Chaparral Energy Inc. successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy on Oct. 14 as a private, non-SEC filing company.

The Oklahoma shale driller entered Chapter 11 bankruptcy in August, marking the second time the company has filed for bankruptcy protection since 2016. The company’s assets and liabilities were in the range of $500 million to $1 billion, according to a court filing in the U.S. Bankruptcy Court in Delaware. It had around $421 million of debt outstanding at the end of 2019.

“We are very pleased to have completed this efficient and consensual reorganization in under 60 days, and we look forward to working with our stakeholders and newly-appointed board members in charting a course as a private company with firmer financial footing,” CEO Chuck Duginski said statement. “As a result of the consensual and expedited process, we have preserved the value of the restructured enterprise and the opportunity for success in a dynamic energy environment.”

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