Bonanza Creek Energy Announces the Divestiture of Mid-Continent Operations

Bonanza Creek Energy Announces the Divestiture of Mid-Continent Operations

DENVER, Aug. 06, 2018 (GLOBE NEWSWIRE) — Bonanza Creek Energy, Inc. (NYSE: BCEI) (the “Company”) announced today that it has entered into an agreement and simultaneously closed on the divestiture of its operations in the Mid-Continent region to an undisclosed buyer for $117 million in cash, subject to customary terms and conditions and purchase price adjustments based on a February 1, 2018 effective date. The divested operations include approximately 11,000 net acres located in Lafayette and Columbia Counties, primarily targeting the Cotton Valley formation. The divested operations include proved reserves as of December 31, 2017 of approximately 12 MMBoe (100% proved developed) and associ…

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