Chapparal Energy Requests Second Extension

Have you suffered losses in Chapparal Energy, Inc.? If so, the securities attorneys of The White Law Group may be able to help you.

Chaparral Energy is a privately owned independent oil and natural gas exploration and production company in the Mid-Continent region, with more than 1 billion barrels of oil equivalent (Boe) and more than 350 employees, according to their website.It is involved in the acquisition, exploration, development, production, and operation of oil and natural gas properties primarily in Oklahoma and Texas. The company also operates CO2 enhanced oil recovery projects.

As we told you in May (Investor Alert: Chapparal Energy Files Chapter 11 Bankruptcy Protection) on May 9, 2016, Chaparral Energy, Inc. along with its affiliates filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court.

Now, Chaparral Energy, Inc. is seeking a court order for more time to file a plan for emerging from bankruptcy, stating in court papers that a few more weeks will help talks with stakeholders for garnering their support.

In the court papers filed on Monday they stated there has been significant progress since mid-October in resolving outstanding issues with its stakeholders, but would need a second extension.

Brokerage firms that sell oil and gas investments, like Chapparal Energy have a fiduciary duty to perform adequate due diligence to determine if the investment has a reasonable likelihood of success. Unfortunately, some brokers may have recommended Chapparal Energy to investors even though the investment was unsuitable for their clients.  Investment recommendations should be in line with a client’s age, investment experience, net worth, and investment objectives. When brokers make inappropriate investment recommendations, both the broker and the firm may be liable for investment losses.

If you have suffered losses with your investment in Chapparal Energy, Inc. and would like to speak with a securities attorney about your litigation options, please call The White Law Group at (888) 637-5510 for a free consultation.

The White Law Group, LLC is a national securities fraud, securities arbitration and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. To learn more about The White Law Group visit www.whitesecuritieslaw.com.