About Us

Chaparral Energy

At Chaparral we are never satisfied with the status quo. Like our namesake the fleet-footed roadrunner, our combination of speed, agility and adaptability means we are never happy standing still. Our story is one that embodies innovation, resourcefulness, creativity, financial responsibility and loyalty to the communities in which we operate.

Our operations stretch across Oklahoma fast-growing, highly economical STACK Play located primarily across Blaine, Canadian, Garfield, Kingfisher and Major counties. Fueled by our highly talented employees, we have grown from our humble beginnings to become a premier STACK operator. While energy companies are nothing new in Oklahoma, Chaparral continues to set ourselves apart through our entrepreneurial spirit and dedication to continuous improvement.

Our History

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Enjoy a quick walk through our company’s rich history.

Leadership

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Get to know the men and women at the helm of our organization.

Our Values

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See the foundation that drives Chaparral’s success.

Leadership

Leadership Philosophy

Our guiding philosophy is essential and runs deep — do right by our employees, shareholders, owners and local communities, and in turn, their support will fuel our mutual success. This approach began with our founding and has always been the foundation of our company’s culture, values and strategies. Today our leadership team’s extensive knowledge and experience combine to guide Chaparral’s long-term success.

K. Earl Reynolds

Chief Executive Officer

K. Earl Reynolds joined Chaparral in 2011 as an executive vice president and chief operating officer before being named as the company’s president in 2014 and its chief executive officer in 2017.

From 2000 to 2010, Mr. Reynolds led the International Business Unit and was actively involved in strategic planning for Devon Energy, most recently serving as senior vice president of strategic development, where he was responsible for strategic planning, budgeting, coordination of acquisitions and divestitures, and oversight of the company’s assessment of oil and gas reserves.

Prior to Devon, Mr. Reynolds’ career included several key leadership roles in domestic and international operations with companies such as Burlington Resources and Mobil Oil.

Mr. Reynolds has served on the board of directors for several nonprofit organizations in Houston and Oklahoma City. He currently sits on the board of directors for the Oklahoma City YMCA and the Oklahoma Independent Petroleum Association, where he serves as the Chairman of its Legislative Committee. Mr. Reynolds holds a Master of Science degree in petroleum engineering from the University of Houston and a Bachelor of Science degree in petroleum engineering from Mississippi State University. In 2013 he was named as a Distinguished Fellow of the Mississippi State University Bagley College of Engineering.

Scott Pittman

Chief Financial Officer

Scott Pittman joined Chaparral in 2019 as chief financial officer. Before joining the company, Mr. Pittman served as the chief financial officer of Ursa Resources Group and Aethon Energy Management.

Prior to that time, Mr. Pittman served as vice president of finance for Cobalt International Energy. From 2005 to 2014, he worked at J.P. Morgan Securities Inc. covering exploration and production, with a focus on mergers and acquisitions, capital raising and commercial lending. Before joining J.P. Morgan, Mr. Pittman served as a captain in the United States Marine Corps, where he served two tours of duty.

Mr. Pittman holds a Bachelor’s degree in business administration from the University of Oklahoma and a Master’s degree in business administration from the University of Texas.

 

James M. Miller

Sr. Vice President – Operations

James M. Miller joined Chaparral in 1996 as its operations engineer. Since joining the company, Mr. Miller has been promoted to positions of increasing responsibility and currently oversees the company’s production and completion operations as senior vice president of operations. During this time, he has gained particular expertise in the area of operating secondary and tertiary recovery units.

Prior to joining Chaparral, Mr. Miller worked for KEPCO Operating Inc. as a petroleum engineer. From 1987 to 1995, he was employed by Robert A. Mason Production Co. as a petroleum engineer and later as vice president of production.

He is a member of the Society of Petroleum Engineers and the American Petroleum Institute. Mr. Miller attended the University of Oklahoma and received a Bachelor of Science degree in petroleum engineering.

Justin Byrne

Vice President, General Counsel and Secretary

Justin Byrne joined Chaparral in 2019 as vice president, general counsel and secretary. Prior to joining the company, Mr. Byrne worked in the private law practice of Hall, Estill, Hardwick, Gable, Golden and Nelson, P.C. 

From 2008 to 2016, Mr. Byrne worked at SandRidge Energy, where he served as associate general counsel and assistant corporate secretary. Before that time, he was counsel at Devon Energy and Kerr-McGee Corporation after beginning his career with the firm of Hughes & Luce, L.L.P. 

Mr. Byrne holds a Doctor of Jurisprudence from the University of Texas School of Law and a Bachelor of Arts degree in history from the University of Tulsa. He is a member of both the Oklahoma and Texas State Bars and has served on a number of charitable boards.

Clint Calhoun

Vice President - Resource Development

Clint Calhoun joined Chaparral in 2019 as vice president of resource development. Before joining the company, Mr. Calhoun co-founded the Merge- and SCOOP-focused Travis Peak Resources in 2013, where he served as Vice President of Engineering and was responsible for providing assessment and development strategy, budgeting and management of day-to-day operations for its Appalachia and Mid-Continent assets. Prior to that time, Mr. Calhoun worked for Newfield Exploration Company in a number of positions of increasing importance, including as a production and reservoir engineer, as well as an asset lead and asset manager of its active Mid-Continent resource plays.

Mr. Calhoun holds a Bachelor of Science degree in petroleum engineering from the University of Texas at Austin.

 

Stephanie Carnes

Vice President, Corporate Controller

Stephanie Carnes joined Chaparral in 2012 and has held various leadership roles, including internal and external reporting, corporate, operations and tax accounting, as well as assistant controller and financial reporting director before being named as a vice president and corporate controller.

Prior to joining Chaparral, Ms. Carnes held various financial and regulatory reporting, international finance and operations positions with increasing responsibility working for large organizations, such as SERVA Group, L Brands, Ernst & Young and PricewaterhouseCoopers. Ms. Carnes has more than 17 years of experience in areas including financial reporting, business planning and development, organizational design and restructuring, team development and leadership, and strategic planning.

Ms. Carnes holds Bachelor and Master of Accounting degrees from Oklahoma State University. 

Mark Ver Hoeve

Vice President - Geoscience

Mark Ver Hoeve joined Chaparral in 2017 as vice president of geoscience, overseeing the company’s geoscience team.

Prior to joining Chaparral, Mr. Ver Hoeve served as vice president of exploration and development for Discovery Natural Resources, where he was responsible for leading the development of the company’s Midland Basin properties. From 2006 to 2016 he was a manager of new venture exploration at Cimarex. Before Cimarex, Mr. Ver Hoeve’s career included several key geological leadership roles at EOG Resources, Vastar Resources and Atlantic Richfield Company (ARCO).

Mr. Ver Hoeve has served on several nonprofit and industry organization boards and is currently the president of the University of Texas-Austin Jackson School of Geoscience Friends and Alumni Network Board. He has served on several nonprofit and industry organization boards and is an active University of Texas-Austin alum and past-president of the University of Texas-Austin Jackson School of Geoscience Friends and Alumni Network Board.

Josh Walker

Vice President - Completions & Operations

Josh Walker joined Chaparral in 2018 as vice president of completions and operations.  

Before joining Chaparral, Mr. Walker served as the innovation manager at Chesapeake Energy, where he assembled and led a team focused on operations research and development, new and emerging technologies and data analytics. While at Chesapeake, Mr. Walker also served as the completions manager for the company’s Mid-Continent, Eagle Ford, Utica and Marcellus plays, as well as in various other operational roles.  

Prior to that time, Mr. Walker worked for Legend Natural Gas as a drilling, completions and production engineer and Anadarko Petroleum where he held a number of operations positions of increasing importance. 

Mr. Walker holds a Bachelor of Science degree in petroleum engineering from the University of Oklahoma and an Executive MBA in energy from the University of Oklahoma’s Price College of Business.  

Samuel Langford

Director

Samuel Langford was named to Chaparral’s Board of Directors in 2017. Mr. Langford continues to serve as the principal for Langford Upstream Advisory, L.L.C., a position he has held since 2013. Prior to Langford, he spent eight years working in positions of growing responsibility at Newfield Exploration, including roles as the company’s vice president of corporate development, general manager for its Mid-Continent Business Unit and senior corporate advisor. Before joining Newfield, Mr. Langford spent time at Cockrell Oil Corporation, British Gas E&P, Tenneco Inc., Tenneco Oil Co. and Exxon USA.

Mr. Langford is currently also a member of the board of directors for Basic Energy Services. He received his Bachelor of Science degree in mechanical engineering from Auburn University.

Matthew D. Cabell

Director

Matthew D. Cabell joined Chaparral’s Board of Directors in 2017. Mr. Cabell retired from Seneca Resources in 2016, where he had served as its president since 2006. Prior to that time, he was as an executive vice president and general manager at Marubeni Oil & Gas, USA, and held various roles in the exploration and production segments of Texaco and Amerada Hess Corporation.

Mr. Cabell currently serves as an advisor to KKR. He has also previously served as a member of the board for the American Exploration and Production Council and America’s Natural Gas Alliance. Mr. Cabell earned a Bachelor of Science degree in geology from the University of Michigan and his Masters of Business Administrations from Cornell University’s Johnson Graduate School of Management.

Marcus (Marc) Rowland

Director

Marcus Rowland joined Chaparral’s Board of Directors in 2019. Mr. Rowland is the founder and senior managing director of IOG Capital, LP and the chief executive officer of IOG Resources, LLC. Prior to founding IOG Capital, he served as the chief executive officer at FTS International, Inc. (formerly Frac Tech International, LLC) from May 2011 to November 2012 and as the president and chief financial officer of Frac Tech Services, LLC and Frac Tech International, LLC from November 2010 to May 2011. Mr. Rowland served as the chief financial officer or equivalent positions of Chesapeake Energy Corporation from 1993, when the company became publicly traded, until October 2010.

Mr. Rowland currently serves on a number of private and public boards, including as chairman of the board for SilverBow Resources. He is a 1975 alumnus of Wichita State University and currently serves as a member of the university’s investment committee.

 

Kenneth W. Moore

Director

Kenneth W. Moore joined Chaparral’s Board of Directors in 2017. Mr. Moore is currently the president of KWM Advisors, L.L.C., a position he has held since 2016.From 2004 to 2015, he served as a managing director at First Reserve Corporation, a global private equity firm, which invests exclusively in the energy industry. Prior to that time, Mr. Moore served as a vice president at Morgan Stanley New York and as a director for Enstar Group Limited, Chart Industries, Inc. and Dresser-Rand Group Inc.

Mr. Moore is currently a member of the board of directors for Peabody Energy and SEAL Legacy Foundation. He has also previously served on several other boards, including those for Enstar Group, Dresser Rand and Chart Industries. Mr. Moore graduated from Tufts University with a Bachelor of Arts degree in English and received his Master of Business Administration from Cornell University.

K. Earl Reynolds

Chief Executive Officer

K. Earl Reynolds joined Chaparral in 2011 as an executive vice president and chief operating officer before being named as the company’s president in 2014 and its chief executive officer in 2017.

From 2000 to 2010, Mr. Reynolds led the International Business Unit and was actively involved in strategic planning for Devon Energy, most recently serving as senior vice president of strategic development, where he was responsible for strategic planning, budgeting, coordination of acquisitions and divestitures, and oversight of the company’s assessment of oil and gas reserves.

Prior to Devon, Mr. Reynolds’ career included several key leadership roles in domestic and international operations with companies such as Burlington Resources and Mobil Oil.

Mr. Reynolds has served on the board of directors for several nonprofit organizations in Houston and Oklahoma City. He currently sits on the board of directors for the Oklahoma City YMCA and the Oklahoma Independent Petroleum Association, where he serves as the Chairman of its Regulatory Committee. Mr. Reynolds holds a Master of Science degree in petroleum engineering from the University of Houston and a Bachelor of Science degree in petroleum engineering from Mississippi State University. In 2013 he was named as a Distinguished Fellow of the Mississippi State University Bagley College of Engineering.

Gysle Shellum

Director

Gysle Shellum was named to Chaparral’s Board of Directors in 2017. Mr. Shellum previously served as the chief financial officer of PDC Energy, Inc. from 2008 until his retirement in 2016. Prior to that time, he was the vice president of finance at CrossTex Energy, L.P. (now EnLink Midstream, L.L.C.). Mr. Shellum also previously held senior financial positions ina number of exploration and production companies after begining his career in public acocunting withthe Dallas firm, Arthur Andersen & Co. 

Mr. Shellum served as an at-large director for the Independent Petroleum Association of America in 2016 and 2017 and served on the University of Colorado Global Energy Management Graduate Program’s Advisory Council until his retirement. Mr. Shellum received his Bachelor of Business Administration in accounting from the University of Texas at Arlington.

Douglas E. Brooks

Director

Douglas E. Brooks joined Chaparral’s Board of Directors in 2017. Prior to joining the board, Mr. Brooks served as president and chief executive officer for Energy XXI Gulf Coast, Inc., an offshore Gulf of Mexico exploration and production company, from 2017 until it was acquired by an affiliate of Cox Oil LLC in October 2018. In addition, he served as president and chief executive officer of Yates Petroleum, a privately owned exploration and production company focused on the Delaware and Powder River basins, which merged with EOG Resources, and Aurora Oil & Gas Limited, which merged with Baytex Energy Corporation. Before that time, Mr. Brooks served as a senior vice president at Forest Oil Corporation. He has also built two private, equity-sponsored firms focused on unconventional resource projects in the western U.S. Mr. Brooks spent 24 years with Marathon Oil Company in roles of increasing responsibility, lastly as the director of upstream mergers and acquisitions and business development for the Americas. 

Mr. Brooks has served as a board member for Energy XXI, Gulf Coast, Inc., Yates Petroleum, Aurora Oil & Gas Limited and Madalena Energy in Canada. He is currently a private investor and an advisor for Hart Energy’s A&D Watch, a global energy research publication. Mr. Brooks holds a Bachelor of Science degree in business management from the University of Wyoming – Casper and a Masters of Business Administration, Finance from Our Lady of the Lake University in Texas.

Robert F. Heinemann

Chairman

Robert F. Heinemann was named chairman of the board in 2017. From 2002 to 2013, Mr. Heinemann worked for Berry Petroleum Company, serving as a director and then as the president and chief executive officer for the last nine years of his tenure. Prior to that time, he was employed at Halliburton Company and Mobil Exploration and Producing, as well as various other Mobil entities, in positions of increasing responsibility.

Mr. Heinemann currently serves on the board for several other energy companies, including Crescent Point Energy Corporation, Crestone Peak Resources, L.L.C. and Great Western Oil and Gas Company, L.L.C., where he was the chairman from 2014 to 2016. He has also previously served on the board for Yates Petroleum Corporation until its merger in late 2016 and as chairman of the board for C12 Energy, L.L.C. Mr. Heinemann holds Bachelor of Engineering and PhD degrees in chemical engineering from Vanderbilt University.

Our Values

Chaparral’s focus on continuous improvement and excellence is created by our people and culture. Our success is fueled by and built on the Chaparral Values, a core set of actions and the values of our people.

Promoting Integrity

We are committed to honesty and ethical practices in every aspect of our business. We respect and value the opinions, ideas and abilities of our employees and stakeholders and recognize the importance of open communication in building successful long-term partnerships.

We hold our employees to a high standard of excellence and place a tremendous emphasis on our relationships with our neighbors, partners and vendors through our Code of Business Conduct and Ethics.

Driving Results

We approach every project, both internal and external, with meticulous attention to detail and innovative thought to help us execute at the highest possible level. Though “excellence is its own reward,” we know that it brings actual rewards as well, in the form of profits, performance and enhanced relationships.

Building Relationships

Successful relationships are built on trust, respect and open, honest communication. We appreciate diverse perspectives and respect the differences that make each of our employees, partners and neighbors unique. 

Employing Technical Excellence

We are never satisfied with the status quo. It’s why we push ourselves to research and analyze situations to understand and gain insight into problem solving and decision making as we strive toward continuous improvement. We encourage every team member to be masters in their technical area, adapt to change and never stop learning from their experience and the people around them.

Corporate Governance

Annual Report

Corporate Governance Guidelines

Nominating and Governance Charter

Audit Committee Charter

Compensation Committee Charter

Business Code of Ethics

a namesake block image of Our Namesake: The Chaparral

Our Namesake: The Chaparral

Chaparral was named after the fleet-footed Chaparral bird. Commonly known as the roadrunner, the Chaparral's combination of speed, agility and highly-developed survival instincts means it never stands still. And neither do we. 

Corporate Timeline

  • A New Era

    Chaparral ushers in a new era in the company’s rich history with our uplisting to the New York Stock Exchange under the symbol CHAP. We also continued to grow through a number of transactions, including a 7,000-acre, bolt-on acquisition in Kingfisher County and the successful completion of a $300 million senior notes offering. In addition, proved STACK reserves grew by almost 50% from the previous year to 73.7 MMBoe and we replaced more than 500% of our 2018 STACK production.

    2018
  • Focus on STACK

    With the sale of our North Burbank and Texas Panhandle enhanced oil recovery (EOR) assets, we complete our transition to a premiere pure play STACK operator. Chaparral's approximate 110,000 net acre position in central Oklahoma’s fast-growing STACK Play provides decades of highly economical drilling inventory. In addition, we also continue to set ourselves apart as a best-in-class operator with per well costs consistently averaging more than $500,000 less than our STACK competitors.  

    2017
  • A Pure Mid-Continent Story

    Chaparral completes our transition to a pure Mid-Continent producer with the $300 million sale of our ARK-LA-TX properties. The sale marks our emergence as a true Mid-Continent leader, with significant positions in the Mississippi Lime and emerging STACK plays, coupled with our low-risk, stable EOR oil assets such as our North Burbank Unit.

    2015
  • Injection Begins on World-class EOR Project

    In June 2013, a CO2 pipeline is completed, running from a Coffeyville, Kansas, fertilizer plant to Chaparral’s North Burbank Unit. Thus CO2 injection begins on this world-class project. With a future net production potential of more than 14,000 Boe/d and a Burbank Gross Uplift EUR of 88 MMboe, the unit is the largest unitized field in Oklahoma with more than 1,100 MMboe of original oil in place. It offers the opportunity to become the largest EOR project in the state, potentially a true accelerator for the company and our EOR program.

    2013
  • First Unconventional Resource Drilling Commences

    Our acquisitions bless us with a material legacy acreage property base that offers significant upside potential. So Chaparral shifts our strategy to acquiring grass-roots leases to supplement our legacy acreage position, and begins exploring our first unconventional reservoirs using horizontal drilling and modern hydraulic fracturing technology. This allows us to access oil trapped in low-permeability rock formations to produce significant returns from plays that had been written off as non-viable.

    2011
  • Strategy Shift Begins

    Given an ongoing sluggish economy and a poor public equity market, Chaparral sells a 36 percent equity stake in the company to a private equity firm, CCMP Capital Advisors, LLC, generating $325 million in new capital allowing the company to continue to grow as we shift from acquisitions to drilling.

    This new strategy, supplemented with more than two decades of successful management, lays the groundwork for even greater success going forward. In fact, by bringing in additional equity and successfully implementing our ongoing capital investment programs, Chaparral receives the Excellence Award for the Turnaround Company of the Year in 2010 from Hart Publications’ Oil and Gas Investor.

    2010
  • Economy Stalls, But Not Chaparral

    Thanks to our 2006 oil-price hedge program, when the economy plunges near the end of 2008 and oil prices plummet to $40 a barrel, Chaparral survives intact, while many oil companies meet their demise.

    2008
  • Growing in Stature

    We make our single largest acquisition to date by acquiring Calumet Oil Company out of Tulsa, Oklahoma. Calumet, a pioneer in early Oklahoma oil, had acquired numerous large oilfields. Chaparral funds this acquisition by selling a 25 percent equity stake in the company and entering the public debt market for the first time, with $300 million in high-yield bonds. The acquisition also nearly doubles our employee base and unlocks a vast array of E&P and EOR opportunities. As a result, we become one of Osage County’s largest operators, generating 40 percent of the oil royalties for the Osage Nation.

    To control our debt/risk profile, we also hedge (forward-sell) much of our oil and gas for the next five years for more than $100 a barrel.

    2006
  • Acquisition of Partnership

    To support our increasing appetite for properties and growth, Chaparral reacquires our interest in the Bristol properties for $150 million from our 2000 Bristol Resources acquisition deal.

    Armed with a thorough knowledge of these properties after five years of operations, Chaparral recognizes a tremendous upside for the company with this purchase and still generates a $100 million profit for our partner.

    2005
  • Growing CO2 EOR

    To support our growing CO2 EOR business, Chaparral enters into the CO2 transportation business, acquiring 80 miles of pipeline running from North Texas to the Camrick CO2 Unit. This pipeline in turn delivers 12 million cubic feet per day (Mcf/d) of captured CO2 to facilitate production growth, tripling our Camrick Unit production to 550 barrels of oil equivalent per day (Boe/d).

    2003
  • Building Our EOR Experience

    Chaparral initiates our own CO2 EOR project from scratch in the Camrick Unit located in the Oklahoma Panhandle. This field once thought to be depleted and unfit for CO2 EOR operations performs exceptionally well, setting the stage for a successful new line of business.

    2001
  • Well-timed Partnership Spurs Additional Growth

    Chaparral makes our first major acquisition, acquiring Bristol Resources for approximately $90 million through a partnership with a leading financial entity. This acquisition greatly increases our presence in several different states and even includes some offshore operations.

    2000
  • First Step Into CO2 EOR

    Continuing to grow, Chaparral seeks new opportunities to convert undervalued oilfields into moneymakers. By acquiring an existing CO2 EOR project from Henry Petroleum in southern Oklahoma we gain our first hands-on EOR experience. Using modern injection techniques, some wells see production more than double.

    1999
  • Thriving, Despite the Market

    Oil prices plummet 80 percent in just a few months, from $40 a barrel to $8 a barrel. Chaparral does more than merely weather the storm. Thanks to prudent financial management and well-timed oil-price hedging we continue to thrive.

    1998
  • A Place to Call Home

    Chaparral purchases an 18,000-square-foot building located on Britton Road for our corporate headquarters in Oklahoma City, providing a true home and base of operations.

    1996
  • From Risk to Reward

    Chaparral excels with a talent for identifying, acquiring and unlocking the value of plays that other companies have written off as having “no remaining potential.” We capitalize on these opportunities by working over wells thought to be depleted, revitalizing production by installing artificial lift techniques. With a strong belief in the upside of secondary water-flooding and tertiary recover processes — particularly carbon dioxide (CO2) enhanced oil recovery (EOR) — Chaparral begins acquiring large, older, depleted multi-well fields. It is an opportunity packed with risk and the chance for big rewards and it pays off.

    1993
  • Early Growth

    Through hard work, Chaparral enjoys early success and continues to grow our property base through acquisitions. With an objective to capture incremental profit margin through oil and gas operations, we establish our Field and Equipment Services Division and open our first field office in Weatherford, Oklahoma.

    1991
  • Chaparral is Born

    Pooling $50,000 apiece from Chairman, Chief Executive Office and Co-founder Mark Fischer and Kitscotty Oil Company (consisting of Fischer’s brother, co-founder and board member, Charles Fischer, and Charles’ partners, Ken McCourt, Ron Jakimchuk and Gary Klassen), Chaparral forms in April 1988 with the strategy of acquiring producing properties. A few months later the company acquires five oil-producing properties in Oklahoma’s Panhandle, which generates our first revenues.

    1988