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Bonanza Creek Energy, Inc. Message Board

  • msftgo1 msftgo1 Jan 17, 2013 11:38 AM Flag

    More comments IBN #2

    To address this risk, the company hedges about half of its crude oil production at a price of $90 per barrel or above. It also has one of the strongest balance sheets among its peers. The company has very little debt while producing substantial amounts of cash.

    However, oil and gas development can be very capital intensive, and analysts expect the company to outspend its cash flow next year. As a result, Mabry believes that Bonanza will likely need to raise more capital in 2013. He estimates that the company may look at the high-yield market to fuel future investments.

    Management has a long track record in the oil and gas industry and is well regarded by the analyst community. Some 62% of the company is owned by the top three institutional investors, while management owns 3%.

    "As far as technical acumen, these guys bring a lot of horsepower to the equation," said Coleman.

    "The fact that we've seen the same financial partners come back to the table a few times now to essentially back the same management team, it certainly speaks well of management," said Mabry.

    Sentiment: Strong Buy

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