skip to main content

October 22, 2020

Press Release

A Stroock Financial Restructuring team, led by partners Kristopher Hansen and Erez Gilad, along with partners Alex Cota, Brian Kelly and Jeff Lowenthal, and special counsel Samantha Martin, represented an ad hoc group of holders of more than 78% of senior unsecured notes issued by Chaparral Energy, Inc. in connection with a restructuring of the Company through pre-packaged bankruptcy cases filed in the U.S. Bankruptcy Court for the District of Delaware. On October 14, 2020, Chaparral announced that it successfully completed its financial restructuring and emerged from chapter 11.  Pursuant to the restructuring, the ad hoc group provided $35 million in exit financing in the form of new convertible second lien notes and received a majority of the new stock.  

Chaparral is involved in the exploration, development, production, operation and acquisition of oil and natural gas properties. Its properties are located primarily in Oklahoma and its commodity products include crude oil, natural gas and natural gas liquids.