Bonanza Creek Energy Inc was incorporated in December 2, 2010 in the state of Delaware. The Company is an independent energy company engaged in the acquisition, exploration, development and production of onshore oil and associated liquids rich natural gas in the United States. It owns and operates oil producing assets in the North Park Basin in Colorado and the McKamie Patton Field in Southern Arkansas. Currently the Company is focused on the horizontal development of significant resource potential from the Niobrara and Codell formations in the Wattenberg Field, expecting to invest approximately 85% of its 2014 capital budget in this project. The remaining 15% is allocated to the vertical development of the Dorcheat Macedonia and McKamie Patton Fields in southern Arkansas. In 2013 the Company had drilled 134 and completed 121 productive operated wells and participated in drilling 12 and completing 4 productive non-operated wells. The Company had 17 operated wells in progress as of December 31, 2013. The Company's oil and liquids weighted assets are concentrated in the Wattenberg Field in Colorado, which has designated as the Rocky Mountain region, and the Dorcheat Macedonia Field in Southern Arkansas, which has designated as the Mid Continent region. The two areas in which the Company operates in the Rocky Mountain region are the Wattenberg Field in Weld County, Colorado and the North Park Basin in Jackson County, Colorado. As of December 31, 2013 the Wattenberg position consisted of approximately 40,000 gross acres. The Wattenberg Field is now developed for the Niobrara and Codell formations using horizontal drilling and multi-stage fracture stimulation techniques. In Mid Continent region, in southern Arkansas, the Company targets the oil-rich Cotton Valley sands in the Dorcheat Macedonia and McKamie Patton Fields. As of December 31, 2013, the estimated proved reserves in this region were 20,744 MBoe, 69% of which were oil and natural gas liquids and 59% of which were proved developed. The Company currently operates 237 producing vertical wells and, as of December 31, 2013, have an identified drilling inventory of approximately 112 gross PUD drilling locations on its acreage. The Company's customers include Plains Marketing LP, Lion Oil Trading & Transportation, Inc., and High Sierra Crude Oil & Marketing, among others. The Company competes with number of other companies that have greater resources. The Company is subject to federal, state and local laws and regulations.