Chaparral Story High-growth, pure-play STACK/Merge oil company 14.4 MBoe/d 2018 STACK production 20.5 MBoe/d 2018 total production 52% full year 2018 STACK production growth Premier, contiguous acreage position 131,000 acres in…
2018 Chaparral Highlights Issued 300mm in senior notes and increased undrawn borrowing base from 265 to 325 million Recorded STACK production growth of: 60% Q4 2017 to Q4 2018 52% full-year 2017 to full-year 2018 Increased total…
Year-End 2018 Proved Reserves Grew STACK year-end 2018 reserves by 50% Replaced 519% of 2018 STACK production at 7.80/Boe F&D cost 94.8 MMBoe of Reserves1 34% Oil, 61% Liquids Reserves by Area 1.9 27% 34% 53.6 74.1 20.7 39.3…
2019 Strategy PURE-PLAY Accelerate development in Canadian County Merge STACK/MERGE Define optimal spacing across de-risked acreage COMPANY Continue delineation and de-risking of Garfield acreage RETURNS Focus exclusively on…
2019 Guidance 2019 Guidance Highlights FY 2018 FY 2019 YoY Actual Guidance Change Maintain capital discipline in volatile commodity Production (MBoe/d) environment Total Company 20.5 25.0 - 27.0 Reducing operated rigs from four to…
Operational Overview NYSE: CHAP 8
STACK/Merge Attributes World-class Woodford source rock Favorable Geology +700 feet of saturated hydrocarbon column Multiple reservoir development opportunities Robust service sector support Extensive Infrastructure Numerous…
Continuous Petroleum System STACK/Merge Attributes N Stacked reservoirs proximal to the world-class Woodford source rock Efficient hydrocarbon stratigraphic trap creates a continuous petroleum STACK system Play attributes are…
Oil Price Breakevens for US Shale Plays 55 50 45 40 35 30 Eagle Ford Northern STACK Southern Southern SCOOP Northern Bakken Eagle Ford Niobrara (Oil) Delaware Midland Delaware Midland (Gas & Cond.) Source: Credit…
Operational Excellence Drilling and Completions Strong, Effective Focus on Cost Control Chaparral Osage and Meramec D&C represents top tier in normal pressure STACK Low well cost and consistent production results produce excellent…
Meramec Well Performance Excellent recent operated well performance for Merge and STACK Meramec type curve areas Average results are exceeding or in-line with current type curve expectations Type curve rates-of-return: 45% to…
Osage Well Performance Strong recent operated well performance for Upper and Lower Osage type curve areas Average results are exceeding or in-line with current type curve expectations Type curve rates-of-return: 30% to 50%1 Upper…
Strong Culture of Continuous Learning Science and technology driven collaborative approach Process of continuous improvement drives results Science Learnings Technology Results Execution Key Spacing Principals Development…
Systematic Approach to Spacing Development Canadian Kingfisher Denali King Koopa Meramec partial spacing test Meramec/Osage partial spacing test Minimal inter-well communication Minimal inter-well communication Parent at pre-infill…
Financial Overview NYSE: CHAP 18
Financial Strategy Maintain balance sheet strength Target net debt to adjusted EBITDA ratio of approximately 2.5x or less Supplement cash flow with proceeds from non-core asset sales Development plan funding available due to ample…
Financial Position and Liquidity Highlights Chaparral Liquidity Closed on a 300 million senior ( in Millions) Actual FYE 2018 unsecured notes offering in June 2018 Cash and Cash Equivalents1 37 Increased credit facility borrowing…
Why Chaparral Strong Balance Sheet Experienced Execution-focused, Management with Pure-play STACK Excellent Track Operations Record Deep Inventory of High-return Drilling Prospects NYSE: CHAP 21
Appendix NYSE: CHAP 22
Crude Oil Marketing Crude Oil Acreage in close proximity to Cushing and in-state refineries Premium price due to gravity and quality of barrel Substantial capacity to market via truck or existing pipeline Majority of oil marketed…
Natural Gas & NGL Marketing Natural Gas and NGL Midstream super system, with multiple plants and residue outlets Residue and NGL agreements with midstream operators who have firm transportation Approximately 50/50 NGL markets and…
Commodity Realizations Oil & NGL Realizations as % of WTI Crude Oil Differentials 96% 99% 80 93% 100% Proximity to numerous markets provides better CHAP 90% net back as compared to other basins 70 WTI Average Daily Settle…
Core STACK & Merge Type Curve Overview STACK Osage, Meramec & Merge Miss North South Lower Upper Meramec Merge Woodford Woodford Osage Osage Lateral Length (ft.) 4,800 4,800 4,800 4,800 4,800 4,800 Well Cost (mm) 4.0 4.5 4.4 4.4…
STACK Type Curve Assumptions STACK Meramec Lower Osage Upper Osage North Woodford South Woodford Merge Miss Well Cost Assumptions Well Costs (mm) 4.0 3.9 4.1 4.4 4.4 4.5 Well Costs (/ft) 833 813 854 917 917 938 Type Curve…
STACK Meramec and Merge Miss Overview Spud Peak IP-301 Liquids1 Lateral Lease Operator Date Boe/d % Length 1 KING KOOPA PAD Avg. (2 wells) CHAPARRAL 9/1/2018 484 66% 4,739 2 SLIMER 1707 1UMH-23 CHAPARRAL 9/5/2017 713 85% 4,839 3…
Non-Core Legacy Asset Overview Mature legacy fields Low-maintenance capital Provides free cash flow to fuel STACK growth Potential strategic alternatives Net Production1 Gross Margin1 Net Proved Reserves Area Boe/d % Oil…
STACK Drilling Joint Venture Joint venture between CHAP and Bayou City Energy (BCE) Accelerate development of 131,000 STACK acres Key driver in de-risking Garfield 50% and Canadian County Merge 80% to date 22 wells online as of…
Reconciliations Successor Predecessor Jan 1, 2018 Mar 22, 2017 Jan 1, 2017 through through through (in thousands) Dec 31, 2018 Dec 31, 2017 Mar 21, 2017 Net (loss) income 33,442 (118,902) (19,115) Interest expense 11,383 14,147…
Reconciliations STACK Drillbit F&D and Reserve Replacement 2017 Metrics 2018 Metrics Calculation Total Company Production (MBoe) 8,399 7,490 STACK Production (MBoe) 3,464 5,279 (A) Proved Reserves (MBoe) Total Company Proved…
Contact Information Chaparral Energy, Inc. 701 Cedar Lake Boulevard Oklahoma City, OK 73114 Investors Media Scott Pittman Brandi Wessel Chief Financial Officer Manager Communications investor.relationschaparralenergy.com…
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