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CHAP - Chaparral Energy: Stock Remains Risky Due To Significant Cash Burn And Increasing Leverage
Chaparral Energy Inc. Class A
Chaparral Energy (CHAP) has so far managed to avoid the severe financial troubles that have afflicted a number of the other shallow STACK focused companies such as Jones Energy (JONE), Gastar Exploration (GSTCQ), Alta Mesa Resources (AMR) and Roan Resources (ROAN). However, despite some promising well results, I believe that there is a good chance that it is going to run into similar challenges itself if oil stays in the mid-$50s due to its high rate of cash burn as it attempts to scale up, and its already higher than ideal leverage.