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Chaparral Energy, Inc. (CHAP) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

Chaparral Energy, Inc.

CIK: 1346980 Ticker: CHAP

Exhibit 99.1

 

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Chaparral Energy Announces Second Quarter 2018 Financial and Operational Results

Oklahoma City, August 14, 2018 Chaparral Energy, Inc. (NYSE: CHAP) today announced its second quarter 2018 financial and operational results with the filing of its form 10-Q. The company will hold its quarterly financial and operating results conference call this morning, August 14, at 9 a.m. Central.

Second Quarter Highlights and Recent Key Items

 

   

Grew STACK production 44% on a year-over-year basis to 13,198 barrels of oil equivalent per day (Boe/d)

 

   

Reported a net loss of $22 million driven by a $27 million non-cash loss associated with commodity derivatives

 

   

Generated adjusted EBITDA, as defined below, of $26.9 million

 

   

Brought online 17 new gross operated wells, 11 of which were part of its joint venture drilling program

 

   

De-risked approximately 50% of its Garfield County position and 80% of its Canadian County Meramec Merge position

 

   

Increased 2018 STACK full year production guidance to 13.0 - 14.0 MBoe/d, due to strong operational results and higher working interests

 

   

Increased 2018 full year total production guidance to 19.0 - 20.0 MBoe/d

 

   

Raised 2018 CAPEX guidance to $300 - $325 million primarily due to higher working interests, cost inflation associated with its joint venture program, acreage acquisitions and the addition of a fourth operated rig in late 2018

 

   

Decreased 2018 cash general and administrative (G&A) expense per Boe guidance to $3.50 - $4.00

 

   

Issued $300 million of unsecured senior notes due in 2023

 

   

Uplisted to the New York Stock Exchange (NYSE), under the new symbol “CHAP”


The following information was filed by Chaparral Energy, Inc. (CHAP) on Tuesday, August 14, 2018 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
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Asset Retirement Obligations
Asset Retirement Obligations (Details)
Asset Retirement Obligations (Tables)
Asset Retirement Obligations - Additional Information (Details)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Details)
Debt And Capital Leases
Debt And Capital Leases (8.75% Senior Notes) (Details)
Debt And Capital Leases (Capital Leases) (Details)
Debt And Capital Leases (Components Of Debt) (Details)
Debt And Capital Leases (Components Of Debt) (Parenthetical) (Details)
Debt And Capital Leases (New Credit Facility) (Details)
Debt And Capital Leases (Tables)
Deferred Compensation
Deferred Compensation (2017 Management Incentive Plan) (Details)
Deferred Compensation (Cash Incentive Plan) (Details)
Deferred Compensation (Stock-Based Compensation Cost) (Details)
Deferred Compensation (Stock-Based Compensation Cost) (Parenthetical) (Details)
Deferred Compensation (Tables)
Derivative Instruments
Derivative Instruments (Derivative (Losses) Gains In The Consolidated Statements Of Operations) (Details)
Derivative Instruments (Derivative Instruments Recorded On The Balance Sheet At Fair Value - Parenthetical) (Details)
Derivative Instruments (Derivative Instruments Recorded On The Balance Sheet At Fair Value) (Details)
Derivative Instruments (Tables)
Derivative Instruments - Additional Information (Details)
Derivative Instruments - Summary Of Derivatives Outstanding (Details)
Divestitures
Divestitures - Additional Information (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Details)
Earnings Per Share - Schedule Of Basic And Diluted Earnings Per Share (Details)
Earnings Per Share - Schedule Of Basic And Diluted Earnings Per Share (Parenthetical) (Details)
Fair Value Measurements
Fair Value Measurements (Counterparty Credit Risk) (Details)
Fair Value Measurements (Derivatives Offset In The Consolidated Balance Sheets) (Details)
Fair Value Measurements (Fair Value Of Other Financial Instruments) (Details)
Fair Value Measurements (Level 3 Rollforward) (Details)
Fair Value Measurements (Nonrecurring Fair Value Measurements) (Details)
Fair Value Measurements (Recurring Fair Value Measurements) (Details)
Fair Value Measurements (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 (Cost Reduction Initiatives) (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 Venture) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies (Other) (Details)
Nature Of Operations And Summary Of Significant Accounting Policies (Policies)
Nature Of Operations And Summary Of Significant Accounting Policies (Reorganization, Fresh Start Accounting And Comparability Of Financial Statements To Prior Periods) (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)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Details)
Revenue Recognition - Revenue Disaggregated And Reconciles Disaggregated Revenue To Revenue Reported (Details)
Revenue Recognition - Summary Of Impact Of Adoption Of Accounting Standards (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: 0001564590-18-021523
Submitted to the SEC: Mon Aug 13 2018 6:40:27 PM EST
Accepted by the SEC: Tue Aug 14 2018
Period: Saturday, June 30, 2018
Industry: Crude Petroleum And Natural Gas

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