Chaparral Energy, Inc. (CHAP) 10-Q Quarterly Report Tue Nov 12 2019

- Chaparral Energy, Inc. (NYSE: CHAP) announced today its third quarter 2019 financial and operational results. The company will hold its quarterly earnings call Tuesday, November 12, at 9 a.m. Central.

Recent Highlights


•	Achieved third quarter 2019 total production of 26.2 thousand barrels of oil equivalent per day (MBoe/d) and STACK production of 21.5 MBoe/d, despite ethane rejection elections which lowered production by 0.5 MBoe/d, both within the guidance range and a 23% and 37% increase from the third quarter of 2018, respectively


•	Reported net loss of $130.9 million for the third quarter of 2019, or $2.86 per share, primarily driven by a $147.7 million non-cash ceiling test impairment; adjusted net income, as defined below, of $1.2 million, or $0.03 per share


•	Generated third quarter 2019 adjusted EBITDA, as defined below, of $35.8 million, an increase of 4% compared to the previous year despite oil (WTI) prices and natural gas liquids (NGLs) realizations decreasing approximately 19% and 52% over the same time period


•	Proactively reduced operated rig count from three to two rigs in October


•	Optimizing a one to two rig program in 2020 that will significantly reduce capital spend year over year, while growing production and allowing the company to become cash flow neutral


•	Decreased full year 2019 capex guidance to $260 to $280 million from $275 to $300 million, while maintaining full year production guidance at 25.0 to 27.0 MBoe/d


•	Reduced $18.1 million of debt through the sale of the corporate headquarters facilities and elimination of CO₂ compressor leases

The following information was filed by Chaparral Energy, Inc. (CHAP) on Tuesday, November 12, 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

Material Contracts, Statements, Certifications & more

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

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: CHAP
CIK: 1346980
Form Type: 10-Q Quarterly Report
Accession Number: 0001346980-19-000069
Submitted to the SEC: Tue Nov 12 2019 8:45:59 AM EST
Accepted by the SEC: Tue Nov 12 2019
Period: Monday, September 30, 2019
Industry: Crude Petroleum And Natural Gas

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

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