Oklahoma 2018

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OKLAHOMA: KEY PLAYERS | November 2018 | 13 Basin (in western Oklahoma), according to the company's website. The company has 600,000 net acres in Oklahoma, according to a 2017 Oklahoma fact sheet. Chaparral Energy LLC Active in the Stack play since 2013, Chaparral Energy's operations primarily stretch across Oklahoma's Blaine, Canadian, Garfield, Kingfisher and Major counties. The company has a resource base with potential reserves of more than 1 Bboe, and it has a potential recovery of more than 900 MMboe, according to the company's website. The company has more than 119,000 Stack acres and more than 315,000 Midcontinent net surface acres. Approximately 71% of the acreage is HBP, according to a June investor presentation. The "current development plan will hold the major- ity of acreage with approximately one to two rigs dedicated to holding acreage through 2019," the presentation stated. The company reported about 88 operated hori- zontal wells in the first quarter and brought online 17 new gross operated wells in the second quarter. Chaparral reported 13,198 boe/d Stack produc- tion in the second quarter, which is up from the 10,379 boe/d reported at year-end 2017, according to the company's first- and second-quarter results report. Chaparral's average total production was 23,010 boe/d at year-end 2017 and 19,725 boe/d (39% natural gas and 61% liquids) in the second quarter of 2018. In the third quarter, the company will oper- ate three rigs and expects Stack production to be between 13,500 and 14,500 boe/d. Chaparral is in a joint venture (JV) with Bayou City Energy (BCE) to accelerate devel- opment of 13 wells in Garfield County and 17 wells in Canadian County. BCE funds 100% of the drilling and completion costs up to $100 million. The JV program has resulted in 18 wells drilled and 14 wells on production, according to the June investor presentation. Chaparral has seen strong internal rates of return and growing production as it has worked to delineate its more than 45,000-acre Garfield County, Stack position in early 2018. (Photo courtesy of Chaparral Energy)

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