About Us

Chaparral Energy

At Chaparral we are never satisfied with the status quo. Like our namesake the fleet-footed roadrunner, our combination of speed, agility and adaptability means we are never happy standing still. Our story is one that embodies innovation, resourcefulness, creativity, financial responsibility and loyalty to the communities in which we operate.

Our operations stretch from the Texas Panhandle to the Tallgrass Prairie of northeastern Oklahoma, however, our primarily area of focus is the fast-growing, highly economical STACK Play in Oklahoma’s Canadian, Garfield and Kingfisher counties. Fueled by our more than 350 talented employees, we have grown from our humble beginnings to become the third-largest oil producer in Oklahoma, with potential reserves of more than 1 billion barrels of oil equivalent (Boe). While energy companies are nothing new in Oklahoma, Chaparral continues to set ourselves apart through our entrepreneurial spirit and dedication to continuous improvement.

Our History

Enjoy a quick walk through our company’s rich history.

Leadership

Get to know the people at the helm of our organization.

Accolades

See what others think sets Chaparral apart.

By the Numbers

Mid-Continent surface acres

~ 400,000 net

Total Oil and Gas Production

24,387 Boe/d in 2016E

Oil-focused Reserves as of year-end 2016E
Total proven

131.3 MMboe

Total potential

1 billion boe

Corporate Timeline

  • Focus on STACK

    Chaparral’s approximately 100,000 net surface acres in Oklahoma’s fast-growing STACK Play in Garfield, Kingfisher and Canadian counties allows the company to realize tremendous gains in efficiency and cost reduction. With per well costs consistently averaging more than $500,000 less than our competitors, Chaparral is quickly setting ourselves apart as a best-in-class operator.

    2017
  • A Pure Mid-Continent Story

    Chaparral completes our transition to a pure Mid-Continent producer with the $300 million sale of our ARK-LA-TX properties. The sale marks our emergence as a true Mid-Continent leader, with significant positions in the Mississippi Lime and emerging STACK plays, coupled with our low-risk, stable EOR oil assets such as our North Burbank Unit.

    2015
  • Injection Begins on World-class EOR Project

    In June 2013, a CO2 pipeline is completed, running from a Coffeyville, Kansas, fertilizer plant to Chaparral’s North Burbank Unit. Thus CO2 injection begins on this world-class project. With a future net production potential of more than 14,000 Boe/d and a Burbank Gross Uplift EUR of 88 MMboe, the unit is the largest unitized field in Oklahoma with more than 1,100 MMboe of original oil in place. It offers the opportunity to become the largest EOR project in the state, potentially a true accelerator for the company and our EOR program.

    2013
  • First Unconventional Resource Drilling Commences

    Our acquisitions bless us with a material legacy acreage property base that offers significant upside potential. So Chaparral shifts our strategy to acquiring grass-roots leases to supplement our legacy acreage position, and begins exploring our first unconventional reservoirs using horizontal drilling and modern hydraulic fracturing technology. This allows us to access oil trapped in low-permeability rock formations to produce significant returns from plays that had been written off as non-viable.

    2011
  • Strategy Shift Begins

    Given an ongoing sluggish economy and a poor public equity market, Chaparral sells a 36 percent equity stake in the company to a private equity firm, CCMP Capital Advisors, LLC, generating $325 million in new capital allowing the company to continue to grow as we shift from acquisitions to drilling.

    This new strategy, supplemented with more than two decades of successful management, lays the groundwork for even greater success going forward. In fact, by bringing in additional equity and successfully implementing our ongoing capital investment programs, Chaparral receives the Excellence Award for the Turnaround Company of the Year in 2010 from Hart Publications’ Oil and Gas Investor.

    2010
  • Economy Stalls, But Not Chaparral

    Thanks to our 2006 oil-price hedge program, when the economy plunges near the end of 2008 and oil prices plummet to $40 a barrel, Chaparral survives intact, while many oil companies meet their demise.

    2008
  • Growing in Stature

    We make our single largest acquisition to date by acquiring Calumet Oil Company out of Tulsa, Oklahoma. Calumet, a pioneer in early Oklahoma oil, had acquired numerous large oilfields. Chaparral funds this acquisition by selling a 25 percent equity stake in the company and entering the public debt market for the first time, with $300 million in high-yield bonds. The acquisition also nearly doubles our employee base and unlocks a vast array of E&P and EOR opportunities. As a result, we become one of Osage County’s largest operators, generating 40 percent of the oil royalties for the Osage Nation.

    To control our debt/risk profile, we also hedge (forward-sell) much of our oil and gas for the next five years for more than $100 a barrel.

    2006
  • Acquisition of Partnership

    To support our increasing appetite for properties and growth, Chaparral reacquires our interest in the Bristol properties for $150 million from our 2000 Bristol Resources acquisition deal.

    Armed with a thorough knowledge of these properties after five years of operations, Chaparral recognizes a tremendous upside for the company with this purchase and still generates a $100 million profit for our partner.

    2005
  • Growing CO2 EOR

    To support our growing CO2 EOR business, Chaparral enters into the CO2 transportation business, acquiring 80 miles of pipeline running from North Texas to the Camrick CO2 Unit. This pipeline in turn delivers 12 million cubic feet per day (Mcf/d) of captured CO2 to facilitate production growth, tripling our Camrick Unit production to 550 barrels of oil equivalent per day (Boe/d).

    2003
  • Building Our EOR Experience

    Chaparral initiates our own CO2 EOR project from scratch in the Camrick Unit located in the Oklahoma Panhandle. This field once thought to be depleted and unfit for CO2 EOR operations performs exceptionally well, setting the stage for a successful new line of business.

    2001
  • Well-timed Partnership Spurs Additional Growth

    Chaparral makes our first major acquisition, acquiring Bristol Resources for approximately $90 million through a partnership with a leading financial entity. This acquisition greatly increases our presence in several different states and even includes some offshore operations.

    2000
  • First Step Into CO2 EOR

    Continuing to grow, Chaparral seeks new opportunities to convert undervalued oilfields into moneymakers. By acquiring an existing CO2 EOR project from Henry Petroleum in southern Oklahoma we gain our first hands-on EOR experience. Using modern injection techniques, some wells see production more than double.

    1999
  • Thriving, Despite the Market

    Oil prices plummet 80 percent in just a few months, from $40 a barrel to $8 a barrel. Chaparral does more than merely weather the storm. Thanks to prudent financial management and well-timed oil-price hedging we continue to thrive.

    1998
  • A Place to Call Home

    Chaparral purchases an 18,000-square-foot building located on Britton Road for our corporate headquarters in Oklahoma City, providing a true home and base of operations.

    1996
  • From Risk to Reward

    Chaparral excels with a talent for identifying, acquiring and unlocking the value of plays that other companies have written off as having “no remaining potential.” We capitalize on these opportunities by working over wells thought to be depleted, revitalizing production by installing artificial lift techniques. With a strong belief in the upside of secondary water-flooding and tertiary recover processes — particularly carbon dioxide (CO2) enhanced oil recovery (EOR) — Chaparral begins acquiring large, older, depleted multi-well fields. It is an opportunity packed with risk and the chance for big rewards and it pays off.

    1993
  • Early Growth

    Through hard work, Chaparral enjoys early success and continues to grow our property base through acquisitions. With an objective to capture incremental profit margin through oil and gas operations, we establish our Field and Equipment Services Division and open our first field office in Weatherford, Oklahoma.

    1991
  • Chaparral is Born

    Pooling $50,000 apiece from Chairman, Chief Executive Office and Co-founder Mark Fischer and Kitscotty Oil Company (consisting of Fischer’s brother, co-founder and board member, Charles Fischer, and Charles’ partners, Ken McCourt, Ron Jakimchuk and Gary Klassen), Chaparral forms in April 1988 with the strategy of acquiring producing properties. A few months later the company acquires five oil-producing properties in Oklahoma’s Panhandle, which generates our first revenues.

    1988

Our Vision

Every acre we lease, location we select and well we drill is designed to deliver the best possible return for each dollar we invest in our operations. An investment we’re maximizing in the highly economical STACK Play of central Oklahoma, where multiple layers of oil-producing formations sit stacked one on top of another. This geological phenomenon, known as stacked plays, allows us to produce a tremendous amount of oil and gas from a single location. In fact, we can drill as many as 16 separate wells from a single location.

Fueled by efficiencies such as this, one of the industry’s lowest-cost operating structures and our employees' unwavering commitment to best-in-class performance, Chaparral is quickly emerging as a premier STACK player as we continue our mission of Energizing America’s Heartland™.

Our Values

Chaparral’s focus on continuous improvement and excellence is created by our people and culture. Our success is fueled by and built on the Chaparral Values, a core set of actions and the values of our people.

We are committed to honesty and ethical practices in every aspect of our business. We respect and value the opinions, ideas and abilities of our employees and stakeholders and recognize the importance of open communication in building successful long-term partnerships.

We hold our employees to a high standard of excellence and place a tremendous emphasis on our relationships with our neighbors, partners and vendors through our Code of Business Conduct and Ethics.

We approach every project, both internal and external, with meticulous attention to detail and innovative thought to help us execute at the highest possible level. Though “excellence is its own reward,” we know that it brings actual rewards as well, in the form of profits, performance and enhanced relationships.

Successful relationships are built on trust, respect and open, honest communication. We appreciate diverse perspectives and respect the differences that make each of our employees, partners and neighbors unique. 

We are never satisfied with the status quo. It’s why we push ourselves to research and analyze situations to understand and gain insight into problem solving and decision making as we strive toward continuous improvement. We encourage every team member to be masters in their technical area, adapt to change and never stop learning from their experience and the people around them.

Our Namesake: The Chaparral

Chaparral was named after the fleet-footed Chaparral bird. Commonly known as the roadrunner, the Chaparral's combination of speed, agility and highly-developed survival instincts means it never stands still. And neither do we. 

Leadership

Leadership Philosophy

Our guiding philosophy is essential and runs deep — do right by our employees, shareholders, owners and local communities, and in turn, their support will fuel our mutual success. This approach began with our founding and has always been the foundation of our company’s culture, values and strategies. Today our leadership team’s extensive knowledge and experience combine to guide Chaparral’s long-term success.

K. Earl Reynolds

Chief Executive Officer

K. Earl Reynolds joined Chaparral in 2011 as an executive vice president and chief operating officer before being named as the company’s president in 2014 and its chief executive officer in 2017.

From 2000 to 2010, Mr. Reynolds led the International Business Unit and was actively involved in strategic planning for Devon Energy, most recently serving as senior vice president of strategic development, where he was responsible for strategic planning, budgeting, coordination of acquisitions and divestitures, and oversight of the company’s assessment of oil and gas reserves.

Prior to Devon, Mr. Reynolds’ career included several key leadership roles in domestic and international operations with companies such as Burlington Resources and Mobil Oil.

Mr. Reynolds has served on the board of directors for several nonprofit organizations in Houston and Oklahoma City. He currently sits on the board of directors for the Oklahoma City YMCA and the Oklahoma Independent Petroleum Association, where he serves as the Chairman of its Regulatory Committee. Mr. Reynolds holds a Master of Science degree in petroleum engineering from the University of Houston and a Bachelor of Science degree in petroleum engineering from Mississippi State University. In 2013 he was named as a Distinguished Fellow of the Mississippi State University Bagley College of Engineering.

Joseph O. Evans

Chief Financial Officer and Executive Vice President

Joseph O. Evans joined Chaparral in 2005 as chief financial officer and executive vice president. From 1998 to 2005, Mr. Evans was a consultant and practiced public accounting with the firm of Evans Gaither & Assoc. Prior to that time, he served as senior vice president and financial advisor for First National Bank of Commerce in New Orleans.

From 1976 to 1997, Mr. Evans worked in the Oklahoma practice of Deloitte & Touche, where he became an audit partner. While at Deloitte he was a member of the energy industry group and was responsible for services on numerous commission filings for clients.

Mr. Evans has instructed numerous continuing professional education courses focused on compliance with the Sarbanes Oxley Act. He is a certified public accountant and an accredited petroleum accountant. Mr. Evans is a graduate of the University of Central Oklahoma with a Bachelor of Science degree in accounting.

James M. Miller

Sr. Vice President – Operations

James M. Miller joined Chaparral in 1996 as its operations engineer. Since joining the company, Mr. Miller has been promoted to positions of increasing responsibility and currently oversees the company’s production and completion operations as senior vice president of operations. During this time, he has gained particular expertise in the area of operating secondary and tertiary recovery units.

Prior to joining Chaparral, Mr. Miller worked for KEPCO Operating Inc. as a petroleum engineer. From 1987 to 1995, he was employed by Robert A. Mason Production Co. as a petroleum engineer and later as vice president of production.

He is a member of the Society of Petroleum Engineers and the American Petroleum Institute. Mr. Miller attended the University of Oklahoma and received a Bachelor of Science degree in petroleum engineering.

Douglas E. Brooks

Director

Douglas E. Brooks joined Chaparral’s Board of Directors in 2017. Prior to joining the board, Mr. Brooks served as the president and chief executive officer for Yates Petroleum, a privately owned exploration and production company focused on the Delaware and Powder River basins. Before that time, he served as chief executive officer of Aurora Oil & Gas Limited and a senior vice president at Forest Oil Corporation. In addition, he spent 24 years with Marathon Oil Company in roles of increasing responsibility, lastly as the director of upstream mergers and acquisitions and business development for the Americas.

Mr. Brooks has also built two private equity-sponsored firms focused on unconventional resource projects in the western U.S. and served as a board member for Aurora Oil & Gas Limited, Magdalena Energy Company, Yates Petroleum and the Houston Producers’ Forum. He is currently an advisor for Hart Energy’s A&D Watch, a global energy research publication. Mr. Brooks holds a Bachelor of Science degree in business management from the University of Wyoming – Casper and a Masters of Business Administration, Finance from Our Lady of the Lake University in Texas.

Matthew D. Cabell

Director

Matthew D. Cabell joined Chaparral’s Board of Directors in 2017. Mr. Cabell retired from Seneca Resources in 2016, where he had served as its president since 2006. Prior to that time, he was as an executive vice president and general manager at Marubeni Oil & Gas, USA, and held various roles in the exploration and production segments of Texaco and Amerada Hess Corporation.

Mr. Cabell currently serves as an advisor to KKR. He has also previously served as a member of the board for the American Exploration and Production Council and America’s Natural Gas Alliance. Mr. Cabell earned a Bachelor of Science degree in geology from the University of Michigan and his Masters of Business Administrations from Cornell University’s Johnson Graduate School of Management.

Robert F. Heinemann

Director

Robert F. Heinemann was named to Chaparral’s Board of Directors in 2017. From 2002 to 2013, Mr. Heinemann worked for Berry Petroleum Company, serving as a director and then as the president and chief executive officer for the last nine years of his tenure. Prior to that time, he was employed at Halliburton Company and Mobil Exploration and Producing, as well as various other Mobil entities, in positions of increasing responsibility.

Mr. Heinemann currently serves on the board for several other energy companies, including Crescent Point Energy Corporation, Crestone Peak Resources, L.L.C. and Great Western Oil and Gas Company, L.L.C., where he was the chairman from 2014 to 2016. He has also previously served on the board for Yates Petroleum Corporation until its merger in late 2016 and as chairman of the board for C12 Energy, L.L.C. Mr. Heinemann holds Bachelor of Engineering and PhD degrees in chemical engineering from Vanderbilt University.

Samuel Langford

Director

Samuel Langford was named to Chaparral’s Board of Directors in 2017. Mr. Langford continues to serve as the principal for Langford Upstream Advisory, L.L.C., a position he has held since 2013. Prior to Langford, he spent eight years working in positions of growing responsibility at Newfield Exploration, including roles as the company’s vice president of corporate development, general manager for its Mid-Continent Business Unit and senior corporate advisor. Before joining Newfield, Mr. Langford spent time at Cockrell Oil Corporation, British Gas E&P, Tenneco Inc., Tenneco Oil Co. and Exxon USA.

Mr. Langford is currently also a member of the board of directors for Basic Energy Services. He received his Bachelor of Science degree in mechanical engineering from Auburn University.

Kenneth W. Moore

Director

Kenneth W. Moore joined Chaparral’s Board of Directors in 2017. From 2004 to 2015, Mr. Moore served as a managing director at First Reserve Corporation, a global private equity firm, which invests exclusively in the energy industry. Prior to that time, he served as a vice president at Morgan Stanley New York and as a director for Enstar Group Limited, Chart Industries, Inc. and Dresser-Rand Group Inc.

Mr. Moore is currently a member of the board of directors for Cobalt International. He has also previously served on several other boards, including those for Enstar Group, Dresser Rand and Chart Industries. Mr. Moore graduated from Tufts University with a Bachelor of Arts degree in English and received his Master of Business Administration from Cornell University.

K. Earl Reynolds

Chief Executive Officer

K. Earl Reynolds joined Chaparral in 2011 as an executive vice president and chief operating officer before being named as the company’s president in 2014 and its chief executive officer in 2017.

From 2000 to 2010, Mr. Reynolds led the International Business Unit and was actively involved in strategic planning for Devon Energy, most recently serving as senior vice president of strategic development, where he was responsible for strategic planning, budgeting, coordination of acquisitions and divestitures, and oversight of the company’s assessment of oil and gas reserves.

Prior to Devon, Mr. Reynolds’ career included several key leadership roles in domestic and international operations with companies such as Burlington Resources and Mobil Oil.

Mr. Reynolds has served on the board of directors for several nonprofit organizations in Houston and Oklahoma City. He currently sits on the board of directors for the Oklahoma City YMCA and the Oklahoma Independent Petroleum Association, where he serves as the Chairman of its Regulatory Committee. Mr. Reynolds holds a Master of Science degree in petroleum engineering from the University of Houston and a Bachelor of Science degree in petroleum engineering from Mississippi State University. In 2013 he was named as a Distinguished Fellow of the Mississippi State University Bagley College of Engineering.

Gysle Shellum

Director

Gysle Shellum was named to Chaparral’s Board of Directors in 2017. Mr. Shellum previously served as the chief financial officer of PDC Energy, Inc. from 2008 until his retirement in 2016. Prior to that time, he was the vice president of finance at Cross Energy, L.P. (now EnLink Midstream, L.L.C.).

Mr. Shellum is currently an at-large director for the Independent Petroleum Association of America and serves on the University of Colorado Global Energy Management Graduate Program’s Advisory Council. He received his Bachelor of Arts in accounting from the University of Texas.