Chaparral Energy, Inc. (OTCQB:CHPE) announced today it has priced $300 million of 8.750% senior unsecured notes due 2023. The company intends to use the net proceeds from the offering to pay down the outstanding balance of its revolving credit facility and for general corporate purposes. The offering is expected to close on June 29, 2018, subject to customary closing conditions.
The senior notes have not been, and will not be, registered under the Securities Act of 1933, as amended or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The senior notes will be offered in the United States only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States in reliance on Regulation S under the Securities Act.
About Chaparral
Chaparral is an independent oil and natural gas exploration and production company headquartered in Oklahoma City. Founded in 1988, Chaparral is a pure-play operator focused in Oklahoma’s highly economic STACK Play, where it has approximately 119,000 net acres primarily in Kingfisher, Canadian and Garfield counties. The company has approximately 315,000 net surface acres in the Mid-Continent region.
Investor Contact
Joe Evans
Chief Financial Officer
405-426-4590
joe.evans@chaparralenergy.com
Media Contact
Brandi Wessel
Communications Manager
405-426-6657
brandi.wessel@chaparralenergy.com
