8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

October 30, 2019

Date of Report (Date of earliest event reported)

Bonanza Creek Energy, Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-35371	61-1630631
(State or other jurisdiction of incorporation or organization)	(Commission File No.)	(I.R.S. employer identification number)

410 17th Street, Suite 1400

Denver, Colorado 80202

(Address of principal executive offices, including zip code)

(720) 440-6100

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of exchange on which registered
Common Stock, par value $0.01 per share	BCEI	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On October 30, 2019, the Board of Directors (the “Board”) of Bonanza Creek Energy, Inc. (“BCEI” or the “Company”) voted to increase the number of board seats from seven to eight and elected Carrie Hudak, 43, to serve as a non-employee director of the Company, effective immediately, for a term ending on the date of the annual meeting to be held in 2020. The Board has determined that Ms. Hudak qualifies as an independent director under applicable SEC and New York Stock Exchange rules. The Board has not yet determined which committees Ms. Hudak will be joining.

During her nearly 20-year career in the petroleum industry, Ms. Hudak has developed a diverse background in geology, operations, asset management, business development and financial planning. From 2000 through September 2019, Ms. Hudak worked for Anadarko Petroleum Corporation (“Anadarko”). Most recently, Ms. Hudak served as Anadarko’s Vice President, Denver-Julesberg (DJ) Basin Development from May 2017 to September 2019. From March 2016 to May 2017, Ms. Hudak served as Anadarko’s General Manager, DJ Basin Development and Execution, and as Director, Rockies Business Development from November 2014 to March 2016. From 2000 to November 2014, Ms. Hudak served in various capacities, including roles in geology, asset management, and business development. Ms. Hudak received her M.S. in Geology from Duke University and her B.A. in Geology from Miami University.

There are no understandings or arrangements between Ms. Hudak and any other person pursuant to which Ms. Hudak was selected to serve as a director of the Company. Neither Ms. Hudak nor any of her related persons (as defined in Item 404(a) of Regulation S-K under the Securities and Exchange Act of 1934, as amended (the “Exchange Act”)) is a party to any transaction in which the Company is a participant that is required to be disclosed under Item 404(a) of Regulation S-K under the Exchange Act.

Ms. Hudak will be entitled to the same compensation as the other directors of the Company: (a) a $75,000 annual cash retainer, payable quarterly, (b) a $125,000 annual grant of restricted stock, prorated for service of less than a full year, (c) a director indemnification agreement with the Company, the form of which has been previously filed with the Securities and Exchange Commission and (d) additional benefits described in the Company’s definitive proxy statement delivered to its stockholders in connection with the 2019 annual meeting of stockholders and filed with the Securities and Exchange Commission on April 24, 2019.

Item 7.01 Regulation FD Disclosure.

On October 30, 2019, the Company issued a press release with respect to the management changes described in Item 5.02 of this Current Report on Form 8-K. The press release is included in this report as Exhibit 99.1 and is incorporated herein by reference. This information shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and is not incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Bonanza Creek Energy, Inc. press release dated October 30, 2019

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Bonanza Creek Energy, Inc.
Dated: October 30, 2019	By:	/s/ Cyrus D. Marter IV
	Name:	Cyrus D. Marter IV
	Title:	Executive Vice President, General Counsel and Secretary

EX-99.1

Exhibit 99.1

NEWS RELEASE

Bonanza Creek Energy Announces

Addition to Board of Directors

DENVER, October 30, 2019 – Bonanza Creek Energy, Inc. (NYSE: BCEI) (the "Company" or "Bonanza Creek") today announced the appointment of Carrie Hudak to the Company’s Board of Directors, effective immediately.

Ms. Hudak brings a diverse background that includes geology, operations, asset management, business development, and financial planning. For nearly the last 20 years, Ms. Hudak worked for Anadarko Petroleum Corporation. Her roles at Anadarko began in geology, asset management, and business development and progressed to the positions of Director, Rockies Business Development (November 2014 to March 2016), General Manager, DJ Basin Development and Execution (March 2016 to May 2017), and Vice President, DJ Basin Development (May 2017 to September 2019). As Vice President at Anadarko, Ms. Hudak led the largest oil & gas program in Colorado, with an annual capital budget of approximately $1.4 billion and production of approximately 300,000 BOE/day (120,000 BO/day).

Ms. Hudak has also provided leadership to the industry, serving as the Chairperson from 2018 through 2019 and Board Member from 2017 through 2018 for the non-profit organization, Coloradoans for Responsible Energy Development (CRED), and as Treasurer and Executive Board Member for the Colorado Oil and Gas Association (COGA) from 2017 through 2019. Ms. Hudak received her M.S. in Geology from Duke University and her B.A. in Geology from Miami University.

Brian Steck, Chairman of the Board for Bonanza Creek commented, “We are excited to welcome Carrie to our Board of Directors. Carrie’s extensive experience in the oil and gas industry, and particularly her work in the DJ Basin, will provide us with valuable insights and further enhance the strategic perspectives of our Board.”

About Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. is an independent oil and natural gas company engaged in the acquisition, exploration, development, and production of oil and associated liquids-rich natural gas in the Rocky Mountain region of the United States. The Company’s assets and operations are concentrated in rural, unincorporated Weld County within the Wattenberg Field, focused on the Niobrara and Codell formations. The Company’s common shares are listed for trading on the NYSE under the symbol: “BCEI.” For more information about the Company, please visit www.bonanzacrk.com. Please note that the Company routinely posts important information about the Company under the Investor Relations section of its website.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the Company based on management’s experience, perception of historical trends and technical analyses, current conditions, anticipated future developments and other factors believed to be appropriate and reasonable by management. When used in this press release, the words “will,” “potential,” “believe,” “estimate,” “intend,” “expect,” “may,” “should,” “anticipate,” “could,” “plan,” “predict,” “project,” “profile,” “model” or their negatives, other similar expressions or the statements that include those words, are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These statements include statements regarding development and completion expectations and strategy; decreasing operating and capital costs; impact of the Company's reorganization; and updated 2019 guidance. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, that may cause actual results to differ materially from those implied or expressed by the forward-looking statements, including the following: changes in natural gas, oil and NGL prices; general economic conditions, including the performance of financial markets and interest rates; drilling results; shortages of oilfield equipment, services and personnel; operating risks such as unexpected drilling conditions; ability to acquire adequate supplies of water; risks related to derivative instruments; access to adequate gathering systems and pipeline take-away capacity; and pipeline and refining capacity constraints. Further information on such assumptions, risks and uncertainties is available in the Company’s SEC filings. We refer you to the discussion of risk factors in our Annual Report on Form 10-K for the year ended December 31, 2018, filed on February 28, 2019,our Quarterly Report on Form 10-Q for the quarter ended June 30, 2019, filed on August 7, 2019, and other filings submitted by us to the Securities Exchange Commission. The Company’s SEC filings are available on the Company’s website at www.bonanzacrk.com and on the SEC’s website at www.sec.gov. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Any forward-looking statement speaks only as of the date on which such statement is made, including guidance, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

For further information, please contact:

Scott Landreth

Senior Director, Finance & Investor Relations and Treasurer

720-225-6679

slandreth@bonanzacrk.com

XML

Cover	Oct. 30, 2019
Cover page.
Document Type	8-K
Document Period End Date	Oct. 30, 2019
Entity Registrant Name	Bonanza Creek Energy, Inc.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-35371
Entity Tax Identification Number	61-1630631
Entity Address, Address Line One	410 17th Street, Suite 1400
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	720
Local Phone Number	440-6100
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BCEI
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0001509589