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Bonanza Creek Energy Makes Deal For Wattenberg Acreage

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By Darren Barbee, Hart Energy
May 27, 2014

Bonanza Creek Energy Inc. (NYSE: BCEI) nearly doubled its position in the Wattenberg after announcing a deal May 22 in which the company will pay $5,000 an acre for land in Weld County, Colo.

Bonanza will pay $175.5 million in cash and issue up to 1.1 million shares of stock for about 86,400 gross (34,600 net) acres and net production of about 700 barrels of oil equivalent per day (boe/d), 85% of which is oil. The transaction gives BCEI about 70,000 acres in the play.

BCEI’s average working interest in ...

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