August 01, 2014 12:38 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 acquires, explores for, develops, produces, and operates oil and natural gas properties located in Oklahoma, Texas, New Mexico, Louisiana, Arkansas, and Kansas. The company also operates CO2 enhanced oil recovery projects. As of December 31, 2013, it had estimated proved reserves of 158.5 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

718 Employees





Key Executives for Chaparral Energy Inc.

Age: 65
President and Chief Operating Officer
Age: 54
Chief Financial Officer
Age: 60
Chief Corporate Development Officer and Senior Vice President
Age: 48
Senior Vice President of Production Operations
Age: 52
Compensation as of Fiscal Year 2014.

Chaparral Energy Inc. Key Developments

Chaparral Energy Reports Earnings and Production Results for the First Quarter of 2014; Provides Capital Expenditure Guidance for the Year 2014

Chaparral Energy reported earnings and production results for the first quarter of 2014. For the quarter, the company's revenues before hedges were $173.3 million, representing a 36% increase compared to the first quarter of 2013. The company's adjusted EBITDA of $110.8 million represented a 34% increase over the prior year. Capital expenditure were $101 million. For the quarter, the company recorded average daily production of 28,789 barrels of oil equivalent per day, and that's a 15% -- 15.5% from the same period last year. Total production for the quarter was 2.6 million barrels of oil equivalent, which is a 2% increase in volume over the fourth quarter. The company's 2014 quarterly production consisted of 1.4 million barrels of oil, 5.2 Bcf of natural gas and 300,000 barrels of natural gas liquids. For the full year 2014, the company expects to spend approximately $386.3 million on capital expenditure.

Chaparral Energy Inc., Q1 2014 Earnings Call, May 09, 2014

Chaparral Energy Inc., Q1 2014 Earnings Call, May 09, 2014

Chaparral Energy Inc. Announces Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Announces Production Results for the Fourth Quarter, Full Year Ended December 31, 2013 and for the First Quarter of 2014; Provides Production Guidance for the Year of 2014 and 2015; Provides Earnings Guidance for 2014

Chaparral Energy Inc. Announces earnings and production results for the fourth quarter and year ended December 31, 2013. For the year end, EBITDA was $389 million, as it grew 15.4% over the previous year EBITDA of $337 million. It’s total capital expenditures for the year would be $515.8 million, which is a minor increase compared to the 2011- 2012 total of $511.9 million. In total, the company actually spent $669.7 million during the year, which is an increase of about 31% when compared to the prior year due primarily again to the $153.9 million associated with It’s Cabot acquisition. It’s net income for the year was $55.7 million compared to $64.4 million for 2012. Adjusted EBITDA for the year was $389 million, which is $51.8 million or 15.4% increase from It’s 2012. For the fourth quarter of 2013, net income was $20.5 million. EBITDA of $337.2 million. The company had $107.9 million adjusted EBITDA. LOE was $14.35 per Boe, which is relatively flat compared to it’s 2012 LOE of $14.36 per Boe. The company also provided earnings guidance for 2014. In 2014, the company expects it's 2014 capital expenditures to be in the range of $625 million to $650 million. The company currently plan to spend approximately $386.3 million on drilling, including $336.1 million for drilling in it’s repeatable resIt’sce plays. expect it’s 2014 LOE to be in the range of $13 to $13.50 per Boe, down approximately 8% from 2013. During year of 2013, the company produced 9.7 million barrels of oil equivalent, which represents a 6.8% increase from 2012 production of 9.1 million barrels of oil equivalent. This increase was obtained even after $109 million in property sales during the year and with 25% of it’s capital budget directed towards EOR with no immediate production response. It’s 2013 production consisted of 5 million barrels of oil, 20.3 Bcf of natural gas and 1.4 million barrels of natural gas liquids. During the fourth quarter, production was 2.5 million barrels of oil equivalent, which is up 2.5% from the third quarter's production. On a per-day basis, production was 27,641 barrels of oil equivalent per day, up sequentially from third quarter's production of 26,924 barrels of oil equivalent per day and up from 27,207 barrels of oil equivalent per day realized during the fourth quarter of 2012. Most of these gain, when compared to last year, can be attributed to very good results from the drilling in the Northern Oklahoma-Mississippi Play and it’s Marmaton Play and the remainder coming from It’s EOR projects. Oil and NGL production was up almost 4% over the fourth quarter of 2012, while gas production in the fourth quarter was down approximately 3% from a year ago. operating teams have driven a time between spud the first production from 79 days in early 2012 to an average of 38 days for the first quarter of 2013. This improved execution and strong well performance has enabled to grow it’s NOMP net production to over 3,900 Boe per day in 2013 from an average of 1,400 Boe per day in 2012. First quarter 2014 results continued to exceed it’s expectations. 3 notable wells that came on production is the are the Aardvark 1H-18, which had a gross IP rate of 499 Boe per day; and the Dover Unit; Blue Jay 1H-22, which had an IP of 1,200 Boe per day; and Delee [ph] 1-H1, which had an IP of over 800 Boe per day. The company provided production guidance for the year of 2014 and 2015. The company expects it’s 2014 production to be in the range of 10.4 million to 10.8 million barrels of oil equivalent. Using the midpoint, this is an absolute 9% increase over 2013, even after the expected sale of it’s Ark-La-Tex properties. The company is currently running 3 rigs in the NOMP and anticipate increasing to 5 rigs by the end of the second quarter of 2014 as The company continues to derisk and develop It’s sizable acreage position. The company expects the combination of these growth strategies to enable to achieve solid oil production growth for the foreseeable future. It is important to note, again, that 99% of it’s capital budget in 2013 was directed towards oil-producing activities, and this will be similar in 2014. For 2014, the company has approximately 6.7 million barrels of oil hedged at an average floor and strike price of $94.64 per barrel. On gas hedges, The company has approximately 21.1 billion Btus of gas hedged at an average $4.03 per million Btu. In 2015, The company has approximately 6.1 million barrels of oil hedged at an average price of $92.92 per barrel and 22.2 billion Btus of gas hedged at an average price of $4.20 per million Btu.

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Recent Private Companies Transactions

May 30, 2014
Chaparral Energy Inc., Central Basin Properties Located In Texas And Southeast New Mexico
April 30, 2014
Chaparral Energy Inc., Ark-La-Tex Properties
April 10, 2014
Chaparral Energy Inc., Delaware Basin and Eastern Shelf/Ft

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