Mon, Aug. 31, 11:54 AM
- Bonanza Creek Energy (BCEI +18.9%) rallies after Wunderlich reiterates its Buy rating and $29 price target, pointing out that BCEI has a negative implied land value vs. peers' land value of ~6K/acres - a "huge disconnect," the firm says.
- Wunderlich says the recent pressure on BCEI is due to falling on the short side of the Wattenberg pair trades, but BCEI notes that most of its debts (~$800M) is long duration, covenant light, high-yield paper.
Mon, Aug. 24, 5:36 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.
Wed, Apr. 15, 5:35 PM
Tue, Apr. 14, 5:36 PM
Fri, Mar. 13, 5:40 PM
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%).
May 22, 2014, 12:46 PM
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.
Jan. 7, 2014, 10:45 AM
- Bonanza Creek Energy (BCEI +2.7%) moves higher after announcing its 2014 guidance for production volumes of 23K-25K boe/day, a 44%-56% increase over the top end of 2013 guidance of 16K boe/day.
- During Q4, BCEI finished its scheduled 2013 completion program with the tie-in to sales of 14 gross horizontal wells in the Wattenberg Field and 10 gross vertical wells in southern Arkansas.
Jan. 6, 2014, 12:27 PM
- Bonanza Creek Energy (BCEI +3.8%) is upgraded to Buy from Neutral and Hess (HES -0.7%) is cut to Neutral from Buy at Mizuho on valuation as part of the firm's broader sector outlook, which sees crude prices remaining above breakeven for key basins despite headwinds.
- The firm expects further efficiency gains as key players in the Bakken (HES), Permian (APA, APC), Eagle Ford (MRO, APC) and DJ Basin (APC, NBL, PDCE, SYRG, BCEI) continue to hone skills; its top picks going into 2014 are APA, Kosmos (KOS) and, on the riskier side, APC.
- With APA, the firm sees a continued turnaround to a leaner, shareholder-focused E&P with material catalysts; with KOS, a seasoned explorer with big drilling upside alongside cash flow generation; with APC, market caution until a Tronox damages number is revealed but rebounding given solid assets and liquidity.
Mar. 18, 2013, 10:54 AMPrice targets for Bonanza Creek Energy (BCEI +3.4%) are raised by at least three firms, including Societe Generale's boost to $43 from $26 after the company turned in a strong quarter with robust volume growth and declining operating costs. BCEI continues to deliver encouraging flow rates from the Wattenberg field; overall proved reserves grew 21% in 2012. | Mar. 18, 2013, 10:54 AM | Comment!
Mar. 15, 2013, 5:31 PM
Jan. 4, 2013, 10:34 AM
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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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