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Stock impact report

Chaparral Energy Reaffirms $325 Million Borrowing Base

CHAPARRAL ENERGY INC (CHAP) 
Last chaparral energy inc earnings: 3/11 04:45 pm Check Earnings Report
Company Research Source: GlobeNewswire
OKLAHOMA CITY, Sept. 30, 2019 (GLOBE NEWSWIRE) -- Chaparral Energy, Inc. (NYSE: CHAP) announced today the company’s bank group has completed its regularly scheduled fall borrowing base redetermination and reaffirmed the borrowing base at $325 million. As of June 30, 2019 the company had approximately $33 million in cash and cash equivalents and $85 million drawn on the borrowing base.  “Given the current market conditions, we are very pleased with the outcome of our fall borrowing base redetermination,” said Chaparral Chief Executive Officer Earl Reynolds. “The continued support we have received from our banks and their recognition of our premier STACK and Merge assets provides us with the financial flexibility to adjust to changing market conditions. Due to our strong balance sheet and superior execution we will be able to continue to deliver outstanding results while focusing on achieving cash flow neutrality.” The company’s next regularly scheduled semi-annual borrowing bas Show less Read more
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