Quarterly / Earnings Reports | Second Quarter (2Q) Update | Financial Results | Forecast - Production | Capital Markets | Drilling Activity | Capex Increase
Chaparral Energy Ramps Up 2017 Capex +33%; Touts Expanded STACK Position
Print
|
Chaparral Energy reported its Q2 2017 results.
Capex Increase: An increase in its total capital budget to $185 to $200 million for the year (up +33% from $145 milliion initially)
Guidance Increase: An increase in its 2017 total production guidance to 8.3 to 8.7 MMBoe, including an anticipated 45% year-over-year growth in its STACK exit rate to more than 10 MBoe/d (this is up from 8.4 MMBOE initially projected
Q2 Drilling: During the quarter, the company brought seven new STACK wells on production, of which four were in the Meramec, two in the Osage and one in the Woodford. Initial production from these wells is encouraging. In addition, it participated in 28 outside operated STACK wells.
Expanded STACK Position: Secured almost 18,000 acres in the STACK during the first half of 2017, which included approximately 15,600 acres in its Garfield County position, as well as 2,000 acres in Kingfisher and Canadian counties. Chaparral currently has a more than 110,000 net acre position in the STACK.
More Second Quarter (2Q) Update News
Berry Reaffirms FY25 Guidance; Uinta Wells Drive 2H Growth
Berry Corporation delivered a steady second quarter update that reinforced the company’s core message for 2025: production is on plan, guidance is intact, and the hedge book is…
SM Energy Hits Record Output; Driven by Uinta
In Q2 2025, SM Energy (NYSE: SM) delivered a performance that underscored its evolution from a mid-cap E&P into a streamlined, tech-enabled operator executing a multibasin optimization strategy.…
Expand Energy Talks, Wells, Frac Crews, Production For 2H-2025
In the second half of 2025, Expand Energy is not chasing production growth — it's engineering it. Fresh off record-setting drilling performance in Q2, the company is approaching…
Comstock Rides Higher Gas Prices, Operational Momentum in Q2 2025
Comstock Resources delivered a resilient second quarter, capitalizing on higher natural gas prices and solid well results across the Haynesville and Bossier plays. The company reported strong production…
A Quarter of Quiet Strength: CNX’s Patient Ascent in Appalachia
In the heart of Appalachia, CNX Resources continued to methodically execute on a playbook built for resilience and long-term value. Q2 2025 marked the company’s 22nd consecutive quarter…
Mid-Continent - Anadarko Basin News
Comstock to Acquire Assets from Ovation Energy For $62.5 Million
Comstock Resources agreed to acquire substantially all of the assets of Ovation Energy, L.P. for $62.5 million, expanding its producing footprint across multiple U.S. natural gas basins. The…
Devon Energy Corp. First Quarter 2023 Results
Devon Energy Corp., announced first quarter 2023 results. Highlights Oil production reached an all-time high of 320,000 barrels per day in the first quarter Capital activity headlined by…
SandRidge Energy, Inc., First Quarter 2023 Results
SandRidge Energy, Inc., announced first quarter 2023 results. Highlights First quarter net income was $23.8 million, or $0.64 per basic share. Adjusted net income(1) was $25.7 million, or…
PHX Minerals Inc., First Quarter 2023 Results
PHX Minerals Inc., announced first quarter 2023 results. Highlights Net income was $9.6 million, or $0.27 per share, compared to net income of $3.3 million, or $0.09 per…
Coterra Energy Inc., First Quarter 2023 Results
Coterra Energy Inc., announced first quarter 2023 results. Highlights Net Income (GAAP) totaled $677 million, or $0.88 per share. Adjusted Net Income (non-GAAP) was $661 million, or $0.87…