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One year ago, we wrote that, unlike in 2019, when the large business bankruptcy landscape was generally shaped by economic, market, and leverage factors, the COVID-19 pandemic dominated the narrative in 2020.
One year ago, we wrote that, unlike in 2019, when the large business bankruptcy landscape was generally shaped by economic, market, and leverage factors, the COVID-19 pandemic dominated...
Bonanza Creek Moderating DJ Well Completions to Optimize HighPoint Takeover With its takeover of fellow Colorado pure-play HighPoint Resources Corp. now complete, Bonanza Creek Energy Inc. is looking to optimize the combined well completions and midstream gathering needs, according to CEO Eric Greager. Bonanza Creek completed its merger with HighPoint on April 1. The closing allows the Denver-Julesburg (DJ) Basin operator to revamp the overall drilling schedule for the drilled but uncompleted wells, or DUCs, pushing some to later this year. Streamlining and consolidating the DJ operations m...
DENVER — Bonanza Creek Energy Inc. (NYSE: BCEI) closed its merger with HighPoint Resources Corp. this month, marking a consolidation that creates the sixth-largest producer of fossil fuel energy in Weld County. The two Denver-based energy companies consummated their merger on April 1. In a note to investors, the new Bonanza said it intends to spend between $150 million and $170 million this year on capital expenditures, a line item usually denoting new drilling or well activity, and expects to drill between 40,000 to 44,000 barrels of oil per day through the rest of 2021. The company solely...
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