| --- | --- | --- | |-------|-------|-------| | | | | | | | | Important Disclosures No Offer or Solicitation This communication relates to a proposed business combination transaction (the "Merger") between Bonanza Creek Energy, Inc. ("BCEI") and Extraction Oil & Gas, Inc. ("XOG"). Communications in this document do not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or approval with respect to the Merger or otherwise, nor shall ...

Civitas Resources, Inc. (NYSE:CIVI) Q4 2021 Earnings Conference Call March 9, 2022 10:00 AM ET Company Participants John Wren - Investor Relations Ben Dell - Chairman and Interim Chief Executive Officer Marianella Foschi - Chief Financial Officer Matt Owens - Chief Operating Officer Conference Call Participants Neil Dingmann - Truist Securities Michael Scialla - Stifel Phillips Johnston - Capital One Leo Mariani - KeyBanc Joseph McKay - Wells Fargo Noel Parks - Tuohy Brothers Operator 00:04 Good morning. My ...

INVESTOR PRESENTATION M a y 2 0 2 1 Cautionary Statement Regarding Forward-Looking Statements & Non-GAAP Information This presentation contains various statements, including those that express belief, expectation or intention, as well as those that are not statements of historical fact, that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may includ ...

Bonanza Creek Energy, Inc. (BCEI) Q1 2021 Earnings Conference Call May 4, 2021 11:00 AM ET Company Participants Scott Landreth - Senior Director, Finance & IR and Treasurer Eric Greager - President, CEO & Director Brant DeMuth - EVP & CFO Dean Tinsley - SVP, Operations Conference Call Participants Leo Mariani - KeyBanc Capital Markets Neal Dingmann - Truist Securities Michael Scialla - Stifel, Nicolaus & Company Nicholas Pope - Seaport Global Securities Phillips Johnston - Capital One Securities Noel Parks ...

Part I. FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Unaudited Q1 2021 financials show a **$0.1 million net loss** from derivative losses, with **$1.21 billion** total assets and **$43.0 million** operating cash flow Condensed Consolidated Balance Sheets Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Total current assets** | $104,903 | $92,405 | | **Total property and equipment, net** | $1,011,712 | $997,311 | | **Total assets** | **$1,208,286** | **$1,182,812** | | **Total current liabilities** | $94,276 | $74,484 | | **Total liabilities** | $161,526 | $137,560 | | **Total stockholders' equity** | $1,046,760 | $1,045,252 | | **Total liabilities and stockholders' equity** | **$1,208,286** | **$1,182,812** | Condensed Consolidated Statements of Operations Condensed Consolidated Statements of Operations (in thousands, except per share amounts) | Metric | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :--- | :--- | :--- | | Oil and gas sales | $74,159 | $60,405 | | Total operating expenses | $50,672 | $80,386 | | Derivative gain (loss) | $(23,419) | $100,419 | | **Net income (loss)** | **$(119)** | **$78,551** | | **Diluted EPS** | **$(0.01)** | **$3.80** | - The significant swing from net income to a net loss was primarily driven by a derivative loss of **$23.4 million** in Q1 2021, compared to a derivative gain of **$100.4 million** in Q1 2020[12](index=12&type=chunk) Condensed Consolidated Statements of Cash Flows Condensed Consolidated Statements of Cash Flows (in thousands) | Cash Flow Category | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | **$42,964** | **$47,994** | | Net cash used in investing activities | $(28,948) | $(26,871) | | Net cash used in financing activities | $(64) | $(21,071) | | **Net change in cash** | **$13,952** | **$52** | | Cash at end of period | $38,797 | $11,147 | Notes to the Condensed Consolidated Financial Statements - On April 1, 2021, the company completed its acquisition of HighPoint Resources Corporation. As part of the transaction, the company issued approximately **9.8 million shares** of common stock and **$100 million** in 7.5% Senior Notes due 2026[106](index=106&type=chunk)[108](index=108&type=chunk)[109](index=109&type=chunk) - In conjunction with the HighPoint acquisition, the company amended its Credit Facility, increasing the borrowing base from **$260 million** to **$500 million** and the total commitment amount to **$1 billion**[110](index=110&type=chunk) - As of March 31, 2021, the company had zero outstanding borrowings on its Credit Facility[58](index=58&type=chunk) Derivative Assets and Liabilities (in thousands) | Category | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Total derivative assets | $92 | $7,482 | | Total derivative liabilities | $(19,970) | $(7,732) | | **Total net derivative assets (liabilities)** | **$(19,878)** | **$(250)** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2021 performance, highlighting **24% product revenue growth** from higher prices, a **37% decrease in operating expenses**, and **$298.7 million liquidity** Q1 2021 vs Q1 2020 Operational Highlights | Metric | Q1 2021 | Q1 2020 | % Change | | :--- | :--- | :--- | :--- | | Product Revenue (in thousands) | $73,049 | $58,792 | 24% | | Crude Oil Equivalent (MBoe) | 1,876.5 | 2,260.1 | (17)% | | Avg. Sales Price per Boe | $38.93 | $26.01 | 50% | - Total operating expenses decreased by **37% YoY**, primarily due to a **$30.1 million** impairment of unproved properties in Q1 2020 that did not recur in Q1 2021[130](index=130&type=chunk)[136](index=136&type=chunk) - The company's liquidity as of March 31, 2021, was **$298.7 million**, comprising **$38.7 million** in cash and **$260.0 million** available under its Credit Facility[141](index=141&type=chunk) Reconciliation of Net Income to Adjusted EBITDAX (in thousands) | Metric | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :--- | :--- | :--- | | Net income (loss) | $(119) | $78,551 | | Adjustments | $43,829 | $(35,282) | | **Adjusted EBITDAX** | **$43,710** | **$43,269** | [Quantitative and Qualitative Disclosures About Market Risk](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Primary market risk is commodity price volatility, mitigated by derivative contracts, with minimal interest rate risk from no Credit Facility borrowings - The company's financial condition is highly dependent on the prevailing market prices of oil and natural gas, which are subject to wide fluctuations beyond its control[165](index=165&type=chunk) - To manage commodity price risk and reduce cash flow volatility, the company enters into derivative contracts such as swaps, collars, and puts[166](index=166&type=chunk) - As of March 31, 2021, the company had no outstanding debt under its Credit Facility, limiting its exposure to interest rate fluctuations for the period[172](index=172&type=chunk) [Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of March 31, 2021, with no material changes in internal control over financial reporting - Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2021[179](index=179&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, internal controls[181](index=181&type=chunk) Part II. OTHER INFORMATION [Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) No material legal proceedings beyond HighPoint acquisition, including a breach of contract lawsuit and COGCC NOAVs with a **$1.3 million** recognized liability - The company assumed a breach of contract complaint from HighPoint, filed by Sterling Energy Investments LLC, related to a Gas Purchase Agreement. The company denies the claims and is seeking its own damages[183](index=183&type=chunk) - The company recognized a liability of approximately **$1.3 million** associated with Notices of Alleged Violations (NOAVs) from the COGCC that were issued to HighPoint[184](index=184&type=chunk) [Risk Factors](index=39&type=section&id=Item%201A.%20Risk%20Factors) Risks from HighPoint acquisition include integration challenges, failure to achieve benefits, and increased exposure to Colorado regulatory and operational risks - A key risk is the inability to successfully integrate HighPoint's business and realize the anticipated benefits and cost savings from the acquisition[188](index=188&type=chunk) - The acquisition significantly increases the company's asset concentration in Colorado, heightening its exposure to unfavorable state regulatory developments and other regional operational risks[191](index=191&type=chunk)[192](index=192&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=41&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered equity security sales in Q1 2021, with only a minor repurchase of **38 shares** for employee tax withholding on vested awards - There were no sales of unregistered equity securities during the three-month period ended March 31, 2021[196](index=196&type=chunk) - The company repurchased **38 shares** of common stock from employees to cover tax withholding obligations related to vested equity awards[197](index=197&type=chunk)[198](index=198&type=chunk) [Defaults Upon Senior Securities](index=41&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities reported during the period [Mine Safety Disclosures](index=41&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company's operations [Other Information](index=41&type=section&id=Item%205.%20Other%20Information) No other material information is reported in this section [Exhibits](index=42&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed, including the HighPoint merger agreement, credit agreement amendments, and corporate governance documents

Extraction Oil & Gas, Inc. (XOG) Q4 2020 Results Conference Call March 19, 2021 10:00 AM ET Company Participants John Wren - IR Thomas Tyree - CEO Matthew Owens - COO Marianella Foschi - CFO Conference Call Participants Leo Mariani - KeyBanc Patrick Sheffield - Beach Point Capital Jeffrey Robertson - Water Tower Research David Zimmerman - Eaton Vance Management Operator Good morning. I am Josh, and I'll be your conference facilitator today. I would like to welcome everyone to the Extraction Oil & Gas Fourth ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-35371 Bonanza Creek Energy, Inc. (Exact name of registrant as specified in its charter) Delaware 61-1630631 (State or other jurisd ...

Bonanza Creek Energy Inc (BCEI) Q3 2020 Results Conference Call November 6, 2020 11:00 AM ET Company Participants Scott Landreth - Senior Director of Finance and Investor Relations Eric Greager - President and Chief Executive Officer Conference Call Participants Jordan Levy - QS Securities Michael Scialla - Stifel, Nicolaus Noel Parks - Coker & Palmer Investment Securities Phillips Johnston - Capital One Securities Operator Ladies and gentlemen, thank you for standing by, and welcome to the Q3 2020 Bonanza ...

INVESTOR PRESENTATION N o v e m b e r 2020 Disclaimer: Forward Looking Statements and Non-GAAP Information This presentation contains various statements, including those that express belief, expectation or intention, as well as those that are not statements of historical fact, that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include projecti ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-35371 Bonanza Creek Energy, Inc. (Exact name of registrant as specified in its charter) Delaware 61-1630631 (State or other jurisdiction of incorporat ...