HPR - Bonanza Creek Energy reports fresh guidance on merger with HighPoint Resources

Bonanza Creek Energy (BCEI) provides 2021 guidance update for the combined company post completing merger with HighPoint Resources (HPR) in a $376M deal.Guidance Highlights:2021 Capital Expenditure: Estimated to be between $150 and $170M. It includes an estimate of $115-$130M capex for 2Q - 4Q 2021 under the combined company.2Q - 4Q 2021: Production guidance of 40.0 to 44.0 thousand barrels of oil equivalent per day (MBoe/d); oil production expected to be 48% to 52% of BOE volumes.Leverage Ratio: To be ~0.5x at the time of closing."All things considered, we estimate our 2021 pro forma levered free cash flow at over $150 million at current commodity prices," says Bonanza Creek's President and CEO Eric Greager.The merger transaction with HighPoint Resources was closed at an enterprise value of $1.34B as Bonanza Creek assumed ~$154M of RBL debt from HighPoint, issued $100M of new 7.50% senior unsecured notes due 2026, and had a combined cash

For further details see:

Bonanza Creek Energy reports fresh guidance on merger with HighPoint Resources