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July 05, 2015 5:59 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Chaparral Energy Inc.

Company Overview

Chaparral Energy, Inc. operates as an independent oil and natural gas exploration and production company in the United States. It is involved in the acquisition, exploration, development, production, and operation of oil and natural gas properties primarily in Oklahoma and Texas. The company also operates CO2 enhanced oil recovery projects. As of December 31, 2014, it had estimated proved reserves of 159.4 million barrels of crude oil equivalent. The company was founded in 1988 and is headquartered in Oklahoma City, Oklahoma.

701 Cedar Lake Boulevard

Oklahoma City, OK 73114

United States

Founded in 1988

684 Employees

Phone:

405-478-8770

Key Executives for Chaparral Energy Inc.

Co-Founder, Chairman, Chief Executive Officer, Member of Audit Committee and Member of Compensation Committee
Age: 66
President, Chief Operating Officer, Director, Member of Audit Committee and Member of Compensation Committee
Age: 55
Chief Financial Officer, Principal Accounting Officer, Executive Vice President and Treasurer
Age: 61
Senior Vice President of Enhanced Oil Recovery
Age: 53
Senior Vice President of Drilling Operations
Compensation as of Fiscal Year 2015.

Chaparral Energy Inc. Key Developments

Chaparral Energy Inc. Reports Earnings and Operating Results for the First Quarter Ended March 31, 2015; Provides Capital Expenditure Guidance for the Year 2015

Chaparral Energy Inc. reported earnings and operating results for the first quarter ended March 31, 2015. The company reported average total production of 31.4 MBoe/d during the first quarter, a 26% increase year over year pro-forma for the sale of its Ark-La-Tx properties. For the quarter, the company produced 31.4 MBoe/d of which 56% was oil, 15% NGLs and 29% gas. This accounts for a 26% production increase on a year over year pro-forma basis and an absolute 9% increase compared to the fourth quarter of 2014. The company drilled 15 gross operated E&P wells in the first quarter, with nine in the Mississippi Lime, three in the Oswego, two in the Marmaton, and one in the Meramec. The company's adjusted EBITDA at the end of the first quarter was $120.8 million compared to $109.7 million during the previous quarter, a 10% increase quarter over quarter and an absolute 9% increase year over year. On a pro-forma basis, adjusted EBITDA grew more than 21% on a year over year basis. Oil and gas revenues before the effects of hedging activities totaled $93.1 million compared to $173.3 million in the first quarter of 2014. Despite increased year over year production, revenues decreased by 46% in the first quarter of 2015 compared to the first quarter of 2014 primarily due to a 51% drop in average realized prices. Despite the drastic change in prices from the first quarter of 2014 to 2015, company’s net income remained relatively flat at $4.4 million in 2014 to $4.2 million in 2015. The total capital expenditure for the first quarter was $71.6 million, with $44.9 million for drilling and completion in its E&P areas, $13.8 million for EOR project areas and $9.2 million for acquisition of oil and natural gas properties and leasehold. The company expects its capital expenditure for 2015 to be more heavily-focused in the first half of the year with 40% of its annual budget incurred as of March 31, 2015 and increasing to approximately 60% to be incurred by mid-year.

Chaparral Energy Inc. to Report Q1, 2015 Results on May 12, 2015

Chaparral Energy Inc. announced that they will report Q1, 2015 results at 5:33 PM, GMT Standard Time on May 12, 2015

Chaparral Energy Inc., Q1 2015 Earnings Call, May 12, 2015

Chaparral Energy Inc., Q1 2015 Earnings Call, May 12, 2015

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 27, 2015
Chaparral Energy Inc., Working Interest In Producing Wells & Leaseholds In Northeastern Oklahoma
Merger/Acquisition
November 6, 2014
Chaparral Energy Inc., Leasehold Interests in 5 Counties in Texas
 

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