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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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CHAP Quarterly Reports

Chaparral Energy, Inc.

CIK: 1346980 Ticker: CHAP


Exhibit 99.1

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Chaparral Energy Announces Fourth Quarter and Full Year 2019 Financial and Operational Results
Oklahoma City, March 11, 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

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 Agreement) (Details)
Debt (Senior Notes) (Details)
Debt (Tables)
Deferred Compensation
Deferred Compensation (Cash Awards) (Details)
Deferred Compensation (Equity Awards) (Details)
Deferred Compensation (Restricted Stock Awards) (Details)
Deferred Compensation (Restricted Stock Units) (Details)
Deferred Compensation (Stock-Based Compensation Cost) (Details)
Deferred Compensation (Tables)
Derivative Instruments
Derivative Instruments (Balance Sheet At Fair Value) (Details)
Derivative Instruments (Derivative Gains (Losses) 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 (Lease Assets And Liabilities) (Details)
Leases (Short Term Leases) (Details)
Leases (Tables)
Nature Of Operations And Summary Of Significant Accounting Policies And Going Concern
Nature Of Operations And Summary Of Significant Accounting Policies And Going Concern (Assets Held For Sale) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies And Going Concern (Cash And Cash Equivalents And Accounts Receivable) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies And Going Concern (Credit Loss) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies And Going Concern (Income Taxes) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies And Going Concern (Inventories) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies And Going Concern (Policies)
Nature Of Operations And Summary Of Significant Accounting Policies And Going Concern (Property And Equipment, Net) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies And Going Concern (Revenue Recognition) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies And Going Concern (Tables)
Nature Of Operations And Summary Of Significant Accounting Policies And Going Concern (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: 0001346980-20-000063
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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