Case Background

Chapter 11 Filing

On January 4, 2017 Bonanza Creek Energy, Inc. and six  affiliated debtors (collectively, the "Debtors") each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.  The cases are pending before the Honorable Kevin J. Carey and are jointly administered under Case No. 17-10015.

Solicitation of Prepackaged Plan

On December 23, 2016, Bonanza Creek Energy, Inc. (“Bonanza Creek”) announced that it entered into a Restructuring Support Agreement with certain holders of its 5.75% senior notes due 2023 and 6.75% senior notes due 2021, NGL Energy Partners LP and NGL Crude Logistics, LLC on the terms of a restructuring.  In order to facilitate the restructuring, Bonanza Creek and all of its subsidiaries (collectively the “Debtors”) have launched solicitation of certain creditor classes for votes to accept or reject a prepackaged plan of reorganization that contemplates the Debtors filing voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. 

Bonanza Creek expects its operations to continue in the ordinary course throughout the court-supervised process.

Click here to view the company’s Restructuring Support Agreement press release.

Important Information & Dates

First Day Motions and Orders

A hearing on the Debtors' First Day Motions was held on January 5, 2017 at 2:30 PM (ET) before the Honorable Kevin J. Carey, United States Bankruptcy Court for the District of Delaware, 824 Market Street North, 5th Floor, Courtroom #5, Wilmington, DE 19801.  A final hearing on certain of the First Day Motions was held on January 30, 2017 at 3:00 PM (ET). Please click below to view and download the First Day Motions and the First Day Orders:

First Day Motions

First Day Orders

Solicitation Dates

The Voting Record Date was Tuesday December 20, 2016.

The voting and equity opt out deadline was Wednesday, February 8, 2017 at 6:00 PM (ET).

Plan & Disclosure Statement

A combined hearing to consider approval of the Disclosure Statement and confirmation of the Prepackaged Plan of Reorganization will be held on April 3, 2017 at 10:00 AM (ET). 

Please click below to view all documents related to the Plan and Disclosure Statement:

Plan and Disclosure Statement

Dates

April
3

Combined Hearing on Disc...

10:00 AM (ET)
May
2

Omnibus Hearing

11:00 A.M. (ET)
December
20
N/A

Voting Record Date

January
23
3:00 PM Eastern
February
8
6:00 PM Eastern

Extended Voting Deadline

Parties

Debtors' Counsel

Davis Polk & Wardwell LLP

450 Lexington Avenue
New York, NY   10017
http://www.davispolk.com
Phone: 212.450.4000
Fax: 212.607.7983
Marshall S. Huebner
Brian M. Resnick
Adam L. Shpeen

Richards, Layton & Finger, P.A.

One Rodney Square
920 North King Street
Wilmington, DE   19801
http://www.rlf.com
Phone: 302.651.7700
Fax: 302.651.7701
Mark D. Collins
Amanda R. Steele
Brendan J. Schlauch

Debtors' Restructuring Advisors

Alvarez & Marsal North America LLC

700 Louisiana Street
Houston, TX   77002
http://www.alvarezandmarsal.com
Phone: 713.571.2400
Fax: 713.574.3697
R. Seth Bullock

United States Trustee and Court Information

Office of the United States Trustee

844 King Street
Suite 2207 Lockbox 35
Wilmington, DE   19801
https://www.justice.gov/ust-regions-r03/region-3-district-delaware
Phone: 302-573-6491
Fax: 302-573-6497
David L. Buchbinder

United States Bankruptcy Court

824 Market St., 5th Fl.
Courtroom #5
Wilmington, DE   19801
http://www.deb.uscourts.gov/


Debtors

Case Number
Debtor Name
Petition Date
17-10015 Bonanza Creek Energy, Inc. January 04, 2017
17-10016 Bonanza Creek Energy Operating Company, LLC January 04, 2017
17-10017 Bonanza Creek Energy Resources, LLC January 04, 2017
17-10018 Holmes Eastern Company, LLC January 04, 2017
17-10019 Rocky Mountain Infrastructure, LLC January 04, 2017
17-10020 Bonanza Creek Energy Upstream LLC January 04, 2017
17-10021 Bonanza Creek Energy Midstream, LLC January 04, 2017