QUOTE AND NEWS
Reuters  Mar 25  Comment 
* Says total workforce reduction of 26 employees and 17 contractors
Benzinga  Mar 3  Comment 
Analysts at Piper Jaffray downgraded Noodles & Co (NASDAQ: NDLS) from Neutral to Underweight. The target price for Noodles & Co has been lowered from $10 to $8. Noodles & Co shares closed at $13.47 on Wednesday. Canaccord Genuity downgraded...
Benzinga  Mar 2  Comment 
Analysts at Raymond James downgraded Dollar Tree, Inc. (NASDAQ: DLTR) from Strong Buy to Market Perform. Dollar Tree shares closed at $82.03 on Tuesday. Imperial Capital downgraded Bonanza Creek Energy Inc (NYSE: BCEI) from Outperform to...
Benzinga  Mar 2  Comment 
Shares of Bonanza Creek Energy Inc (NYSE: BCEI) fell 44 percent Tuesday after it reported a loss of $573.7 million in its fourth quarter and terminated the sale of its Rocky Mountain Infrastructure assets to Meritage Midstream. Following the...




 
TOP CONTRIBUTORS

Bonanza Creek Energy (NYSE:BCEI) is an oil and gas company which acquires, explores, and drills onshore gas wells in the United States. The company if focused in the Mid-Continent and Rocky Mountain regions of the US. [1]

Business Overview

For the nine months ended in September in 2011, Bonanza reported total revenues of $76M. This corresponded with a $13M net income for the same period. For the nine months in 2010, the total revenue was $35M and the net income was $11M.[2]

New Updates

The company's initial public offering of stock on the NYSE occurred on December 14, 2011. The company offered 10M shares each for $17. This was below the $20-$22 price range. The deal raised a total of $170M. The company had originally announced that it would sell 14.3M shares. The lead mangers of the deal were Morgan Stanley and Credit Suisse.[3]

Trends & Forces

Use of Hydraulic Fracturing

Like main onshore oil and gas drillers, Bonanza Creek Energy relies heavily on the use of injected water and chemicals under high pressures (hyrdofracking) to stimulate and improve the output of a well. This process has undergone scrutiny and if made illegal would severely impair Bonanza's abilities to extract oil and gas from its wells. [4]

  1. BCEI 2011 S-1/A PROSPECTUS SUMMARY "Overview" pp. 1-2
  2. BCEI 2011 S-1/A PROSPECTUS SUMMARY "SUMMARY HISTORICAL AND PRO FORMA CONSOLIDATED FINANCIAL DATA " pp. 8-9
  3. Renaissance Capital - IPO Home "Bonanza Creek Energy prices downsized IPO at $17, below the range" 15 Dec 2011
  4. BCEI 2011 S-1/A PROSPECTUS SUMMARY "Risk factors" pp. 16-19
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