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Chaparral Energy, Inc. (CHAP) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Chaparral Energy, Inc.

CIK: 1346980 Ticker: CHAP


Exhibit 99.1

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Chaparral Energy Announces First Quarter 2020 Financial and Operational Results
Oklahoma City, May 11, 2020
- Chaparral Energy, Inc. (NYSE: CHAP), (the “Company” or “Chaparral”) announced today its first quarter 2020 financial and operational results. The Company will hold its quarterly earnings call Tuesday, May 12, at 9 a.m. Central.
Highlights
Achieved first quarter 2020 production of 30.7 thousand barrels of oil equivalent per day (MBoe/d), exceeding the high end of guidance
Reported net income of $4.9 million for the first quarter of 2020, or $0.11 per share, which included a $71.4 million non-cash ceiling test impairment partially offset by a non-cash mark to market gain on derivatives of $69.2 million; adjusted net income, as defined below, was $10.8 million, or $0.23 per diluted share
Maintained strong Adjusted EBITDA, as defined below, of $40.7 million despite an approximate 19% and 22% decrease in WTI oil prices and Henry Hub natural gas prices compared to the fourth quarter of 2019
Decisively responding to current environment by:
Stopping all drilling and completion activities, provided notice to rig providers in early March and released both rigs by April 8, 2020
Shutting in non-essential oil production to avoid exposure to abnormally low pricing for May crude sales
Continuing to reduce absolute lease operating expense (LOE) and general and administrative (G&A) costs
Engaged advisors to assist in evaluating all strategic alternatives

“The global COVID-19 pandemic and the separate actions taken earlier in the year by Saudi Arabia and Russia have created an unprecedented environment causing significant uncertainty across the oil sector,” said Chief Executive Officer Chuck Duginski. “During these turbulent conditions, we continue to execute operationally at a very high level and we have managed through the pricing and logistical challenges that we have faced in this current environment."




The following information was filed by Chaparral Energy, Inc. (CHAP) on Tuesday, May 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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Chaparral Energy, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
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)
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: 0001346980-20-000082
Submitted to the SEC: Mon Aug 17 2020 4:13:58 PM EST
Accepted by the SEC: Mon Aug 17 2020
Period: Tuesday, June 30, 2020
Industry: Crude Petroleum And Natural Gas

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