Restructuring

Chaparral Energy

restructuringInformation & Resources

On August 15th, Chaparral entered into a Restructuring Support Agreement (“RSA”) with key creditor groups, including holders of 78% of the loans under its first lien revolving credit facility and holders of 78% of its 8.75% Senior Notes due 2023. The company has commenced soliciting votes to approve of a prepackaged plan of reorganization and has voluntarily filed petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware in accordance with the RSA. Through the Chapter 11 process, Chaparral expects to equitize all $300 million in Senior Notes, significantly deleveraging its balance sheet and strategically positioning the Company for long-term success.

On October 14th, 2020 the Company successfully emerged from bankruptcy as a private company. Throughout this process we remained committed to maintaining our long-standing relationships with our employees, owners, vendors and the communities where we operate. As anticipated, we were able continue to meet our obligations to each and maintain our high standards of operational excellence.

If you are a third party looking for claims information, or if you would like more information about the restructuring process, please contact our noticing agent at http://www.kccllc.net/chaparral2020, call (866) 523-2941 (toll free), (781) 575-2044 (toll) or email Chaparral2020Info@kccllc.com.