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Chaparral Spending $135-155MM in the STACK for 2017
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Chaparral Energy detailed its year-end 2016 results as well as its 2017 guidance.
2017 GuidanceChaparral’s total company production guidance for 2017 is between 8.2 and 8.6 MMBoe. Its total capital budget for the year will be $135 – $155 million, the majority of which will be dedicated to developing its STACK position.
This is an +33% increase from the company's 2016 budget of $109 million.
The company expects its total LOE/Boe costs, including both its E&P and EOR business units, to be between $10.50 and $11.00 in 2017, and its normalized 2017 G&A/Boe cost to range from $3.40 to $4.20 per Boe.
Highlights for the 2016 include: The company’s emergence from Chapter 11, which allowed it to shed $1.2 billion in debt and save $107 million in annual interest expense, making it one of the…- ✓ Full news archive — U.S., Canada & international coverage
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