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BONANZA CREEK Bonanza Creek Energy Announces Third Quarter 2021 Financial Results October 29 , 2021 DENVER , Oct. 28 , 2021 ( GLOBE NEWSWIRE ) -- Bonanza Creek Energy , Inc. ( NYSE : BCEI ) ( the " Company " or " Bonanza Creek " ) today announced its third quarter 2021 financial results . Highlights include : • Average sales volumes for the third quarter of 43.7 thousand barrels of oil equivalent per day ( " MBoe / d " ) with oil representing 51 % of total volumes • Total capital expenditures of $ 54.8 million for the third quarter • Lease operating expense ( " LOE " ) of $ 2.87 per Boe for the third quarter • Rocky Mountain Infrastructure ( " RMI " ) operating expense was $ 0.79 per Boe for the third quarter • RMI net effective cost ( 1 ) for the third quarter was $ 0.38 per Boe , which offsets RMI operating expense with $ 0.41 per Boe of RMI operating revenue from working interest partners • General and administrative ( " G & A " ) expenses were $ 11.7 million for the third quarter of 2021 , which included $ 2.3 million in non - cash stock - based compensation and $ 0.1 million of other non - recurring G & A • Recurring cash G & A ( 1 ) expense , which excludes non - recurring and non - cash items , was $ 9.3 million for the third quarter or $ 2.31 per Boe • GAAP net income for the third quarter of $ 40.7 million • Adjusted EBITDAX ( 1 ) of $ 116.5 million , or $ 3.74 per diluted share ( 1 ) Non - GAAP measure ; see attached reconciliation schedules at the end of this release . Eric Greager , President and Chief Executive Officer of Bonanza Creek , commented , " We're proud to have delivered a strong quarter ahead of the closing of the pending mergers to form Civitas Resources . The team has consistently delivered results , while integrating the High Point assets , and I'm confident in continued strong performance under the Civitas brand . Subject to stockholder approval and satisfaction of customary closing conditions , we expect to communicate more information on Civitas in the coming days . " Third Quarter 2021 Results During the third quarter of 2021 , the Company reported average daily sales of 43.7 MBoe / d . The Company's production guidance for the third quarter 2021 had been a range of 41 to 44 MBoe / d with oil representing 48 % to 52 % of total volumes . Product mix for the third quarter was 51 % oil , 22 % NGLs , and 27 % residue natural gas . The table below provides sales volumes , product mix , and average sales prices for the third quarter 2021 and 2020 . Avg . Daily Sales Volumes : Crude oil ( Bbls / d ) Natural gas ( Mcf / d ) Natural gas liquids ( Bbls / d ) Crude oil equivalent ( Boe / d ) 2021 Three Months Ended September 30 , 2020 % Change 22,135 13,957 59 % 72,255 39,449 83 % 9,567 5,705 68 % 43,745 26,237 67 % Product Mix Crude oil Natural gas 51 % 53 % 27 % 25 % 22 % 22 % Natural gas liquids Average Sales Prices ( before derivatives ) : $ 64.38 $ 36.45 Crude oil ( per Bbl ) Natural gas ( per Mcf ) $ 3.52 $ 1.32