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EX - 99.1 2 exhibit99120210630.htm EX - 99.1 BONANZA CREEK Exhibit 99.1 NEWS RELEASE Bonanza Creek Energy Announces Second Quarter 2021 Financial Results DENVER , August 9th , 2021 / Globe Newswire / - Bonanza Creek Energy , Inc. ( NYSE : BCEI ) ( the " Company " or " Bonanza Creek " ) today announced its second quarter 2021 financial results . The Company has also posted an updated investor presentation to its website . Highlights include : • • Paid first - ever quarterly dividend of $ 0.35 per share in June , representing a 3.7 % annual dividend yield based on Bonanza Creek's August 6 , 2021 closing stock price Bonanza Creek Board of Directors has declared the third quarter 2021 fixed dividend of $ 0.35 per share will be paid on September 30 , 2021 to shareholders of record at the close of business on September 15 , 2021 Average sales volumes for the second quarter of 42.3 thousand barrels of oil equivalent per day ( " MBoe / d " ) with oil representing 49.5 % of total volumes • Total capital expenditures of $ 40.8 million for the second quarter • Lease operating expense ( " LOE " ) of $ 2.95 per Boe for the second quarter • . • • • Rocky Mountain Infrastructure ( " RMI " ) operating expense was $ 1.10 per Boe for the second quarter RMI net effective cost ( 1 ) for the second quarter was $ 0.96 per Boe , which offsets RMI operating expense with $ 0.14 per Boe of RMI operating revenue from working interest partners General and administrative ( " G & A " ) expenses were $ 12.1 million for the second quarter of 2021 , which included $ 2.2 million in non - cash stock - based compensation and $ 1.3 million of other non - recurring G & A Recurring cash G & A ( 1 ) expense , which excludes non - recurring and non - cash items was $ 8.7 million for the second quarter or $ 2.25 per Boe Revising production guidance up from 40 to 44 MBoe / d to 41 to 44 MBoe / d , and lowering LOE guidance from $ 3.00 to $ 3.25 per Boe to $ 2.85 to $ 3.00 per Boe for the third quarter Previously provided guidance for oil mix , annual capital expenditures , RMI opex , and severance and valorem taxes are all reaffirmed , but guidance has been limited to the third quarter 2021 as a result of expected merger closings in early fourth quarter 2021 GAAP net loss for the second quarter of $ 25.3 million • Adjusted EBITDAX ( 1 ) of $ 88.1 million , or $ 2.87 per diluted share