Bonanza Creek Energy in their February 4th Investor Presentation released results showing an increase in production of 135% from 3Qtr 2012 to 3Qtr 2013 to 11,803 boe/d. The company is reporting greater than 350 MMBoe of resource potential. Much of that potential comes from their flagship Wattenberg Niobrara/Codell flagship asset consisting of over 100+ operated horizontal wells.
Bonanza Creek in 2014 plans to drill wells in the Wattenberg Extension area targeting the Niobrara A, B, C benches along with the Codell Formation. The company also has Niobrara interests in Colorado’s North Park Basin.
The companys results from 2 extended reach laterals was 781 boe/d (78% crude). Results from the Codell (3 wells) produced 539 boe/d. Similar results of 422 boe/d were produced from the Niobrara C bench. Results from 40 acre downspacing in two pilot test of the Niobrara B bench were 418 boe/d and 343/boe/d respectively.
The company plans to conduct a “Super-Section” downspacing and stacking test of 15 stacked 4000 foot laterals. The test will be conducted in the Niobrara B, C benches and the Codell. Bonanza Creek plans to gain operational efficiencies from centralized gathering, and production facilities, bulk water delivery systems, and reduced drilling and completion times.