Source: Streetwise Reports 12/12/2019
The deal details are relayed in a ROTH Capital Partners report.
In a Dec. 10 research note, ROTH Capital Partners analyst John White purported that a recent development in the industry is positive for Chaparral Energy Inc. (CHAP:NYSE) as its primary areas of operation are the STACK and MERGE plays in Oklahoma.
The development is an agreement between Devon Energy and Dow to co-develop part of Devon’s STACK acreage, with Dow committing about $100 million to drilling over the next four years. The two companies will start year by developing two drill units in Canadian County, where Chaparral “has 23,000 net acres with an average 66% interest” and “98% held by production,” White explained.
ROTH has a Buy rating and a $9 target price on Chaparral. The company currently trading at around $0.93 per share.
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Disclosures from ROTH Capital Partners, Chaparral Energy Inc., Flash Note, December 10, 2019
Regulation Analyst Certification (“Reg AC”): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
ROTH makes a market in shares of Chaparral Energy, Inc. and as such, buys and sells from customers on a principal basis
Shares of Chaparral Energy, Inc. may be subject to the Securities and Exchange Commission’s Penny Stock Rules, which
may set forth sales practice requirements for certain low-priced securities.
ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.
( Companies Mentioned: CHAP:NYSE,