Bonanza Creek Energy (BCEI) Tops Q3 EPS by 14c

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Bonanza Creek Energy Announces Third Quarter 2015 Financial and Operating Results; Enters Into an Agreement to Divest Its Rocky Mountain Infrastructure Subsidiary

November 5, 2015 8:17 PM EST

Third quarter production volumes averaged 29.0 Mboe per day, compared to guidance of 28.6 Mboe per dayCash operating costs of $14.01 per boe, a 16% sequential decrease from the second quarter of 2015Adjusted EBITDAX(1) of $73.3 million; adjusted net loss(1) of $3.6 million, or $0.07 per diluted shareThird quarter CAPEX of $88.3 million, a 46% sequential decrease from the second quarter; Company reiterates annual CAPEX of $420 million at the midpointEntered into an agreement with a midstream partner to divest its Rocky Mountain Infrastructure subsidiary for total anticipated cash consideration of $255 million

(1) Non-GAAP measure, see attached Reconciliation Schedules.

DENVER, Nov. 05,... More