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8-15 State business briefs | Business

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Chaparral Energy provides update

OKLAHOMA CITY — Chaparral Energy Inc. announced its updated strategic vision, the disposition of non-core southern Oklahoma assets and the acquisition of complementary assets within Chaparral’s focus area.

In addition, the company provided an operational update, including recent development drilling results.

Strategic highlights include the following:

• Divested non-core southern Oklahoma assets with net production of approximately 900 boe/d (~50% oil) on July 30.

• Executed agreement to acquire assets within our focus area with net production of about 1,900 boe/d (~33% oil) and about 39,000 net acres.

• Reported June 30 first lien net leverage of 0.50x (total net leverage of 0.77x).

• Paid down $62 million of debt year-to-date ($47 million…

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