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Stock impact report

Bonanza Creek Energy Announces Results of Borrowing Base Redetermination and Participation in Upcoming Investor Conference

Bonanza Creek Energy, Inc. (BCEI) 
Last bonanza creek energy, inc. earnings: 2/27 04:05 pm Check Earnings Report
US:NYSE Investor Relations: bonanzacrk.com/investor-center
Company Research Source: GlobeNewswire
DENVER, May 16, 2019 (GLOBE NEWSWIRE) -- Bonanza Creek Energy, Inc. (NYSE: BCEI) (the "Company" or "Bonanza Creek") today announces that the lenders under its senior secured credit facility have concluded their semi-annual redetermination, resulting in an increase in the borrowing base to $375 million from $350 million. While the bank syndicate fully subscribed to the new borrowing base, the Company chose to hold the aggregate elected commitments at $350 million. As of March 31, 2019, the Company had $65 million drawn on the facility and held approximately $33 million in cash. Eric Greager, Chief Executive Officer, commented, “We are pleased with the outcome of our spring redetermination and appreciate the support of our bank group. We are committed to maintaining a strong balance sheet, disciplined execution, and increasing shareholder value.” The Company also announces that members of the Company’s management will participate in the J.P. Morgan Energy Conference in New York on J Show less Read more
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