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Chaparral Energy, Inc. (CHAP) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Chaparral Energy, Inc.

CIK: 1346980 Ticker: CHAP


Exhibit 99.1

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Chaparral Energy Announces First Quarter 2019 Financial and Operational Results
Oklahoma City, May 8, 2019
- Chaparral Energy, Inc. (NYSE: CHAP) announced today its first quarter 2019 financial and operational results. The company will hold its quarterly earnings call Thursday morning, May 9 at 9 a.m. Central.

Recent Highlights
Achieved first quarter 2019 total company production of 20.8 thousand barrels of oil equivalent per day (MBoe/d), near the midpoint of guidance
Recorded STACK production of 15.9 MBoe/d in the first quarter 2019, within guidance range and represents a 30% increase from the first quarter 2018
Reported net loss of $103.5 million for the first quarter 2019, or $2.28 loss per share, which included $51.5 million in non-cash derivative losses and a $49.7 million non-cash ceiling test impairment charge
Achieved first quarter 2019 adjusted EBITDA, as defined below, of $28.3 million
Announced 30-day initial production (IP) results well above type curve expectations from the first three wells of its 11-well cube style, co-development Foraker spacing test in Canadian County
Reaffirmed $325 million borrowing base at semi-annual spring redetermination

“We continue to deliver strong quarterly results within our guidance ranges,” said Chief Executive Officer Earl Reynolds. “At our semi-annual redetermination, we reaffirmed our $325 million borrowing base, demonstrating the considerable value of our differentiated STACK/Merge acreage. We continue to build on our operational excellence, which is evident in our cost per lateral drilling foot, increased drilling footage per day, more efficient frac designs and increased frac stages per day.”

“In addition, we have seen outstanding drilling, completion and early production results from the first three wells of our 11-well cube style, co-development Foraker spacing test, which we brought online in late March,” said Reynolds. “With two Meramec wells and a Woodford well, the initial results from the first three wells have been very encouraging, as they have recorded an average 30-day IP of more than 1,290 Boe/d. The remaining eight wells were brought online early in the second quarter and although we do not yet have 30-day IP rates for those wells, early results are in line with or exceeding those of the first three wells. I am extremely excited about these early results and very proud of our team and their execution on this project as we were able to bring these wells to first sales ahead of schedule while



The following information was filed by Chaparral Energy, Inc. (CHAP) on Wednesday, May 8, 2019 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 (Unaudited)
Consolidated Balance Sheets (Unaudited) (Parenthetical)
Consolidated Statement Of Stockholders' Equity (Unaudited)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Operations (Unaudited)
Asset Retirement Obligations
Asset Retirement Obligations (Details)
Asset Retirement Obligations (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Components Of Debt) (Details)
Debt (Credit Facility) (Details)
Debt (Senior Notes) (Details)
Debt (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 (Balance Sheet At Fair Value) (Details)
Derivative Instruments (Derivative (Losses) Gains In The Consolidated Statements Of Operations) (Details)
Derivative Instruments (Summary Of Derivatives Outstanding) (Details)
Derivative Instruments (Tables)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Counterparty Credit Risk) (Details)
Fair Value Measurements (Derivatives Offset In Balance Sheet) (Details)
Fair Value Measurements (Level 3 Rollforward) (Details)
Fair Value Measurements (Nonrecurring) (Details)
Fair Value Measurements (Other Financial Instruments) (Details)
Fair Value Measurements (Recurring) (Details)
Fair Value Measurements (Tables)
Leases
Leases (Balance Sheet Disclosures) (Details)
Leases (Financing Leases) (Details)
Leases (Impact Of Adoption) (Details)
Leases (Lease Assets And Liabilities, Additional Information) (Details)
Leases (Lease Cost) (Details)
Leases (Maturity Schedule) (Details)
Leases (Operating Leases) (Details)
Leases (Short Term Leases) (Details)
Leases (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 (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 Expense) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies (Policies)
Nature Of Operations And Summary Of Significant Accounting Policies (Property And Equipment) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies (Revenue Recognition) (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)
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: 0001346980-19-000022
Submitted to the SEC: Wed May 08 2019 6:14:06 PM EST
Accepted by the SEC: Thu May 09 2019
Period: Sunday, March 31, 2019
Industry: Crude Petroleum And Natural Gas

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