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Chaparral Energy names new CEO, directors

Chaparral Energy's headquarters is shown at 701 Cedar Lake Blvd. in Oklahoma City. [OKLAHOMAN ARCHIVES]
Chaparral Energy's headquarters is shown at 701 Cedar Lake Blvd. in Oklahoma City. [OKLAHOMAN ARCHIVES]

Oklahoma City oil and natural gas executive Charles "Chuck" Duginski has been named president and CEO at Chaparral Energy Inc. as part of a broader change in the company's leadership, officials said Monday.

Duginski assumed the new role effective Dec. 20. Most recently, he was chief operating officer and senior vice president at Oklahoma City-based Tapstone Energy LLC. He previously was an executive at Oklahoma City energy companies Echo Energy, Continental Resources Inc. and Chesapeake Energy Corp. Duginski has a bachelor's degree in mechanical engineering from the University of Oklahoma.

“We believe Chuck will bring strong leadership and a fresh perspective to Chaparral’s business in the STACK and Merge while at the same time benefiting from the valuable insights of the Chaparral team,” Chaparral Chairman Marc Rowland said in a statement. “With over 25 years of experience, he is a seasoned industry veteran, and we look forward to leveraging his expertise and leadership as we continue to create value for our shareholders.”

Duginski replaces K. Earl Reynolds, who joined Chaparral in 2011 and served as CEO since January 2017, guiding the company as it emerged from bankruptcy reorganization.

“I am honored to be asked to join and lead the Chaparral team,” Duginski said in a statement. “Opportunities in this basin abound, and I am confident that with keen focus on technical and operational excellence, safe operations and improved cost structure, Chaparral will create value even in this challenging upstream environment.”

Also on Monday, Chaparral officials announced that Michael Kuharski and Mark "Mac" McFarland have been named Chaparral directors and that Matthew Cabell is stepping down from the board.

Kuharski is a director on the North American Investment Team of Strategic Value Partners LLC, Chaparral’s largest shareholder. He previously worked with Eaton Park Capital Management as an investment advisor. He has bachelor's degrees in finance and economics from the University of St. Thomas and a Master of Business Administration from Harvard Business School.

McFarland is executive chairman of GenOn Energy Inc. and a director at TerraForm Power, where he previously was president and CEO. He has a bachelor's degree from Virginia Tech University and a Master of Business Administration from the University of Delaware.

Chaparral's stock price surged on the announcement Monday morning. By 11 a.m., the stock was up almost 25 cents, or nearly 23%, to almost $1.34 per share.

Adam Wilmoth

Adam Wilmoth returned to The Oklahoman as energy editor in 2012 after working for four years in public relations. He previously spent seven years as a business reporter at The Oklahoman, including five years covering the state's energy sector.... Read more ›

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