Bonanza Creek Energy Inc (BCEI)

[legalizeMJ]

Link:Debt and Liquidity: GOOD NEWS.
1)
http://ih.advfn.com/p.php?pid=nmona&article=72106348

The Company has a $1.0 billion revolving credit facility, which was redetermined in May of 2016 to an approved borrowing base and commitment amount of $200 million. As of June 30, 2016, the Company had borrowings under its credit facility of $273.3 million and cash totaling $170.2 million. Upon redetermination of the Company's credit facility, its borrowings exceeded its borrowing base by $88 million. The Company has elected to pay this deficiency in six monthly installments as allowed under the terms of the credit facility agreement. During the quarter the Company paid off its remaining $12.0 million letter of credit and made its first credit facility deficiency payment of $14.7 million. The Company has subsequently paid its second deficiency payment of $14.7 million in July and has four remaining payments to be made on a monthly basis to remedy its credit facility deficiency. The Company's next redetermination is expected to happen in the fourth quarter of 2016. As of June 30, 2016, the Company was in compliance with all financial covenants under its credit facility, with a senior secured debt to TTM EBITDAX ratio of 1.5x, an interest coverage ratio of 3.2x, and a current ratio of 2.7x.

2) On 8/29/16, BCEI paid interest on its senior unsecured notes due 2023
Here's the link:
BCEI paid interest on its senior unsecured notes due 2023

http://ih.advfn.com/p.php?pid=nmona&article=72308151

Quote:In a separate matter, the Company has elected to pay interest on its senior unsecured notes due 2023. Interest on these notes was due on August 1, 2016, at which time the Company elected to not make the interest payment and enter into a 30-day grace period. By paying the interest within the 30-day grace period, the Company remains in compliance with its senior unsecured notes due 2023.


BCEI remains in compliance with its senior unsecured notes due 2023 and BCEI remains in compliance with ALL of its senior unsecured notes.

The above is GOOD NEWS, VERY GOOD NEWS.
BCEI is a Strong BUY.
BCEI is a GOOD oil and gas stock.
$$$$$$ Go BCEI