Chaparral Energy, Inc. (CHAP) 10-Q Quarterly Report May 2020

- Chaparral Energy, Inc. (NYSE: CHAP), (the “Company” or “Chaparral”) announced today its fourth quarter and full year 2019 financial and operational results. The Company will hold its quarterly earnings call Thursday, March 12, at 9 a.m. Central.

Highlights


•	Achieved fourth quarter 2019 production of 29.7 thousand barrels of oil equivalent per day (MBoe/d), exceeding the high end of guidance


◦	Delivered full year production, lease operating expense per barrel of oil equivalent (LOE/Boe), cash general & administrative expense per barrel of oil equivalent (G&A/Boe), and total capital expenditures within original production guidance and updated lower expense and capital guidance ranges


•	Reported net loss of $189.2 million for the fourth quarter of 2019, or $4.14 per share, primarily driven by a $169.7 million non-cash ceiling test impairment and non-cash mark to market losses on derivatives of $25.5 million; adjusted net income, as defined below, was $12.6 million, or $0.28 per share


◦	Reported net loss of $468.9 million for 2019, or $10.28 per share, primarily driven by a $430.7 million non-cash ceiling test impairment and non-cash mark to market losses on derivatives of $40.8 million; adjusted net income, as defined below, was $20.6 million, or $0.45 per share


•	Grew fourth quarter 2019 adjusted EBITDA, as defined below, to $46.7 million, an increase of 30% compared to the previous quarter


◦	Generated $154.5 million of adjusted EBITDA in full year 2019, an increase of 24% over 2018 despite oil (WTI) prices, natural gas (HH) prices and natural gas liquids (NGLs) realizations decreasing approximately 12%, 15% and 38% year over year


•	Increased year-end 2019 proved reserves to 96.6 million barrels of oil equivalent (“MMBoe”)

“We continue to extend our track record of strong operational results within our guidance ranges or better,” said Chief Executive Officer Chuck Duginski. “The accomplishments and hard work of the great team here at Chaparral are evident in our 2019 results. Chaparral has a strong, oil focused and geologically advantaged position in the oil window of the proven Mid-continent region. In 2019, we gr

The following information was filed by Chaparral Energy, Inc. (CHAP) on Thursday, March 12, 2020 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 10.1: Material Contract

Exhibit 10.2: Material Contract

Exhibit 10.3: Material Contract

Exhibit 10.4: Material Contract

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: 0001346980-20-000063
Submitted to the SEC: Mon May 11 2020 4:42:17 PM EST
Accepted by the SEC: Mon May 11 2020
Period: Tuesday, March 31, 2020
Industry: Crude Petroleum And Natural Gas

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Chaparral Energy, Inc. (CHAP) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

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