Bonanza Creek to repay revolver borrowings with common stock proceeds

By Tali Rackner

Norfolk, Va., Feb. 3 – Bonanza Creek Energy, Inc. plans to repay all of the outstanding borrowings under its revolving credit facility with the proceeds from a common stock offering, according to a press release.

Proceeds will also be used for general corporate purposes, which may include funding Bonanza Creek’s drilling and development program and other capital expenditures.

The oil and natural gas company is based in Denver.

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