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Bonanza Creek Energy Appoints New CEO

Bonanza Creek Energy, Inc. announced the hiring of Eric T. Greager as Chief Executive Officer. Mr. Greager’s appointment as President and Chief Executive Officer will take effect on April 11, 2018.

Greager, 47, will be assuming the role from R. Seth Bullock, a managing director of Alvarez & Marsal, who has served as the Company’s interim Chief Executive Officer since June of 2017.

“After a comprehensive search and on behalf of the Board of Directors, we are pleased to welcome Eric Greager to Bonanza Creek. Eric has the right background, leadership and cultural disposition to successfully lead our Company. He has a track record of success and continuous improvement, and we are confident that he will help strengthen Bonanza Creek, drive returns and cash flow growth, and create value for our shareholders, employees and community. Eric is a terrific asset, and we are excited to welcome him to the team,” said Jack E. Vaughn, Chairman of Bonanza Creek.  “On behalf of the Board of Directors, I would also like to thank Seth for all of his hard work leading Bonanza Creek over the past ten months.”

Greager, previously served as a Vice-President and General Manager at Encana Oil & Gas (USA) Inc., joined Encana in 2006 and served in various management and executive positions, including as a member of the boards of directors of Encana Procurement Inc. and Encana Oil & Gas (USA) Inc.

Furthermore, he serves on the board of trustees of the Texas Parks and Wildlife Foundation and previously served on the board of directors of Western Energy Alliance and the board of managers of Hunter Ridge Energy Services.  He received his Master’s Degree in Economics from the University of Oklahoma and his Bachelor’s Degree in Engineering from the Colorado School of Mines.

Greager brings 20 years of management experience in oil and gas includes roles leading engineering, geoscience and A&D functions, as well as field operations teams from D&C through production.  Most recently, Greager led Encana’s Western Operating Area, which includes Eagle Ford, San Juan and Wind River assets.  His experience with both the operating and technical aspects of the D-J Basin and his demonstrated leadership of several units within Encana have led the Board of Directors of Bonanza Creek to conclude that he will be a superb leader of the Company as it executes its development plan.

About Bonanza Creek Energy, Inc.

Bonanza Creek Energy, Inc. is an independent oil and natural gas company engaged in the acquisition, exploration, development and production of onshore oil and associated liquids-rich natural gas in the United States. The Company’s assets and operations are concentrated primarily in the Rocky Mountain region in the Wattenberg Field, focused on the Niobrara and Codell formations, and in southern Arkansas, focused on oily Cotton Valley sands. The Company’s common shares are listed for trading on the NYSE under the symbol: “BCEI.” For more information about the Company, please visit www.bonanzacrk.com. Please note that the Company routinely posts important information about the Company under the Investor Relations section of its website.