DENVER — Richard J. Carty has resigned as president, chief executive and member of the board of Bonanza Creek Energy Inc. (NYSE:BCEI), a Denver-based oil-and-gas company that primarily has assets concentrated in the Wattenberg Field, the bulk of which is in Weld County.
No reason was given for the resignation in the announcement made Monday.
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Seth Bullock, 43, a managing director of Houston-based Alvarez & Marsal LLC, has been named interim CEO to assist in the management transition in addition to running the company while the board searches for Carty’s replacement.
The board has approved the company’s 2017 capital program of approximately $130 million. Bonanza Creek plans to start a drilling and completion program around July 1,using one drilling rig in its Rockies program to drill approximately 24 wells.The company is in the process of completing its six drilled but uncompleted wells and expects to complete 18 of its new wells, totaling 24 completions for the year. Bonanza Creek will also participate in non-operated wells in the Wattenberg.