latest niobrara production numbers, page-66

Bonanza Creek Energy


Wattenberg Horizontal Niobrara Highlights

Since Bonanza Creek began its horizontal Niobrara development program in July, 2011, the Company has spud 22 wells, completed 20 wells, and has 30-day average production rates on 16 wells and 60-day average production rates on 11 wells. These wells have averaged the following rates:

30-day production rates: 470 Boe/d (74% oil; 26% liquid-rich gas)
60-day production rates: 373 Boe/d (72% oil; 28% liquid-rich gas)

During the second quarter 2012, the Company drilled and completed eight wells, moving predominantly to 18 stage fracs in the standard approximate 4,000 foot lateral. Bonanza Creek's successful horizontal well results continue to substantiate its 312 MBoe type curve forecast, which assumes a two-phase wellhead commodity mix of 65% crude oil and 35% liquid-rich gas.

As a result of superior economics from its horizontal wells as compared to its vertical wells, in the second half of 2012 the Company plans to reduce its originally planned vertical wells by 20 for a total of 72 and increase its originally planned horizontal well count by four additional wells.