Chaparral Energy granted exclusivity extension amid plan support talks

By Caroline Salls

Pittsburgh, Dec. 2 – Chaparral Energy, Inc. obtained an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Chaparral’s exclusive plan-filing period was extended by roughly two months through Jan. 11 and the solicitation period through March 13.

The company said it is working with its pre-bankruptcy lenders and an informal committee to finalize the terms of a restructuring support agreement.

“While significant progress has been made, negotiations are ongoing and, accordingly, the debtors have filed this motion out of an abundance of caution,” Chaparral said in the motion.

Based in Oklahoma City, Chaparral is an oil and gas company. It filed for bankruptcy on May 9, 2016 under Chapter 11 case number 16-11144.

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