|Over a month ago|
Bonanza Creek price target raised to $20 from $16 at Imperial Capital » 04:5905/1105/11/20
Imperial Capital analyst…
Imperial Capital analyst Irene Haas raised the firm's price target on Bonanza Creek to $20 from $16 and keeps an Outperform rating on the shares. The company is on track to exit 2020 with zero debt, Haas tells investors in a research note.
Bonanza Creek sees Q1 estimated average sales volumes of 24.8 MBoe/d » 16:1204/2204/22/20
Total first quarter 2020…
Total first quarter 2020 capital expenditures of approximately $41 million, significantly below the original 2020 plan
Bonanza Creek price target lowered to $16 from $28 at Imperial Capital » 05:2804/1704/17/20
Imperial Capital analyst…
Imperial Capital analyst Irene Haas lowered the firm's price target on Bonanza Creek to $16 from $28 and keeps an Outperform rating on the shares ahead of the company's Q1 results. The analyst views Bonanza as well positioned to "ride out the crisis."
|Over a quarter ago|
Bonanza Creek upgraded to Buy from Hold at Stifel » 05:2203/3103/31/20
Stifel analyst Michael…
Stifel analyst Michael Scialla upgraded Bonanza Creek Energy to Buy from Hold with a price target of $34, up from $13. Investors should focus on Exploration and Production companies that can endure an "unparalleled oil market imbalance" amid the COVID-19 driven oil demand destruction and the dissolution of the OPEC agreement, Scialla tells investors in a research note. The former is expected to reduce demand by 12M-16M Bopd or more in April, overshadowing an incremental 2M Bopd of supply from Saudi Arabia, adds the analyst. Scialla believes saturated storage capacity and/or a slower than expected demand recovery could cause prices to slide further and force uneconomic production to be shut-in. With this "somber backdrop," the analyst made several rating changes in the space.
Bonanza Creek significantly reduces planned development activity in 2020 » 16:4103/1203/12/20
Bonanza Creek Energy…
Bonanza Creek Energy updated its 2020 operating plan due to the unprecedented drop in commodity prices. Consistent with the company's focus on economic returns, financial strength, and operational flexibility, Bonanza Creek is significantly reducing planned development activity in 2020. The company's operated drilling rig will finish the final well on its current pad this week and then be released. Ongoing completion activities involving the two final XRL wells of an 8-well pad will be finished within two weeks and the pad will be brought online later this year. Further completion activities will be suspended. Absent additional development activity, the company expects to exit 2020 with no debt and Q4 2020 production that is approximately flat with Q4 2019. Should commodity prices recover, and the economic returns justify their completion, the company can quickly restart development activity with the completion of two pads in late 2020 that should maintain flat production into Q2 2021.
Oil-linked stocks see mass of downgrades on potential 'Energy Armageddon' » 11:2303/0903/09/20
HAL, SLB, HP, HLX, CLB, FET, WHD, AMNA, APA, CHK, DVN, OVV, EOG, MRO, OXY, CDEV, CPE, ESTE, FANG, MTDR, PE, PXD, REI, ROSE, WPX, XEC, CLR, ERF, NOG, WLL, MGY, WTI, SM, PDCE, NBL, BCEI, AXAS, VET, AM, ENLC, ET, OKE, PAA, PAGP, TELL, TRGP, BRY, GPOR, QEP
Oil exploration and…
Oil-linked stock downgrades dominate top calls on Wall Street » 10:2003/0903/09/20
HAL, SLB, HP, HLX, CLB, FET, WHD, XEC, WTI, SM, ROSE, PDCE, NBL, MTDR, EOG, BCEI, AXAS, APA, OVV, CPE, VET, TRP, AM, ENLC, ET, OKE, PAA, PAGP, TELL, TRGP, BUD, GRUB
Check out today's top…
Bonanza Creek downgraded to Hold from Buy at Stifel » 06:4103/0903/09/20
Stifel analyst Michael…
Stifel analyst Michael Scialla downgraded Bonanza Creek to Hold from Buy with a price target of $13, down from $54. The firm is lowering its ratings and target prices on several E&P stocks due to an impending oil price war after Russia's refusal to join the most recent OPEC+ production proposal prompted Saudi Arabia to slash prices.
Bonanza Creek reports Q4 EPS (14c), consensus $1.28 » 16:4702/2702/27/20
Reports Q4 revenue…
Reports Q4 revenue $79.7M, consensus $78.78M.Eric Greager, President and Chief Executive Officer of Bonanza Creek, commented, We expanded our margin in 2019 despite realized prices that were 16% lower than the prior year. Unit LOE of $2.95 per Boe was below the low-end of our original 2019 guidance. Cash G&A on a recurring basis of $3.74 per Boe for the year was just above the low-end of our guidance, and trended down throughout the year to a fourth quarter rate of $3.41 per Boe. We will continue to aggressively apply technology to drive capital and operating efficiencies across the full life-cycle of our assets. Last month we provided guidance for 2020, and we look forward to delivering 17% production growth on capex that is essentially flat to 2019. We continue to work closely with our development partner in French Lake to target the start of drilling in Q4 2020."
Bonanza Creek sees FY20 productio of 26.0 - 29.0 MBoe/d » 16:1401/2801/28/20
Annual 2020 production…
Annual 2020 production guidance of 26.0 - 29.0 MBoe/d, representing 11 - 23% growth over 2019 volumes Total 2020 annual capital expenditures are expected to be $215 - $235 million Eric Greager, President and Chief Executive Officer of Bonanza Creek, commented, "The Company finished 2019 strong, meeting or beating initial guidance for the year and meaningfully improving key performance measures throughout the year. Average sales volumes in 2019 finished near the high-end of initial guidance and increased 48% over 2018, while capex finished below budget, below guidance, and 19% lower than 2018. Improvements in our cost structure continued through 2019, and we expect total opex and cash G&A to be at or below our initial guidance for the year."Greager continued, "We are excited to provide initial guidance and a capital plan for 2020. We expect to deliver production growth of 17% at the mid-point of our guidance range, with capex that is flat to 2019. We continue to work closely with our development partner and remain ready for the start of French Lake drilling in early Q4 2020."