Bonanza Creek Energy, Inc. provided capital expenditure guidance for the full year of 2013. The company's total capital expenditures for 2013 are estimated to be $394 million, allocated approximately 80% to the Wattenberg Field and 20% to southern Arkansas. Actual capital expenditures are subject to a number of factors, including economic conditions and commodity prices, and the company has the flexibility to reduce or augment the budget as appropriate.

This capital investment is expected to produce 2013 average sales volumes of 14,500 barrels to 16,000 barrels of oil equivalent per day, while maintaining a strong oil and liquids profile. In the Wattenberg Field, the Company expects to invest $282 million to drill 72 gross (64.5 net) operated horizontal wells. The Company plans to begin the year with two operated rigs and increase to four by early in the second quarter.

Of these planned wells, approximately 90% are currently categorized as unproved locations. In the Niobrara B Bench, the Company plans to drill approximately 56 standard 4,000 ft. lateral wells, two extended reach lateral wells and a six well 40-acre spaced pilot.

The remaining program will continue the testing of additional resource potential with four wells each in the Niobrara C Bench and Codell formation. This program will increase the Company's operated 4,000 ft. laterals on production from 38 at year-end 2012 to 109 by year-end 2013.

Total capital spending in Colorado is expected to be approximately $323 million, which includes participation in two net non-operated wells, seismic and other maintenance capital. In Arkansas, Bonanza Creek plans to spend approximately $60 million to drill 36 gross (30.6 net) wells and recomplete 114 gross (98.2 net) wells. It will also continue testing the potential for 5-acre spacing in the Dorcheat-Macedonia field.

The third installment to the Company's gas processing facilities is expected to be online in first quarter 2013, bringing total processing capacity to approximately 40 million cubic feet per day. Total capital investment in Arkansas is expected to be approximately $70 million, which includes remaining capital allocated to the gas plant expansion and other maintenance capital.