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CHAPARRAL ENERGY, INC.

(CHAPQ)
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First Amended Pre-Packaged Reorganization Plan and Disclosure Statement Approved for Chaparral Energy, Inc.

10/01/2020 | 12:00am EST

The US Bankruptcy Court approved the first amended joint pre-packaged plan of reorganization and disclosure statement of Chaparral Energy, Inc. on October 1, 2020. The debtor has filed its first amended plan in the Court on September 29, 2020. As per the amended plan, administrative claims, professional fee claims, priority tax claims, other priority claims and other secured claims will be paid full in cash. RBL claims of $190.33 million will be paid through pro rata share of all lender portion, pro rata share of Exit facility Revolving Lender Cash Portion and Exit Facility Revolving Loans. Senior Note claims of $315.33 million will be paid through pro rata share of 100% of the total issued new common stocks and subscription rights. General unsecured claims, intercompany claims and intercompany interests will be reinstated. Chaparral Parent Equity Interests will be cancelled or else, each holder of an allowed Chaparral parent equity interest that is a partial cash-out equity interest will receive pro rata share of the All Holder settlement portion and new warrants and each holder of an allowed Chaparral parent equity interest that is a full cash-out equity interest will receive pro rata share of the All Holder settlement portion and cash in an amount equal to $0.01508 per share. Other Chaparral parent equity interests will be cancelled. The plan will be funded through cash in hand, sale of assets, Exit Revolving facility, Second Out Term loan, issuance of new common stock, warrants and subscription rights.


ę S&P Capital IQ 2020
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Managers and Directors
Charles Duginski Chairman & Chief Executive Officer
Patrick Graham Senior Director-Corporate Finance
Joshua Dunane Walker Vice President-Completions & Operations
Craig M. Kelleher Director
Brian D. Connolly Director
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