August 23, 2014 12:06 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

Phone:

405-478-8770

Fax:

405-478-1947

Key Executives for Chaparral Energy Inc.

Co-Founder
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 Inc. Reports Consolidated Earnings and Production Results for the Second Quarter and Consolidated Earnings Results for the Six Months Ended June 30, 2014; Provides Production Guidance for the Year 2014

Chaparral Energy Inc. reported consolidated earnings and production results for the second quarter and consolidated earnings results for the six months ended June 30, 2014. For the quarter, the company reported adjusted EBITDA of $120.9 million. This is $10.1 million increase from previous quarter of $110.8 million, and a $23.6 million increase in the second quarter of 2013. Net loss was $8.4 million compared to net income during the first quarter of $4.4 million. Oil and gas capital expenditures were $192 million, compared to first quarter expenditures of $155.6 million. The company spent $130.8 million for drilling, $27.8 million towards enhancements, $9.5 million in pipeline and infrastructure, $18.9 million for acquisitions and $5 million for CO2 purchases during the second quarter. For the six months, the company reported net loss of $4 million versus a net income of $37.7 million in the same period in 2013. This loss is primarily due to noncash derivative transactions, which amounted to a loss of $65.2 million year-to-date. For the quarter, the company’s oil production was also up 24%, compared to the same period in 2013, and 8% higher than the previous quarter. Natural gas liquid production was up almost 14% over the second quarter of 2013, and up 25% from the first quarter, while gas production was up nearly 9% quarter-over-quarter, and almost 4% over the second quarter of 2013. Based on the results from first two quarters, the company is raising its 2014 production guidance from a range of 10.4 million barrels to 10.8 million barrels equivalent to a range of 10.6 million barrels to 11 million barrels equivalent. Using the midpoint of new guidance, this is an absolute 11% increase over 2013, even after the sale of Ark-La-Tex and Permian properties, and it's a 25% increase on a pro forma basis without the sold properties. The company expects to spend $158 million in capital to NOMP in 2014, with $34.3 million having been spent on drilling and completion activities during the second quarter.

Chaparral Energy Inc., Q2 2014 Earnings Call, Aug 14, 2014

Chaparral Energy Inc., Q2 2014 Earnings Call, Aug 14, 2014

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.

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Recent Private Companies Transactions

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

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