OKLAHOMA CITY, Okla., June 1, 2011 (GLOBE NEWSWIRE) -- Chaparral Energy, Inc. today announced it has been selected to receive the Oil and Gas Investor Excellence Award for the 2010 Turnaround of the Year for its successful private-equity and public-debt raise transactions. These transactions significantly reduced Chaparral's debt and extended its debt maturities such that it currently has no bank or bond maturities until 2017 and further provided the necessary capital to accelerate and further develop its onshore U.S. Oil and gas assets.
The 7th annual Excellence Awards will be made by Oil and Gas Investor magazine at Hart Energy's Energy Capital Conference on June 2, 2011, in Houston. Additional information regarding Chaparral's successful turnaround can be found in the June Edition of Oil and Gas Investor magazine.
"We admire any company that can turn around its finances, attract new private equity investors and improve its profile in the market, and that is what Chaparral Energy has done. We are happy to give credit where it is due, to CEO Mark Fischer and his team," said Leslie Haines, editor-in-chief of Oil and Gas Investor in Houston.
Mark Fischer, Chaparral's Chief Executive Officer, commented, "We are very pleased to have received this award in recognition of our efforts in repositioning the company to move forward with a much improved balance sheet. The combination of the multiple transactions that we accomplished will allow us to achieve an accelerated growth scenario in upcoming years that otherwise would not have been possible and at the same time provide the financial stability required in today's environment to be acceptable to our secured lenders and public debt bond holders."
In 2011, Oil and Gas Investor magazine celebrates 30 years of setting the standard for energy journalism. Headquartered in Houston, Hart Energy, publisher of Oil and Gas Investor, ranks among the leading providers of news, data and analysis for the global energy industry. Its market-leading publishing and consulting expertise has been extended to online products (databases, maps) and services (web sites, market information) as well as industry conferences and exhibitions.
Chaparral Energy is an independent oil and natural gas production and exploitation company, headquartered in Oklahoma City. Since its inception in 1988, the Company has increased reserves and production primarily by acquiring and enhancing properties in its core areas of the Mid-Continent and the Permian Basin. Chaparral has extensive experience and expertise in enhanced oil recovery and has a large inventory of potential CO2 tertiary recovery projects.
CONTACT: Chaparral Energy Diane Montgomery, (405) 426-4000 diane.montgomery@chaparralenergy.com www.chaparralenergy.com