September 29, 2016 9:27 AM 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, 2015, it had estimated proved reserves of 155.5 million barrels of crude oil equivalent. The company was founded in 1988 and is headquartered in Oklahoma City, Oklahoma. On May 9, 2016, Chaparral Energy, Inc. along with its affiliates filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Dis...

701 Cedar Lake Boulevard

Oklahoma City, OK 73114

United States

Founded in 1988

427 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: 67
President, Chief Operating Officer, Director, Member of Audit Committee and Member of Compensation Committee
Age: 56
Chief Financial Officer, Principal Accounting Officer, Executive Vice President and Treasurer
Age: 62
Senior Vice President of Enhanced Oil Recovery Business Unit
Age: 54
Senior Vice President, General Counsel and Secretary
Age: 52
Compensation as of Fiscal Year 2016.

Chaparral Energy Inc. Key Developments

Bidding Procedure Approved for Chaparral Energy Inc.

The US Bankruptcy Court approved the procedures relating to the sale of certain de minimis assets of Chaparral Energy, Inc. on August 15, 2016. As per the order, debtor has been authorized to sell de minimis as per the approved procedures. If the sale price is less than $0.40 million debtor has been authorized to consummate the transaction without any further order from the court. For sale of de-minimis assets with sale price greater than $0.4 million and less than $4 million, debtors has been to close the sale by filing the sale notice and getting approval from the parties receiving the sale notice. For the asset sale of above $4 million, debtor should file a motion in the US Bankruptcy Court seeking authority to consummate the sale.

Motion for Asset Sale Filed by Chaparral Energy Inc.

Chaparral Energy, Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets on July 27, 2016. The debtor seeks the Court’s approval for bidding procedures regarding sale of its de-minimis assets. If the sale price is less than $0.4 million debtors seeks to be authorized to consummate the transaction without any further order from the court. For sale of de-minimis assets with sale price greater than $0.4 million and less than $4 million debtors seek to close the sale by filing the sale notice and getting approval from the parties receiving the sale notice. The debtor also seeks the authority to abandon assets with recorded book value less than $4 million in case of its failure to sell the assets. The sale hearing is scheduled for August 17, 2016.

Chaparral Energy Inc. Auditor Raises 'Going Concern' Doubt

Chaparral Energy Inc. filed its 10-K on Mar 30, 2016 for the period ending Dec 31, 2015. In this report its auditor, Grant Thornton, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

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Recent Private Companies Transactions

Type
Date
Target
Bankruptcy
May 9, 2016
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