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STACK-Focused Chaparral Energy Files Chapter 11 Again
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STACK focused Chaparral Energy has filed for Chapter 11 bankruptcy again. This is the second time the company has filed in four years.
As of the first quarter, the company had $400 million in net debt. Back in May, the company issued a statement citing growing concern (first sign of impending bankruptcy), suspended drilling and began exploring options for the company.
Back in April the company also awarded bonuses to the executives, a trend that seems picking up stream where company management is awarded millions in bonuses just before filing for bankruptcy.
Other STACK/Oklahoma focused E&Ps to file bankruptcy include:
- Alta Mesa
- Tapstone
- Templar Energy
- Echo Energy Partners
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