Bonanza Creek Energy sells Mid-Continent operations for $117M

August 06, 2018

Bonanza Creek Energy (NYSE:BCEI) says it has sold Mid-Continent region operations including ~11K net acres primarily targeting the Cotton Valley formation to undisclosed buyer for $117M.

BCEI says the divested operations include proved reserves at year-end 2017 of 12M boe and associated net production during Q1 of ~3K boe/day (55% oil).

BCEI says the sale allows it to "turn our full attention to opportunities with greater long-term potential."

|About: Bonanza Creek Energy (BCEI)|By:, SA News Editor