Chaparral Energy's 2013 debt includes $1.25 billion of senior notes

By Lisa Kerner

Charlotte, N.C., March 31 - Chaparral Energy, Inc. reported its fourth-quarter and full-year 2013 earnings results on Monday.

The Oklahoma City-based oil and natural gas production and exploration company had total long-term debt, including current maturities, of $1.6 billion, according to a form 10-K filed with the Securities and Exchange Commission.

Chaparral's debt includes 9 7/8% senior notes due 2020, 8¼% senior notes due 2021 and 7 5/8% senior notes due 2022 totaling $1.25 billion.

The company maintains a senior secured revolving credit facility with a borrowing base of $600 million that is scheduled to mature on Nov. 1, 2017.

Cash and cash equivalents at year-end totaled $48.6 million.

According to the filing, Chaparral had about 1.43 million shares of common stock outstanding at March 25.

Chaparral has not paid any dividends on its common stock in either of the last two years. It does not currently anticipate paying any cash dividends in the foreseeable future.

Full-year revenues were about $629 million compared to $556 million for the prior year.

Cash flows from operating activities were $264 million in 2013 and $192 million in 2012.

In 2013, Chaparral used $515 million in investing activities, compared to a use of $423 million in 2012.

Net cash provided by financing activities was about $270 million in 2013 and $227 million in 2012.

Oklahoma City-based Chaparral is an oil and natural gas production and exploration company.

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