSC, CVT, DAR, DIOD, DIS, DVA, DXCM, EAC, EBS, ECOM, ECPG, ED, EGOV, ELON, ENOC, ENV, EVC, EZPW, FF, FI, FICO, FIVN, FNGN, FSLR, FTEK, FWM, FXCM, GST, GXP, HCI, HGR, HNSN, HPTX, HTGC, IGT, INFI, JJSF, KING, KOG, KTOS, LGF, LNT, LOCO, MATX, MDRX, MDVN, MITK, MM, MNST, MNTX, MRC, MSCC, MTD, NES, NFG, NKTR, NOG, NU, NVDA, NVDQ, OLED, ONTY, PCTY, PFMT, PRO, PSEC, PSIX, QTWO, RBCN, RENT, RIG, ROVI, RPTP, RRMS, RSYS, RXN, SAPE, SF, SFM, SLXP, SPPI, SSTK, SWKS, TCRD, TKMR, TRMR, TRNX, TUMI, UBNT, UEPS, UNXL, VOLC, VRNS, VVC, WAGE, WIFI, XOMA, XOXO, YUME, ZGNX, ZNGA
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.
May. 9, 2014, 3:58 PM
- Bonanza Creek Energy (BCEI -8.5%) is sharply lower after Q1 earnings miss estimates as production declines 9% Q/Q 19.7M boe/day.
- Reaffirms 2014 production guidance of 23K-25K boe/day.
- However, Brean Capital upgrades shares to Buy from Hold with a $61 price target, believing Q1 will mark a low point for production going forward; the firm forecasts increased completions activity, commencing in Q2 and continuing throughout 2014.
May. 8, 2014, 5:04 PM| Comment!
May. 7, 2014, 5:35 PM
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Feb. 27, 2014, 4:43 PM| Comment!
Feb. 27, 2014, 12:10 AM
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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 and in Mid-Continent regions.
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