Driving results through continuous improvement is more than a goal at Chaparral. It is one of the values on which our company was built and something that is never more apparent than in the way we regard every dollar we spend. Through ongoing measurement and analysis Chaparral continues to identify methods to lower our cost structure, deliver results and improve the return on our capital investments.
That is why we have focused our efforts on Oklahoma's fast-growing STACK Play, where we continue to see outstanding rates of return despite the current low-price environment. With almost 5,300 drilling locations on our approximate 110,000 net surface acres, Chaparral has decades of STACK inventory just waiting to be developed.
*A reconciliation of our EBITDA to our net income can be found in our filing with the Securities & Exchange Commission.
None available at this time.