October 22, 2017 5:32 AM ET

Construction and Engineering

Company Overview of Chaparral Biofuels, L.L.C.

Company Overview

Chaparral Biofuels, L.L.C. constructs energy facility construction plants such as ethanol production plants. The company was incorporated in 2007 and is based in Oklahoma City, Oklahoma. Chaparral Biofuels, L.L.C. operates as a subsidiary of Chaparral Energy Inc.

701 Cedar Lake Boulevard

Oklahoma City, OK 73114

United States

Founded in 2007

Phone:

405-478-8770

Key Executives for Chaparral Biofuels, L.L.C.

Chaparral Biofuels, L.L.C. does not have any Key Executives recorded.

Chaparral Biofuels, L.L.C. Key Developments

First Amended Reorganization Plan Approved for Chaparral Energy Inc.

The US Bankruptcy Court approved the first amended plan of reorganization of Chaparral Energy Inc. on March 10, 2017. The debtor has filed its first amended plan in the Court on March 7, 2017. As per the approved plan, Administrative Claims of $0.05 million, Professional Fee Claims and Priority Tax Claims of $1,655 will be paid full in cash. Other Priority Claims, Other Secured Claims and Secured Tax Claims will be paid full in cash. Prepetition Credit Agreement Claims $444.44 million plus outstanding letters of credit of $0.83 million shall be paid through pro-rata share of Exit Facility loans. The debtor does not expect any other secured claims and secured tax claims. Prepetition Credit Agreement Claims are expected to recover 100% of the allowed amount. Claimant will get cash payment sufficient to satisfy the excess amount of loan, if any. Prepetition Notes Claims of $1.27 billion, comprising of 9.875% Senior Notes Claims of $315.98 million, 8.25% Senior Notes Claims of $406.14 million and 7.625% Senior Notes of $545.29 million, are expected to recover 65% of the allowed amount in the form of issuance of New Equity. General Unsecured Claim of $4.50 million is also expected to recover 54% of the allowed amount. Convenience Class Claim of $2.3 million will be paid in full. Debtor does not expect any Royalty Payment Litigation Claims and Intercompany Claims. Old Parent Interests will be cancelled without further notice. Old Affiliate Interests will remain effective and outstanding on the Effective Date. The plan will be funded through $225 million first-out revolving loan and $150 million second-out term loan. The issuance of New Equity Interests of Reorganized Parent in the form of New Class A Shares and New Class B Shares. A $50 million Noteholders Rights Offering to be offered to the Prepetition Noteholders.

First Amended Reorganization Plan Filed by Chaparral Energy Inc.

Chaparral Energy, Inc., along with its affiliates, filed first amended plan of reorganization in the US Bankruptcy Court on March 7, 2017. There were no changes in treatment of the claim classes in the amended plan.

Motion for Asset Sale Filed by Chaparral Energy Inc.

Chaparral Energy Inc. filed a motion in the US Bankruptcy Court seeking approval for the sale of certain assets on February 17, 2017. The debtor’s assets include Velma Pipeline and related assets. Under the proposed bidding procedures, interested parties should submit bids by March 21, 2017. All the bids shall be irrevocable until the earlier of closing of sale or July 31, 2017. Each bid should accompany with a good-faith deposit of 10% of the cash purchase price. Auction will be held on March 28, 2017. The stalking-horse bidder will be entitled to the bid protection of not more than 3% of cash portion of the purchase price.

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