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Chaparral Energy Extension Approved

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The U.S. Bankruptcy Court approved Chaparral Energy’s motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including April 3, 2017 and June 2, 2017, respectively.

As previously reported, “The Debtors have no ulterior motive in seeking an additional extension of the Exclusive Periods. The Debtors have worked diligently in the prepetition and postpetition periods to maximize the value of their estates. The Debtors have been in regular communication with creditors on numerous issues facing the estates, including the terms of the Plan and Disclosure Statement. The Debtors are not seeking an extension to pressure their creditors to take any action, but only to ensure that the Debtors can pursue emergence free from distraction.”

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