23 July 2018director interest notice● Neutral
Strategic Value Partners, LLC became a Chaparral Energy, Inc. director and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
10 May 2018quarterly activities report▼ Bad
Chaparral Energy, Inc. reported quarterly revenue of $59.1 million and a net loss of $11.4 million for the period ended 2018-03-31.
10 May 2018quarterly activities report▼ Bad
Chaparral Energy, Inc. reported quarterly revenue of $59.1 million and a net loss of $11.4 million for the period ended 2018-03-31.
4 May 2018securities registration● Neutral
Chaparral Energy, Inc. filed the final prospectus for a registered offering.
20 Apr 2018securities registration● Neutral
Chaparral Energy, Inc. amended an already-effective registration statement.
9 Mar 2018securities registration● Neutral
Chaparral Energy, Inc. filed the final prospectus for a registered offering.
22 Feb 2018quarterly activities report▼ Bad
Chaparral Energy, Inc. reported quarterly revenue of $69.3 million and a net loss of $101.5 million for the period ended 2017-12-31.
14 Feb 2018substantial holder notice● Neutral
Lord, Abbett & Co. LLC disclosed a new substantial Chaparral Energy, Inc. shareholding (6.53% of votes).
27 Dec 2017securities registration● Neutral
Chaparral Energy, Inc. filed the final prospectus for a registered offering.
27 Dec 2017debt financing▲ GoodMajor
On Dec 21, 2017 Chaparral replaced its credit agreement with a Tenth Restated Credit Agreement with JPMorgan: a $400 million reserve-based revolver due Dec 21, 2022, with an initial borrowing base of $285 million (up from $225 million). It must keep Total Debt to EBITDAX at or below 4.00x. On Dec 22 it also agreed to buy Kingfisher County, Oklahoma properties from two private sellers for about $34.7 million and $23.8 million in cash, to be funded from the credit facility, with closing expected by Jan 5, 2018.
21 Nov 2017asset acquisition disposition● NeutralMajor
On Nov 17, 2017 Chaparral closed the sale of its EOR assets (including North Burbank) to Perdure Petroleum for $170 million, subject to adjustments, plus contingent payments; preliminary estimates put proceeds received at $163.4 million. The assets produced about 5,700 Boe/day and made up 51% of proved reserves at Sept 30, 2017. Proceeds fully repaid the $149.2 million term loan and will repay part of the credit facility, and the $225 million borrowing base was confirmed. This completes the sale announced Oct 13 and, per the company, the move to a STACK-focused business.
21 Nov 2017securities registration● Neutral
Chaparral Energy, Inc. filed the final prospectus for a registered offering.
14 Nov 2017quarterly activities report▼ Bad
Chaparral Energy, Inc. reported quarterly revenue of $75.9 million and a net loss of $19.1 million for the period ended 2017-09-30.
14 Nov 2017quarterly activities report▼ Bad
Chaparral Energy, Inc. reported quarterly revenue of $75.9 million and a net loss of $19.1 million for the period ended 2017-09-30.
14 Nov 2017securities registration● Neutral
Chaparral Energy, Inc. filed the final prospectus for a registered offering.
13 Oct 2017material agreement● NeutralMajor
On Oct 13, 2017 Chaparral's subsidiaries agreed to sell their North Burbank and Texas Panhandle enhanced oil recovery assets to Perdure Petroleum for about $170 million cash plus contingent payments (through December 2020, per the press release), with closing expected in November 2017. An $11.9 million deposit has been received. The company says this moves it toward being a pure-play STACK operator and that proceeds will reduce debt; those are management's statements.
13 Oct 2017securities registration● Neutral
Chaparral Energy, Inc. filed the final prospectus for a registered offering.
15 Aug 2017securities registration● Neutral
Chaparral Energy, Inc. filed the final prospectus for a registered offering.
14 Aug 2017quarterly activities report● Neutral
Chaparral Energy, Inc. reported quarterly revenue of $74.0 million and net income of $21.4 million for the period ended 2017-06-30.
14 Aug 2017securities registration● Neutral
Chaparral Energy, Inc. filed the final prospectus for a registered offering.
14 Aug 2017quarterly activities report● Neutral
Chaparral Energy, Inc. reported quarterly revenue of $74.0 million and net income of $21.4 million for the period ended 2017-06-30.
23 June 2017securities registration● Neutral
Chaparral Energy, Inc. filed the final prospectus for a registered offering.
7 June 2017securities registration● Neutral
Chaparral Energy, Inc. registered a securities offering with the SEC.
15 May 2017quarterly activities report● Neutral
Chaparral Energy, Inc. reported quarterly revenue of $66.5 million and net income of $1042.0 million for the period ended 2017-03-21.
15 May 2017quarterly activities report● Neutral
Chaparral Energy, Inc. reported quarterly revenue of $66.5 million and net income of $1042.0 million for the period ended 2017-03-21.
6 Apr 2017quarterly activities report● Neutral
Chaparral Energy, Inc. reported quarterly revenue of $66.5 million and net income of $1042.0 million for the period ended 2017-03-21.
14 Mar 2017bankruptcy or receivership▼ BadMajor
On March 10, 2017 the bankruptcy court confirmed Chaparral's reorganization plan. All existing common stock (1,392,706 shares held by 19 record holders as of Mar 8, 2017), plus options and warrants, will be cancelled on the effective date, and 100% of the new equity (subject to dilution) goes to noteholders, general unsecured and royalty litigation claimants. The bank debt will be cut by a cash payment and the remainder restructured into a four-year facility of a $225 million first-out revolver and $150 million second-out term loan. Noteholders will get about 9% of new equity for $50 million through a rights offering, backstoppers about 1%, and management up to 7% via an incentive plan. A new seven-person board takes office on the effective date, targeted before end of March 2017 but not assured. This resolves the open question of the Chapter 11 outcome and of old shareholders' treatment: they are wiped out.
20 Dec 2016bankruptcy or receivership● NeutralMajor
On Dec 14, 2016 the bankruptcy court approved the plan support agreement with certain noteholders and revolver lenders, and on Dec 19 Chaparral filed its proposed reorganization plan and disclosure statement, consistent with that agreement. A disclosure statement hearing is set for Jan 24, 2017, and the company expects to ask for a confirmation hearing in March 2017. This moves the Chapter 11 case from negotiation to a formal plan; the filing does not describe what existing shareholders receive.
7 Nov 2016quarterly activities report▼ Bad
Chaparral Energy, Inc. reported a quarterly net loss of $5.5 million for the period ended 2016-09-30.
12 Aug 2016quarterly activities report▼ Bad
Chaparral Energy, Inc. reported a quarterly net loss of $256.7 million for the period ended 2016-06-30.