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Chaparral Energy, Inc. (CHAP) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Chaparral Energy, Inc.

CIK: 1346980 Ticker: CHAP


Exhibit 99.1

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Oklahoma City, November 13, 2018
- Chaparral Energy, Inc. (NYSE: CHAP) today announced its third quarter 2018 financial and operational results with the filing of its form 10-Q. The company will hold its quarterly financial and operating results conference call this morning, November 13, at 10 a.m. Central.

Third Quarter Highlights and Recent Key Items
Grew STACK production 53% on a year-over-year basis and 19% on a quarter-over-quarter basis to 15,663 barrels of oil equivalent per day (Boe/d)
Increased full year STACK production guidance by 7% to 14,250 - 14,750 Boe/d
Reported a net loss of $12.1 million, driven by a $16.8 million non-cash loss associated with commodity derivatives
Generated adjusted EBITDA, as defined below, of $34.3 million, an increase of 27% on a quarter-over-quarter basis
Decreased STACK lease operating expense per barrel of oil equivalent (LOE/Boe) by 18% on a quarter-over-quarter basis to $4.34
Reduced full year total company LOE/Boe guidance to $7.25 - $7.65
Uplisted to the New York Stock Exchange (NYSE), under the new symbol “CHAP”

“Chaparral continued to deliver strong operational and financial results in the third quarter,” said Chief Executive Officer Earl Reynolds. “Our STACK wells on average continued to outperform type curve expectations and drove considerable STACK production growth of almost 20% quarter-over-quarter. In addition, we saw extremely encouraging early results from our initial Canadian County Merge Miss partial section spacing test. The three-well Denali pad, which came online in August, had an average 30-day peak initial production rate of more than 1,200 Boe/d per well, with 75% liquids. Based on these results we believe our Canadian County Merge Miss acreage could have as many as eight to nine wells per section. We will continue to conduct more spacing tests, which in the near-term includes a Kingfisher County partial section, five-well test scheduled to come online during the fourth quarter and an 11-well spacing test in Canadian County. Our 11-well spacing test, which includes a nine-well Merge Miss full section test and a two-well Woodford partial section test, is slated to come online in early 2019. As a result of our consistent STACK drilling success and our strong balance sheet, we added a fourth drilling rig in October and increased our full year guidance for both total company and STACK production.”

“In addition, we also saw continued improvement in our STACK LOE/Boe during the quarter, with costs below $4.50 per barrel,” said Reynolds. “We expect to sustain these lower LOE costs moving forward and, as such, are lowering our full year total company LOE/Boe guidance to a range of $7.25 - $7.65. For the quarter, we also saw significant growth in our adjusted EBITDA, which was driven by our production growth, cost management and higher realized pricing. Adjusted EBITDA for the third quarter rose 27% quarter-over-quarter to $34.3 million, and we now have delivered $90.6 million of adjusted EBITDA year-to-date.”

“Finally, the company achieved a significant milestone during the early part of the third quarter with the uplisting of our common stock in July from the OTCQB market to the NYSE. This move provides us access to a much larger potential investor base and should ultimately generate more liquidity for our stock as we work to create long-term value for our stockholders,” concluded Reynolds.







The following information was filed by Chaparral Energy, Inc. (CHAP) on Tuesday, November 13, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Asset Retirement Obligations
Asset Retirement Obligations (Details)
Asset Retirement Obligations (Tables)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Details)
Debt And Capital Leases
Debt And Capital Leases (8.75% Senior Notes) (Details)
Debt And Capital Leases (Capital Leases) (Details)
Debt And Capital Leases (Components Of Debt Non-Printing) (Details)
Debt And Capital Leases (Components Of Debt) (Details)
Debt And Capital Leases (New Credit Facility) (Details)
Debt And Capital Leases (Tables)
Deferred Compensation
Deferred Compensation (2017 Management Incentive Plan) (Details)
Deferred Compensation (2018 Employee Ltip) (Details)
Deferred Compensation (Cash Incentive Plan) (Details)
Deferred Compensation (Companywide Stock Award) (Details)
Deferred Compensation (Stock-Based Compensation Cost) (Details)
Deferred Compensation (Tables)
Derivative Instruments
Derivative Instruments (Derivative (Losses) Gains In The Consolidated Statements Of Operations) (Details)
Derivative Instruments (Derivative Instruments Recorded On The Balance Sheet At Fair Value - Non-Printing) (Details)
Derivative Instruments (Derivative Instruments Recorded On The Balance Sheet At Fair Value) (Details)
Derivative Instruments (Tables)
Derivative Instruments - Additional Information (Details)
Derivative Instruments - Summary Of Derivatives Outstanding (Details)
Divestitures
Divestitures - Additional Information (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Details)
Earnings Per Share - Schedule Of Basic And Diluted Earnings Per Share (Details)
Earnings Per Share - Schedule Of Basic And Diluted Earnings Per Share - Non-Printing (Details)
Fair Value Measurements
Fair Value Measurements (Counterparty Credit Risk) (Details)
Fair Value Measurements (Derivatives Offset In The Consolidated Balance Sheets) (Details)
Fair Value Measurements (Fair Value Of Other Financial Instruments) (Details)
Fair Value Measurements (Level 3 Rollforward) (Details)
Fair Value Measurements (Nonrecurring Fair Value Measurements) (Details)
Fair Value Measurements (Recurring Fair Value Measurements) (Details)
Fair Value Measurements (Tables)
Nature Of Operations And Summary Of Significant Accounting Policies
Nature Of Operations And Summary Of Significant Accounting Policies (Cash And Accounts Receivable) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies (Cost Reduction Initiatives) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies (Income Taxes) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies (Inventories) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies (Joint Venture) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies (Other) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies (Policies)
Nature Of Operations And Summary Of Significant Accounting Policies (Reorganization, Fresh Start Accounting And Comparability Of Financial Statements To Prior Periods) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies (Schedule Of Reorganization Items) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies (Tables)
Nature Of Operations And Summary Of Significant Accounting Policies (Unevaluated Oil And Natural Gas Properties) (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Details)
Revenue Recognition - Revenue Disaggregated And Reconciles Disaggregated Revenue To Revenue Reported (Details)
Revenue Recognition - Summary Of Impact Of Adoption Of Accounting Standards (Details)
Supplemental Disclosures To The Consolidated Statements Of Cash Flows
Supplemental Disclosures To The Consolidated Statements Of Cash Flows (Details)
Supplemental Disclosures To The Consolidated Statements Of Cash Flows (Tables)
Ticker: CHAP
CIK: 1346980
Form Type: 10-Q Quarterly Report
Accession Number: 0001346980-18-000007
Submitted to the SEC: Tue Nov 13 2018 8:49:57 AM EST
Accepted by the SEC: Tue Nov 13 2018
Period: Sunday, September 30, 2018
Industry: Crude Petroleum And Natural Gas

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