Chaparral in Kingfisher acquisition

USA

OKLAHOMA CITY, December 28, 2017 – Chaparral Energy has agreed to purchase USD 60 million worth of acreage in Kingfisher county, expanding its position in the Oklahoma Stack play by about 28%, the independent announced on Wednesday.

The private seller in the transaction, expected to close next month, was not named.

“We are particularly excited about this acquisition due to its location adjacent to our existing operations in the sweet spot of this highly productive play,” said CEO Earl Reynolds in a statement. “Our understanding of the rock, extensive experience in the area and access to existing infrastructure will allow us to maximise the value of this core area.”

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