Welcome to our dedicated page for BCEI news (Ticker: BCEI), a resource for investors and traders seeking the latest updates and insights on BCEI stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect BCEI's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of BCEI's position in the market.
Bonanza Creek Energy (BCEI) will release its first quarter 2021 operating and financial results on May 3, 2021, after market close. The following morning, a conference call will be held at 9:00 a.m. Mountain Time to discuss these results. Investors can access a live webcast and replay on the company's Investor Relations website. Bonanza Creek operates in the Rocky Mountain region, focusing on oil and natural gas production, primarily in Weld County, Colorado.
Bonanza Creek Energy (BCEI) announced 2021 guidance with projected annual capital expenditures between $150 million and $170 million. Production guidance for Q2-Q4 is set at 40.0 to 44.0 MBoe/d, with estimated levered free cash flow exceeding $150 million at current strip pricing. On April 1, 2021, BCEI closed its merger with HighPoint Resources, acquiring $154 million in RBL debt. Post-merger, the company aims for 31 million in first-year synergies while targeting a leverage ratio of approximately 0.5x. The estimated enterprise value is $1.339 billion.
Bonanza Creek Energy announced the successful merger with HighPoint Resources on April 1, 2021. This transaction, approved unanimously by both companies' boards, enhances Bonanza Creek's scale in the DJ Basin and is expected to drive significant levered free cash flow. The merger's completion led to changes in leadership, with two new independent directors joining the Board. The company plans to provide guidance for the combined entity on April 5, 2021. Bonanza Creek focuses on oil and natural gas production in Colorado's Wattenberg Field.
Bonanza Creek Energy (NYSE: BCEI) and HighPoint Resources Corporation (NYSE: HPR) announced the expected closing of their merger on April 1, 2021. The merger involves an exchange ratio of 0.114 shares of Bonanza Creek common stock for each share of HighPoint common stock, valuing each HighPoint share at approximately $4.15 based on Bonanza Creek’s March 26 closing price of $36.39. Bonanza Creek plans to issue guidance for the combined entity and provide an updated investor presentation on April 5, 2021. CEO Eric Greager expressed pride in the expedited merger process.
Bonanza Creek Energy (NYSE: BCEI) and HighPoint Resources (NYSE: HPR) announced shareholder voting results for their merger. At Bonanza Creek's meeting, 99.8% of voting shares supported the issuance of common stock related to the merger. HighPoint's shareholders also showed overwhelming support, with 99.2% approving the transaction. Both companies will proceed with a prepackaged plan of reorganization under Chapter 11, allowing HighPoint to file for bankruptcy after securing necessary votes for its senior notes. The merger remains subject to court confirmation.
Bonanza Creek Energy, Inc. (BCEI) announced the results of its Exchange Offer for HighPoint Resources' Senior Notes, which expired on March 11, 2021. The offer sought to exchange BCEI’s stock and Senior Notes for HighPoint's 2022 and 2025 Senior Notes. However, the Minimum Participation Condition of 97.5% was not met, resulting in no acceptances. Consequently, all tendered notes will be returned, and the proposed amendments will not proceed. The merger is contingent on BCEI shareholder approval, and if approved, HighPoint may file for Chapter 11 bankruptcy.
Bonanza Creek Energy reported its fourth quarter and full-year 2020 financial results, with average sales volume of 25.0 MBoe/d in Q4, representing an 8% increase for the year. Capital expenditures totaled approximately $67.7 million in 2020. Lease operating expenses were $2.20 per Boe for Q4, down 27% year-over-year. The company exited 2020 with $285 million in liquidity and achieved a GAAP net income of $103.5 million. However, proved reserves decreased by 3% to 118.2 MMBoe. Upcoming, production guidance for Q1 2021 was revised down to 20.0 to 23.0 MBoe/d due to severe weather impacts.
Bonanza Creek Energy (NYSE: BCEI) has launched Exchange Offers to acquire HighPoint Resources' (NYSE: HPR) Senior Notes. The Exchange Offers will exchange Bonanza Creek shares and new 7.5% Senior Notes for HighPoint's 7% and 8.75% Senior Notes. A minimum participation of 97.5% is required for the offers to proceed without Chapter 11 bankruptcy. If successful, Bonanza Creek will complete the acquisition outside bankruptcy, but if not, HighPoint intends to proceed with a prepackaged Chapter 11 plan. The transaction is contingent on shareholder approval and adherence to specified conditions.
Bonanza Creek Energy (NYSE: BCEI) announced a special meeting for stockholders on March 12, 2021, to approve stock issuance related to its merger with HighPoint Resources Corporation. This merger, based on an agreement from November 2020, will involve Bonanza Creek acquiring HighPoint, subject to stockholder approval and certain conditions. Upon completion, Bonanza Creek shareholders will hold approximately 68% of the combined entity. The transaction also involves exchange offers for HighPoint's Senior Unsecured Notes, contingent on high participation levels among noteholders.
