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Company Profile

Chaparral Energy at a Glance
	2006	2007	2008
Production
Oil (MBbls)	1,906	3,356	3,773
Natural gas (MMcf)	20,949	20,504	19,795
Combined (MMcfe)	32,385	40,640	42,433
Proved Reserves
Oil (MBbls)	88,378	99,104	51,283
Natural gas (MMcf)	375,311	392,269	372,366
Combined (MMcfe)	905,579	986,893	680,064
Proved developed reserves percentage	69%	65%	74%
SEC PV-10 value (in thousands)	$1,494,063	$2,671,982	$932,692
Financials ($ in thousands)
Revenues	$245,014	$358,429	$459,616
Cash flow from operations	89,154	113,443	146,914
Total assets	$1,331,435	$1,530,898	$1,712,836

Since our inception in 1988, we have increased reserves and production primarily by acquiring and enhancing properties in our core areas of the Mid-Continent and the Permian Basin. Beginning in 2000, we expanded our geographic focus to include East Texas, North Texas, the Gulf Coast and the Rocky Mountains.

We have grown primarily through a disciplined strategy of acquisitions of proved oil and natural gas reserves, followed by exploitation activities and the acquisition of additional interests in or near these acquired properties. Over the last few years Chaparral has transitioned into a more active drilling program, and in 2004 began acquiring license rights to existing 3D seismic to evaluate additional drilling opportunities.

	2006	2007	2008
Cost incurred ($ in thousands)
Property acquisition costs	$489,135	$49,756	$45,878
Development costs	170,987	165,177	251,690
Exploration costs	7,015	15,287	5,108
Total	$667,137	$230,220	$302,676
Drilling wells (net)
Development	56.3	52.9	76.9
Exploratory	1.1	5.9	2.2
Total	57.4	58.8	79.1
Percent productive	99%	98%	97%

We expect our future growth to continue through a combination of acquisitions and exploitation projects, complemented by a modest amount of exploration activities.