Chaparral Energy Earnings 2020-06-30

Balance Sheet	Income Statement	Cash Flow
Assets, Equity	Rev, G Profit, Net Income	Ops, Inv, Fin

chap-20200630

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2020


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number: 001-38602

Chaparral Energy, Inc.

(Exact name of registrant as specified in its charter)


Delaware						73-1590941
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

701 Cedar Lake Boulevard Oklahoma City, Oklahoma						73114
(Address of principal executive offices)						(Zip Code)

(405) 478-8770

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:


Title of class	Trading Symbol(s)	Name of each exchange on which registered
Class A common stock, par value, $0.01 per share	CHAP	The New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☐

Accelerated filer

☒

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.

Yes ☒ No ☐

Number of shares outstanding of each of the issuer’s classes of common stock as of August 17, 2020: 47,790,146 shares of Class A Common Stock, par value $0.01 per share.

CHAPARRAL ENERGY, INC.

Index to Form 10-Q


			Page

Part I. FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited)			8
Consolidated Balance Sheets			8
Consolidated Statements of Operations			9
Consolidated Statement of Stockholders’ Equity			10
Consolidated Statements of Cash Flows			11
Condensed Notes to Consolidated Financial Statements			12
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations			36
Overview			36
Results of Operations			41
Liquidity and Capital Resources			37
Non-GAAP Financial Measure and Reconciliation			50
Critical Accounting Policies			51
Recent Accounting Pronouncements			51
Item 3. Quantitative and Qualitative Disclosures about Market Risk			51
Item 4. Controls and Procedures			53
Part II. OTHER INFORMATION
Item 1. Legal Proceedings			53
Item 1A. Risk Factors			53
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds			59
Item 5. Other Information			59
Item 6. Exhibits			60
Signatures			63

CAUTIONARY NOTE

REGARDING FORWARD-LOOKING STATEMENTS

This report includes statements that constitute forward-looking statements within the meaning of the federal securities laws. These statements are subject to risks and uncertainties. These statements may relate to, but are not limited to, information or assumptions about us, our capital and other expenditures, dividends, financing plans, capital structure, cash flow, pending legal and regulatory proceedings and claims, including environmental matters, future economic performance, operating income, cost savings, and management’s plans, strategies, goals and objectives for future operations and growth. These forward-looking statements generally are accompanied by words such as “intend,” “anticipate,” “believe,” “estimate,” “expect,” “should,” “seek,” “project,” “plan” or similar expressions. Any statement that is not a historical fact is a forward-looking statement. It should be understood that these forward-looking statements are necessarily estimates reflecting the best judgment of senior management, not guarantees of future performance. They are subject to a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements in this report may include, for example, statements about:

•the Chapter 11 Cases;

•the effects of the Chapter 11 Cases on our liquidity or results of operations or business prospects;

•the expected terms of a proposed plan of reorganization;

•our ability to confirm and consummate a Chapter 11 plan of reorganization;

•our ability to continue to operate in the ordinary course while the Chapter 11 Cases are pending;

•the treatment of our creditors and other stakeholders (including, without limitation, holders of our common stock) under a plan of reorganization;

•the potential impact of any epidemics or pandemics, including COVID-19;

•fluctuations in demand or the prices received for oil and natural gas;

•the amount, nature and timing of capital expenditures;

•drilling, completion and performance of wells;

•inventory of drillable locations;

•competition;

•government regulations;

•timing and amount of future production of oil and natural gas;

•costs of exploiting and developing properties and conducting other operations, in the aggregate and on a per-unit equivalent basis;

•changes in proved reserves;

•operating costs and other expenses;

•our future financial condition, results of operations, revenue, cash flows and expenses;

•estimates of proved reserves;

•exploitation of property acquisitions;

•takeaway constraints and storage capacity for oil and natural gas; and

•marketing of oil and natural gas.

These forward-looking statements represent intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, uncertainties and other factors. Many of those factors are outside of our control and could cause actual results to differ materially from the results expressed or implied by those forward-looking statements. In addition to the risk factors described in Part II, Item 1A. Risk Factors, of this report and Part I, Item 1A. Risk Factors, in our Annual Report on Form 10-K for the year ended December 31, 2019, the risks and uncertainties include or relate to:

•risks and uncertainties regarding the Company’s ability to complete a reorganization process under Chapter 11 of the Bankruptcy Code, including consummation of the restructuring in accordance with the terms of our restructuring support agreement;

•the Company’s ability to obtain timely approval by the Bankruptcy Court regarding the motions filed in the Chapter 11 Cases;

•the time that the Company will operate under Chapter 11 protection and the continued availability of operating capital during the pendency of the Chapter 11 Cases;

•the effects of the Chapter 11 Cases on our liquidity or results of operations or business prospects;

•the effects of the Chapter 11 Cases on our business and the interests of various constituents, including our stockholders;

•employee attrition and the Company’s ability to retain senior management and other key personnel due to the distractions and uncertainties, including the Company’s ability to provide adequate compensation and benefits during the Chapter 11 Cases;

•the Company’s ability to maintain relationships with suppliers, customers, employees and other third parties and regulatory authorities because of the Chapter 11 filing;

•the effects of the Chapter 11 Cases on the market price of the Company’s common stock and on the Company’s ability to access the capital markets;

•risks associated with third party motions in the Chapter 11 Cases, which may interfere with the Company’s ability to consummate the restructuring or an alternative restructuring;

•increased administrative and legal costs related to the Chapter 11 process;

•potential delays in the Chapter 11 process due to the effects of COVID-19;

•other litigation and inherent risks involved in a bankruptcy process;

•future capital expenditures (or funding thereof) and working capital;

•worldwide supply of and demand for oil and natural gas, including to the extent affected by the COVID-19 pandemic and the recovery therefrom;

•volatility and declines in oil and natural gas prices, including to the extent affected by the COVID-19 pandemic and the recovery therefrom;

•geopolitical events affecting oil and natural gas prices;

•the impact of COVID-19 on the health of our key personnel;

•risks related to the geographic concentration of our assets;

•our ability to develop, explore for, acquire and replace oil and natural gas reserves and sustain production;

•drilling plans (including scheduled and budgeted wells);

•the extent to which we are able to continue to reduce lease operating expense and G&A costs;

•geologic and reservoir complexity and variability;

•uncertainties in estimating our oil and gas reserves and the present values of those reserves;

•the number, timing or results of any wells;

•changes in wells operated and in reserve estimates;

•activities on properties we do not operate;

•availability and cost of drilling and production equipment, facilities, field service providers, gathering, processing and transportation;

•takeaway constraints and storage capacity for oil and natural gas;

•competition in the oil and natural gas industry;

•outcome, effects or timing of legal proceedings (including environmental litigation);

•weather, including its impact on oil and natural gas demand and weather-related delays on operations;

•the impact of natural disasters on our present and future operations;

•the operating hazards attendant to the oil and natural gas business;

•effectiveness and extent of our risk management activities;

•effectiveness of orders from the Oklahoma Corporation Commission and other regulatory bodies in mitigating the risk of lease cancellation actions associated with the voluntary shut-in of production;

•current borrowings, capital resources and liquidity;

•covenant compliance under instruments governing any of our existing or future indebtedness, including our ability to comply with financial covenants under our Credit Agreement;

•the effects of government regulation and permitting and other legal requirements;

•the impact of legislative, tax and regulatory initiatives, including in response to the COVID-19 pandemic;

•volatility in the price of our common stock;

•integration of existing and new technologies into operations;

•future exploration;

•changes in strategy and business discipline; and

•the ability to successfully complete merger, acquisition or divestiture plans, regulatory or other limitations imposed as a result of a merger, acquisition or divestiture, and the success of the business following a merger, acquisition or divestiture.

Reserve engineering is a process of estimating underground accumulations of oil and natural gas that cannot be measured in an exact way. The accuracy of any reserve estimate depends on the quality of available data, the interpretation of such data and price and cost assumptions made by reserve engineers. In addition, the results of drilling, testing and production activities may justify revisions of estimates that were made previously. If significant, such revisions may change the schedule of any future production and development drilling. Accordingly, reserve estimates may differ significantly from the quantities of oil and natural gas that are ultimately recovered.

Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements contained herein. We undertake no obligation to

update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. All forward-looking statements included herein are expressly qualified in their entirety by the cautionary statements contained or referred to in this section.

GLOSSARY OF CERTAIN DEFINED TERMS

The terms defined in this section are used throughout this Form 10-Q:


Bankruptcy Code			Title 11 of the United States Code.

Bankruptcy Court			United States Bankruptcy Court for the District of Delaware.

Bbl			One stock tank barrel of 42 U.S. gallons liquid volume used herein in reference to crude oil, condensate, or natural gas liquids.

BBtu			One billion British thermal units.

Boe			One barrel of crude oil equivalent, determined using the ratio of six thousand cubic feet of natural gas to one barrel of oil.

Boe/d			Barrels of oil equivalent per day.

Btu			British thermal unit, which is the heat required to raise the temperature of one-pound of water from 58.5 to 59.5 degrees Fahrenheit.

Chapter 11 Cases			Voluntary petitions seeking relief under the Bankruptcy Code in the Bankruptcy Court for relief under Chapter 11 of the Bankruptcy Code filed on August 16, 2020, 2020, by Chaparral Energy, Inc. and its subsidiaries, including Chaparral Resources, L.L.C., Chaparral Real Estate, L.L.C., Chaparral CO₂, L.L.C., CEI Pipeline, L.L.C., Chaparral Energy, L.L.C., CEI Acquisition, L.L.C., Green Country Supply, Inc., Chaparral Biofuels, L.L.C., Chaparral Exploration, L.L.C., Roadrunner Drilling, L.L.C., Trabajo Energy, L.L.C., Charles Energy, L.L.C. and Chestnut Energy, L.L.C.

Completion			The process of treating a drilled well followed by the installation of permanent equipment for the production of oil or natural gas, or in the case of a dry well, the reporting to the appropriate authority that the well has been abandoned.

CO₂			Carbon dioxide.

COVID-19			An infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). It was first identified in late 2019 and has since spread globally, resulting in a sustained pandemic.

Credit Agreement			Tenth Restated Credit Agreement, as amended, by and among Chaparral Energy, Inc., Royal Bank of Canada as Administrative Agent and the Lenders thereto.

Dry well or dry hole			An exploratory, development or extension well that proves to be incapable of producing either oil or natural gas in sufficient quantities to justify completion as an oil or natural gas well.


Enhanced oil recovery (EOR)			The use of any improved recovery method, including injection of CO₂ or polymer, to remove additional oil after Secondary Recovery.

Field			An area consisting of a single reservoir or multiple reservoirs all grouped on, or related to, the same individual geological structural feature or stratigraphic condition. The field name refers to the surface area, although it may refer to both the surface and the underground productive formations.

Limited Forbearance Agreement			Forbearance Agreement dated as of July 15, 2020, by and among Chaparral Energy, Inc., the subsidiary guarantors party thereto, certain Lenders identified therein, and Royal Bank of Canada, as Administrative Agent and Issuing Bank.

MBbls			One thousand barrels of crude oil, condensate, or natural gas liquids.

MBoe			One thousand barrels of crude oil equivalent.

Mcf			One thousand cubic feet of natural gas.

MMBtu			One million British thermal units.

MMcf			One million cubic feet of natural gas.


Natural gas liquids (NGLs)			Those hydrocarbons in natural gas that are separated from the gas as liquids through the process of absorption, condensation, or other methods in gas processing or cycling plants. Natural gas liquids primarily include propane, butane, isobutane, pentane, hexane and natural gasoline.
NYSE			The New York Stock Exchange.

Plan of Reorganization			Plan of Reorganization contemplated by the RSA.

Play			A term describing an area of land following the identification by geologists and geophysicists of reservoirs with potential oil and natural gas reserves.

Prior Chapter 11 Cases			Voluntary petitions seeking relief under the Bankruptcy Code in the Bankruptcy Court for relief under Chapter 11 of the Bankruptcy Code filed on May 9, 2016, by Chaparral Energy, Inc. and its subsidiaries including Chaparral Energy, L.L.C., Chaparral Resources, L.L.C., Chaparral Real Estate, L.L.C., Chaparral CO₂ , L.L.C., CEI Pipeline, L.L.C., CEI Acquisition, L.L.C., Green Country Supply, Inc., Chaparral Biofuels, L.L.C., Chaparral Exploration, L.L.C., Roadrunner Drilling, L.L.C.

Prior Effective Date			March 21, 2017, the date of the Company’s emergence from the Prior Chapter 11 Cases.

Prior Reorganization Plan			First Amended Joint Plan of Reorganization under the Prior Chapter 11 Cases, dated as of January 25, 2017.

Proved developed reserves			Reserves that can be expected to be recovered (i) through existing wells with existing equipment and operating methods, or in which the cost of the required equipment is relatively minor compared to the cost of a new well and (ii) through installed extraction equipment and infrastructure operational at the time of the reserves estimate if the extraction is by means not involving a well.

Proved reserves			The quantities of oil and natural gas which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible—from a given date forward, from known reservoirs, and under existing economic conditions, operating methods, and government regulations—prior to the time at which contracts providing the right to operate expire, unless evidence indicates that renewal is reasonably certain, regardless of whether deterministic or probabilistic methods are used for estimation. The project to extract the hydrocarbons must have commenced or the operator must be reasonably certain that it will commence the project within a reasonable time. For additional information, see the SEC’s definition in Rule 1-10(a)(22) of Regulation S-X, a link for which is available at the SEC’s website.

Proved undeveloped reserves			Reserves that are expected to be recovered from new wells on undrilled acreage or from existing wells where a relatively major expenditure is required for recompletion.

PV-10 value			When used with respect to oil and natural gas reserves, PV-10 value means the estimated future gross revenue to be generated from the production of proved reserves, net of estimated production and future development costs, excluding escalations of prices and costs based upon future conditions, before income taxes, and without giving effect to non-property-related expenses, discounted to a present value using an annual discount rate of 10%.

RSA			Restructuring Support Agreement, dated as of August 15, 2020, by and among Chaparral Energy, Inc., certain of its subsidiaries and the Consenting Creditors (as defined therein).

SEC			The Securities and Exchange Commission.

Senior Notes			Our 8.75% senior notes due 2023.

Unit			The joining of all or substantially all interests in a reservoir or field, rather than a single tract, to provide for development and operation without regard to separate property interests. Also, the area covered by a unitization agreement.

Chaparral Energy, Inc. and Subsidiaries

Consolidated Balance Sheets

(Unaudited)

PART I — FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS


(dollars in thousands, except share data)	June 30, 2020		December 31, 2019
Assets
Current assets:
Cash and cash equivalents	$	56,137	$	22,595
Accounts receivable:
Accounts receivable, gross	43,197		50,744
Allowance for credit losses	(4,215)		(1,097)
Accounts receivable, net	38,982		49,647
Inventories, net	2,456		3,730
Prepaid expenses	4,034		3,471
Derivative instruments	15,197		947
Total current assets	116,806		80,390
Property and equipment, net	7,948		9,217
Right of use assets from operating leases	1,744		2,444
Oil and natural gas properties, using the full cost method:
Proved	1,569,627		1,276,036
Unevaluated (excluded from the amortization base)	142,295		371,229
Accumulated depreciation, depletion, amortization and impairment	(1,246,703)		(754,379)
Total oil and natural gas properties	465,219		892,886
Held for sale assets	111		2,860
Derivative instruments	1,990		—
Other assets	1,349		635
Total assets	$	595,167	$	988,432
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable and accrued liabilities	$	39,272	$	64,558
Accrued payroll and benefits payable	5,970		10,963
Accrued interest payable	12,309		12,227
Revenue distribution payable	9,322		22,370
Long-term debt and financing leases, classified as current	521,292		594
Derivative instruments	—		11,957
Total current liabilities	588,165		122,669
Long-term debt and financing leases, less current maturities	996		421,392
Derivative instruments	—		5,075
Noncurrent operating lease obligations	234		917
Deferred compensation	419		165
Asset retirement obligations	21,412		21,073

Commitments and contingencies (Note 10)
Stockholders’ equity:
Preferred stock, 5,000,000 shares authorized, none issued and outstanding	—		—
Common stock, $0.01 par value, 192,130,071 shares authorized; 48,297,606 issued and 47,790,146 outstanding at June 30, 2020 and 48,413,185 issued and 47,942,230 outstanding at December 31, 2019	483		485
Additional paid in capital	977,957		977,174
Treasury stock, at cost, 507,460 and 470,955 shares as of June 30, 2020, and December 31, 2019	(6,128)		(6,110)
Accumulated deficit	(988,371)		(554,408)
Total stockholders’ equity	(16,059)		417,141
Total liabilities and stockholders’ equity	$	595,167	$	988,432

The accompanying notes are an integral part of these consolidated financial statements.

Chaparral Energy, Inc. and Subsidiaries

Consolidated Statements of Operations

(Unaudited)


	Three months ended						Six months ended
(in thousands, except share and per share data)	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
Revenues:
Net commodity sales	$	15,880	$	66,707	$	64,731	$	115,326
Sublease revenue	—		1,198		—		2,396
Total revenues	15,880		67,905		64,731		117,722
Costs and expenses:
Lease operating	5,971		13,371		16,059		25,665
Production taxes	823		3,802		3,573		6,682
Depreciation, depletion and amortization	14,821		30,282		37,833		53,997
Impairment of oil and gas assets	384,639		63,593		456,010		113,315
Impairment of other assets	310		6,407		463		6,407
General and administrative	9,488		7,315		17,556		15,628
Liability management	8,047		—		8,047		—
Litigation loss	4,359		—		4,359		—
Subleases	—		403		—		806
Total costs and expenses	428,458		125,173		543,900		222,500
Operating loss	(412,578)		(57,268)		(479,169)		(104,778)
Non-operating income (expense):
Interest expense	(8,047)		(5,571)		(14,683)		(10,135)
Write-off of Senior Note issuance costs	(4,420)		—		(4,420)		—
Derivative (losses) gains	(13,019)		17,734		65,361		(33,282)
(Loss) gain on sale of assets	(261)		491		(159)		490
Other income (expense), net	35		(302)		281		(288)
Net non-operating income (expense)	(25,712)		12,352		46,380		(43,215)
Reorganization items, net	(436)		(313)		(1,020)		(776)
Loss before income taxes	(438,726)		(45,229)		(433,809)		(148,769)
Income tax expense	—		—		—		—
Net loss	$	(438,726)	$	(45,229)	$	(433,809)	$	(148,769)
Loss per share:
Basic	$	(9.55)	$	(0.99)	$	(9.45)	$	(3.27)
Diluted	$	(9.55)	$	(0.99)	$	(9.45)	$	(3.27)
Weighted average shares used to compute earnings per share:
Basic	45,949,797		45,641,797		45,890,041		45,549,518
Diluted	45,949,797		45,641,797		45,890,041		45,549,518

The accompanying notes are an integral part of these consolidated financial statements.

Chaparral Energy, Inc. and Subsidiaries

Consolidated Statement of Stockholders’ Equity

(Unaudited)


	Common stock
(dollars in thousands)	Shares outstanding	Amount		Additional paid in capital		Treasury stock		Accumulated deficit		Total
As of December 31, 2018	46,390,513	$	467	$	974,616	$	(4,936)	$	(85,460)	$	884,687
Stock-based compensation	94,078	1		1,423		—		—		1,424
Restricted stock forfeited	(97,113)	(1)		—		—		—		(1)
Repurchase of common stock	(80,422)	—		—		(463)		—		(463)
Net loss	—	—		—		—		(103,540)		(103,540)
Balance at March 31, 2019	46,307,056	$	467	$	976,039	$	(5,399)	$	(189,000)	$	782,107
Stock-based compensation	160,400	1		1,249		—		—		1,250

Repurchase of common stock	(126,231)	—		—		(708)		—		(708)
Issuance of common stock - litigation settlement	76,217	1		323		—		—		324
Net loss	—	—		—		—		(45,229)		(45,229)
Balance at June 30, 2019	46,417,442	$	469	$	977,611	$	(6,107)	$	(234,229)	$	737,744


	Common stock
(dollars in thousands)	Shares outstanding	Amount		Additional paid in capital		Treasury stock		Accumulated deficit		Total
As of December 31, 2019	47,942,230	$	485	$	977,174	$	(6,110)	$	(554,408)	$	417,141
Cumulative effect of accounting standard adoption	—	—		—		—		(154)		(154)
Stock-based compensation	—	—		705		—		—		705
Restricted stock forfeited or canceled	(22,494)	(1)		—		—		—		(1)
Repurchase of common stock	(3,856)	—		—		(6)		—		(6)
Net income	—	—		—		—		4,917		4,917
Balance at March 31, 2020	47,915,880	$	484	$	977,879	$	(6,116)	$	(549,645)	$	422,602
Stock-based compensation	—	—		78		—		—		78
Restricted stock forfeited	(93,085)	(1)		—		—		—		(1)
Repurchase of common stock	(32,649)	—		—		(12)		—		(12)
Net loss	—	—		—		—		(438,726)		(438,726)
Balance at June 30, 2020	47,790,146	$	483	$	977,957	$	(6,128)	$	(988,371)	$	(16,059)

The accompanying notes are an integral part of these consolidated financial statements.

Chaparral Energy, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

(Unaudited)


	Six months ended
(in thousands)	June 30, 2020		June 30, 2019
Cash flows from operating activities
Net loss	$	(433,809)	$	(148,769)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities
Depreciation, depletion and amortization	37,833		53,997
Derivative (gains) losses	(65,361)		33,282
Impairment of oil and gas assets	456,010		113,315
Impairment of other assets	463		6,407
Write-off of Senior Note issuance costs	4,420		—
Loss (gain) on sale of assets	159		(490)
Other	4,612		1,621
Change in assets and liabilities
Accounts receivable	6,206		13,584
Inventories	747		40
Prepaid expenses and other assets	(1,277)		1,055
Accounts payable and accrued liabilities	(7,217)		(18,389)
Revenue distribution payable	(13,049)		600
Deferred compensation	844		1,852
Net cash (used in) provided by operating activities	(9,419)		58,105
Cash flows from investing activities
Expenditures for property, plant, and equipment and oil and natural gas properties	(86,862)		(146,434)
Proceeds from asset dispositions	3,370		857
Proceeds from derivative instruments, net	32,089		653
Net cash used in investing activities	(51,403)		(144,924)
Cash flows from financing activities
Proceeds from long-term debt	120,000		85,000
Repayment of long-term debt	(25,313)		(343)
Principal payments under financing lease obligations	(212)		(1,445)
Payment of debt issuance costs and other financing fees	(93)		(20)
Treasury stock purchased	(18)		(1,171)

Price	1.29	EPS	-4
Shares	46	P/E	-0
MCap	60	P/FCF	1
Net Debt	380	EBIT	-175
TEV	439	TEV/EBIT	-3
TTM 2019-09-30, in MM, except price, ratios

10-Q	2020-06-30	Filed 2020-08-17
10-Q	2020-03-31	Filed 2020-05-11
10-K	2019-12-31	Filed 2020-03-12
10-Q	2019-09-30	Filed 2019-11-12
10-Q	2019-06-30	Filed 2019-08-08
10-Q	2019-03-31	Filed 2019-05-09
10-K	2018-12-31	Filed 2019-03-14
10-Q	2018-09-30	Filed 2018-11-13
10-Q	2018-06-30	Filed 2018-08-14
10-Q	2018-03-31	Filed 2018-05-10
10-K	2017-12-31	Filed 2018-03-29
10-Q	2017-09-30	Filed 2017-11-14
10-Q	2017-06-30	Filed 2017-08-14
10-Q	2017-03-31	Filed 2017-05-15
10-K	2016-12-31	Filed 2017-03-31
10-Q	2016-09-30	Filed 2016-11-07
10-Q	2016-06-30	Filed 2016-08-12
10-Q	2016-03-31	Filed 2016-05-16
10-K	2015-12-31	Filed 2016-03-30
10-Q	2015-09-30	Filed 2015-11-16
10-Q	2015-06-30	Filed 2015-08-12
10-Q	2015-03-31	Filed 2015-05-12
10-K	2014-12-31	Filed 2015-03-31
10-Q	2014-09-30	Filed 2014-11-12
10-Q	2014-06-30	Filed 2014-08-14
10-Q	2014-03-31	Filed 2014-05-09
10-K	2013-12-31	Filed 2014-03-31
10-Q	2013-09-30	Filed 2013-11-14
10-Q	2013-06-30	Filed 2013-08-14
10-Q	2013-03-31	Filed 2013-05-10
10-K	2012-12-31	Filed 2013-04-01
10-Q	2012-09-30	Filed 2012-11-13
10-Q	2012-06-30	Filed 2012-08-14
10-Q	2012-03-31	Filed 2012-05-11
10-K	2011-12-31	Filed 2012-03-29
10-Q	2011-09-30	Filed 2011-11-14
10-Q	2011-06-30	Filed 2011-08-12
10-Q	2011-03-31	Filed 2011-05-13
10-K	2010-12-31	Filed 2011-03-29
10-Q	2010-09-30	Filed 2010-11-12
10-Q	2010-06-30	Filed 2010-08-11
10-Q	2010-03-31	Filed 2010-05-13
10-K	2009-12-31	Filed 2010-04-14

8-K	2020-08-17
8-K	2020-08-13	Enter Agreement, Leave Agreement, Bankruptcy, Off-BS Arrangement, Officers, Regulation FD, Exhibits
8-K	2020-08-03	Off-BS Arrangement
8-K	2020-07-29	Enter Agreement, Off-BS Arrangement, Exhibits
8-K	2020-07-22	Enter Agreement, Off-BS Arrangement, Exhibits
8-K	2020-07-15	Enter Agreement, Off-BS Arrangement, Off-BS Arrangement, Regulation FD, Exhibits
8-K	2020-06-26	Shareholder Vote
8-K	2020-05-11
8-K	2020-04-17
8-K	2020-04-02
8-K	2020-03-11
8-K	2020-02-28
8-K	2020-01-28
8-K	2019-12-20
8-K	2019-12-20
8-K	2019-11-12
8-K	2019-11-11
8-K	2019-10-02
8-K	2019-08-07
8-K	2019-07-25
8-K	2019-07-10
8-K	2019-06-28
8-K	2019-05-28
8-K	2019-05-08
8-K	2019-04-10
8-K	2019-03-14
8-K	2019-03-08
8-K	2019-02-26
8-K	2019-02-15
8-K	2019-01-08
8-K	2018-12-19
8-K	2018-12-10
8-K	2018-11-13
8-K	2018-08-14
8-K	2018-07-25
8-K	2018-07-19
8-K	2018-06-26
8-K	2018-06-18
8-K	2018-06-06
8-K	2018-05-16
8-K	2018-05-10
8-K	2018-04-10
8-K	2018-03-29
8-K	2018-03-06
8-K	2018-02-22
8-K	2018-02-08

EX-31.1	a2020q2ex311.htm
EX-31.2	a2020q2ex312.htm
EX-32.1	a2020q2ex321.htm
EX-32.2	a2020q2ex322.htm

CHAP 10Q Quarterly Report

Chaparral Energy Earnings 2020-06-30