Bonanza Creek Energy Inc (BCEI)

[eFinanceMarkets]

Bonanza Creek Energy emerges from Chapter 11

Bonanza Creek Energy (BCEI +5.4%) says it has emerged from Chapter 11 bankruptcy after successfully completed its prepackaged restructuring.
Legacy equity shareholders received 4.5% of the reorganized company's common stock, subject to dilution, and warrants to purchase up to 7.5% of the reorganized stock for a term of three years.

BCEI plans to resume drilling and completion activity around June 1, operating a one-rig program for the remainder of the year.