Exploration & Production | Top Story | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update | Key Wells
Chaparral Touts Strong Year; Ups Production, Total Wells Drilled
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Chaparral Energy, Inc. announced its year-end 2014 financial results and provided an update on its operations today.
Highlights included: Average total production of 30.1 Mboe/d during the fourth quarter, a 26 percent year over year pro-forma increase for the sale of Ark-La-Tx properties A 17 percent pro-forma year-over-year growth in reserves to 159.4 MMBoe Adjusted EBITDA of $455 million in 2014, a 17 percent year over year increase Revenues of $681.6 million before the effect of hedging activities, a 15.2 percent year over year increase Approximately $300 million in asset sales during the year, completing the company's shift to become a pure-play Mid-Continent oil and gas producer Record-setting activity levels, with the company drilling 119 gross new wellsChief Executive Officer…
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