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Chaparral Energy, Inc. (CHAP) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Chaparral Energy, Inc.

CIK: 1346980 Ticker: CHAP


Exhibit 99.1

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Chaparral Energy Announces Second Quarter 2019 Financial and Operational Results
Oklahoma City, August 7, 2019
- Chaparral Energy, Inc. (NYSE: CHAP) announced today its second quarter 2019 financial and operational results. The company will hold its quarterly earnings call Thursday, August 8, at 9 a.m. Central.

Recent Highlights
Achieved second quarter 2019 total production of 28.3 thousand barrels of oil equivalent per day (MBoe/d), 1.5 MBoe/d above midpoint and 0.8 MBoe/d above high end of guidance and a 36% increase from the first quarter of 2019
Increased STACK production to 23.8 MBoe/d in the second quarter, 1.5 MBoe/d above midpoint and 0.8 MBoe/d above high end of guidance and a 50% increase from the first quarter of 2019
Reported net loss of $45.2 million for the second quarter of 2019, or $0.99 per share, which included a $63.6 million non-cash ceiling test impairment charge, partially offset by a $17.6 million non-cash derivative gain
Grew second quarter 2019 adjusted EBITDA, as defined below, to $43.7 million, an increase of 54% compared to the previous quarter
Decreased total company and STACK lease operating expense per Boe (LOE/Boe) to $5.19 and $3.90, respectively, a 21% decrease from the previous quarter for both
Lowered cash general and administrative expense per Boe (G&A/Boe), as defined below, to $2.52, which represents a 27% decrease from the previous quarter
Updated full year 2019 guidance, including a 5% reduction in total capital expenditures compared to the previous midpoint of the company’s guidance and decreases in LOE/Boe and cash G&A/Boe expense, while reaffirming its previously stated production range
Implemented proactive G&A cost reduction initiatives resulting in corporate workforce being reduced by 23% year to date and expected annualized G&A reductions of approximately 20% to 25% to better align G&A with current industry conditions
Continued drilling and completion execution improvements, with recent average Osage and Merge Miss well costs declining materially compared to the company’s 2018 average, ranging from $3.5 to $4.0 million in 2019
Finalized an agreement to sell the current corporate headquarters facilities; proceeds from the sale will be used to eliminate related debt of approximately $8.3 million and is expected to result in annual savings of approximately $1 million
Announced 120-day initial production (IP) results above oil type curve expectations from its 11-well cube style, co-development Foraker spacing test in Canadian County




The following information was filed by Chaparral Energy, Inc. (CHAP) on Thursday, August 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 (Inflation And Discount Rate) (Details)
Fair Value Measurements (Level 3 Rollforward) (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 Development Agreement) (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)
Subsequent Events
Subsequent Events (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)

Material Contracts, Statements, Certifications & more

Chaparral Energy, Inc. provided additional information to their SEC Filing as exhibits

Ticker: CHAP
CIK: 1346980
Form Type: 10-Q Quarterly Report
Accession Number: 0001346980-19-000030
Submitted to the SEC: Wed Aug 07 2019 5:45:47 PM EST
Accepted by the SEC: Thu Aug 08 2019
Period: Sunday, June 30, 2019
Industry: Crude Petroleum And Natural Gas

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