Exhibit 10.19

FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT

AGREEMENT

This Fourth Amendment to Seventh Restated Credit Agreement (this “Fourth
Amendment”) is effective as of December 24, 2008 (the “Amendment Effective
Date”), by and among CHAPARRAL ENERGY, INC., a Delaware corporation (“Parent”),
CHAPARRAL ENERGY, L.L.C., an Oklahoma limited liability company (in its capacity
as Borrower Representative for the Borrowers, “Borrower Representative”),
JPMORGAN CHASE BANK, N.A., a national banking association, as Administrative
Agent (“Administrative Agent”), and each of the financial institutions a party
hereto as Lenders (hereinafter collectively referred to as “Lenders”, and
individually, “Lender”).

W I T N E S S E T H:

WHEREAS, Parent, Borrowers, Administrative Agent, the other Agents party thereto
and Lenders are parties to that certain Seventh Restated Credit Agreement dated
as of October 31, 2006 (as amended, the “Credit Agreement”) (unless otherwise
defined herein, all terms used herein with their initial letter capitalized
shall have the meaning given such terms in the Credit Agreement); and

WHEREAS, pursuant to the Credit Agreement, the Lenders have made revolving
credit loans to Borrowers; and

WHEREAS, the parties hereto desire to (a) amend certain terms of the Credit
Agreement in certain respects, and (b) reaffirm the Borrowing Base in an amount
equal to $600,000,000, to be effective as of the Amendment Effective Date and
continuing until the next redetermination of the Borrowing Base thereafter.

NOW THEREFORE, for and in consideration of the mutual covenants and agreements
herein contained and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged and confessed, Parent, Borrower
Representative (on behalf of Borrowers), Administrative Agent and Lenders hereby
agree as follows:

SECTION 1. Amendments. In reliance on the representations, warranties, covenants
and agreements contained in this Fourth Amendment, and subject to the
satisfaction of the conditions precedent set forth in Section 3 hereof, the
Credit Agreement is hereby amended effective as of the Amendment Effective Date
in the manner provided in this Section 1.

1.1 Amendments to Definitions. The definitions of “Alternate Base Rate”,
“Applicable Margin”, “Applicable Percentage”, “Borrower” and “Borrowers”, “LIBO
Rate”, “Loan Documents” and “Subsidiary” contained in Section 1.02 of the Credit
Agreement shall be amended to read in full as follows:

“Alternate Base Rate” means, for any day, a rate per annum equal to the greatest
of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective
Rate in effect on such day plus one-half of one percent (0.5%) and (c)

 

1

--------------------------------------------------------------------------------

the Adjusted LIBO Rate with respect to Interest Periods of one month on such day
(or if such day is not a Business Day, the immediately preceding Business Day)
plus one percent (1%), provided that, for the avoidance of doubt, the Adjusted
LIBO Rate for any day shall be calculated using the rate appearing on Reuters
Screen LIBOR01 Page (or on any successor or substitute page, or any successor to
or substitute for such page, providing rate quotations comparable to those
currently provided on such page, as determined by the Administrative Agent from
time to time for purposes of providing quotations of interest rates applicable
to dollar deposits in the London interbank market) at approximately 11:00 a.m.
London time on such day. Any change in the Alternate Base Rate due to a change
in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate
shall be effective from and including the effective date of such change in the
Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate,
respectively.

“Applicable Margin” means, for any day, with respect to any ABR Loan or
Eurodollar Loan, or with respect to the Commitment Fee Rate, as the case may be,
the rate per annum set forth in the Conforming Borrowing Base Utilization Grid
below based upon the Conforming Borrowing Base Utilization Percentage then in
effect:

 

Conforming Borrowing Base

Utilization Percentage

   <50%     ³50 <75%     ³75%
<90%     ³90% £
100%     > 100%
<110%     ³ 110%  

Eurodollar Loans

   2.000 %   2.250 %   2.500 %   2.750 %   3.500 %   3.750 %

ABR Loans

   1.125 %   1.375 %   1.625 %   1.875 %   2.625 %   2.875 %

Commitment Fee Rate

   0.500 %   0.500 %   0.500 %   0.500 %   0.500 %   0.500 %

Each change in the Applicable Margin shall apply during the period commencing on
the effective date of such change and ending on the date immediately preceding
the effective date of the next such change.

“Applicable Percentage” means, with respect to any Lender, the percentage of the
Aggregate Maximum Credit Amount represented by such Lender’s Maximum Credit
Amount as such percentage is set forth on Annex 1; provided, that in the case of
Section 5.06 when a Defaulting Lender shall exist, “Applicable Percentage” shall
mean the percentage of the Aggregate Maximum Credit Amount (disregarding any
Defaulting Lender’s Maximum Credit Amount) represented by such Lender’s Maximum
Credit Amount.

“Borrowers” means Chaparral Energy, L.L.C., an Oklahoma limited liability
company and successor by merger to Triumph Tools & Supply, L.L.C., an Oklahoma
limited liability company, Calumet Oil Company, an Oklahoma corporation, JMG
Oil & Gas, LP, an Oklahoma limited partnership and Chaparral Texas, L.P., an
Oklahoma limited partnership; NorAm Petroleum, L.L.C., an Oklahoma limited
liability company; Chaparral Resources, L.L.C., an Oklahoma limited liability
company; Chaparral CO2, L.L.C., an Oklahoma limited liability company; CEI
Acquisition, L.L.C., a Delaware limited liability company; CEI Pipeline, L.L.C.,
a Texas limited liability company; and Chaparral Real Estate, L.L.C., an
Oklahoma limited liability company and “Borrower” means any of the foregoing
individually.

 

2

--------------------------------------------------------------------------------

“LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest
Period, the greater of (a) the rate appearing on Reuters Screen LIBOR01 Page (or
on any successor or substitute page, or any successor to or substitute for such
page, providing rate quotations comparable to those currently provided on such
page, as determined by the Administrative Agent from time to time for purposes
of providing quotations of interest rates applicable to dollar deposits in the
London interbank market) at approximately 11:00 a.m., London time, two Business
Days prior to the commencement of such Interest Period, as the rate for dollar
deposits with a maturity comparable to such Interest Period and (b) two percent
(2%) per annum. In the event that such rate described in clause (a) above is not
available at such time for any reason, then such rate for the purposes of
calculating the “LIBO Rate” with respect to such Eurodollar Borrowing for such
Interest Period shall be the rate at which dollar deposits of $5,000,000 and for
a maturity comparable to such Interest Period are offered by the principal
London office of the Administrative Agent in immediately available funds in the
London interbank market at approximately 11:00 a.m., London time, two Business
Days prior to the commencement of such Interest Period.

“Loan Documents” means this Agreement, the First Amendment, the Second
Amendment, the Third Amendment, the Fourth Amendment, the Notes, the Letter of
Credit Agreements, the Letters of Credit, the Certificate of Effectiveness, and
the Security Instruments.

“Subsidiary” means (a) any Person of which at least a majority of the
outstanding Equity Interests having by the terms thereof ordinary voting power
to elect a majority of the board of directors, managers or other governing body
of such Person (irrespective of whether or not at the time Equity Interests of
any other class or classes of such Person shall have or might have voting power
by reason of the happening of any contingency) is at the time directly or
indirectly owned or controlled by Parent, a Borrower or one or more of their
Subsidiaries or by Parent, a Borrower and one or more of their Subsidiaries and
(b) any partnership of which a Credit Party is a general partner. Unless
otherwise indicated herein, (i) each reference to the term “Subsidiary” shall
mean a direct or indirect Subsidiary of Parent, and (ii) none of Chaparral
Biofuels, Oklahoma Ethanol nor Pointe Vista shall be deemed a “Subsidiary” of
any Credit Party hereunder.

1.2 Additional Definitions. Section 1.02 of the Credit Agreement shall be
amended to add the following definitions to such Section:

“Defaulting Lender” means any Lender, as reasonably determined by the
Administrative Agent, that has (a) failed to fund any portion of its Loans or
participations in Letters of Credit within three Business Days of the date
required to be funded by it hereunder, (b) notified the Borrowers, the
Administrative

 

3

--------------------------------------------------------------------------------

Agent, the Issuing Bank or any Lender in writing that it does not intend to
comply with any of its funding obligations under this Agreement or has made a
public statement to the effect that it does not intend to comply with its
funding obligations under this Agreement or under other agreements in which it
commits to extend credit, (c) otherwise failed to pay over to the Administrative
Agent or any other Lender any other amount required to be paid by it hereunder
within three Business Days of the date when due, unless the subject of a good
faith dispute, or (d) (i) become or is insolvent or has a parent company that
has become or is insolvent or (ii) become the subject of a bankruptcy or
insolvency proceeding, or has had a receiver, conservator, trustee or custodian
appointed for it, or has taken any action in furtherance of, or indicating its
consent to, approval of or acquiescence in any such proceeding or appointment or
has a parent company that has become the subject of a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee or custodian appointed
for it, or has taken any action in furtherance of, or indicating its consent to,
approval of or acquiescence in any such proceeding or appointment.

“Fourth Amendment” means that certain Fourth Amendment to Seventh Restated
Credit Agreement dated effective as December 24, 2008, among Parent, Borrower
Representative (on behalf of Borrowers), Administrative Agent and Lenders.

1.3 Amendment to Replacement of Lenders Provision. Clause (v) of Section 5.04(b)
of the Credit Agreement shall be deleted and replaced in its entirety with the
following:

“(v) any Lender becomes a Defaulting Lender hereunder,”.

1.4 Defaulting Lenders Provision. A new Section 5.06 shall be added to the
Credit Agreement as follows:

Section 5.06 Defaulting Lenders. Notwithstanding any provision of this Agreement
to the contrary, if any Lender becomes a Defaulting Lender, then the following
provisions shall apply for so long as such Lender is a Defaulting Lender:

(a) if any LC Exposure exists at the time a Lender becomes a Defaulting Lender
then:

(i) all or any part of such LC Exposure shall be reallocated among the
non-Defaulting Lenders in accordance with their respective Applicable
Percentages but only to the extent (x) the sum of all non-Defaulting Lenders’
Credit Exposure does not exceed the total of all non-Defaulting Lenders’
Commitments and (y) the conditions set forth in Section 6.02 are satisfied at
such time; and

(ii) if the reallocation described in clause (i) above cannot, or can only
partially, be effected, the Borrowers shall within one Business Day following
notice by the Administrative Agent cash

 

4

--------------------------------------------------------------------------------

collateralize such Defaulting Lender’s LC Exposure (after giving effect to any
partial reallocation pursuant to clause (i) above) in accordance with the
procedures set forth in Section 2.08(j); and

(b) so long as any Lender is a Defaulting Lender, the Issuing Bank shall not be
required to issue, amend or increase any Letter of Credit, unless it is
satisfied that the related exposure will be 100% covered by the Commitments of
the non-Defaulting Lenders and/or cash collateral will be provided by the
Borrowers in accordance with Section 5.06(a), and participating interests in any
such newly issued or increased Letter of Credit shall be allocated among
non-Defaulting Lenders in a manner consistent with Section 5.06(a)(i) (and
Defaulting Lenders shall not participate therein).

In the event that the Administrative Agent agrees that a Defaulting Lender has
adequately remedied all matters that caused such Lender to be a Defaulting
Lender, then the LC Exposure of the Lenders shall be readjusted to reflect the
inclusion of such Lender’s Commitment and on such date such Lender shall
purchase at par such of the Loans of the other Lenders as the Administrative
shall determine may be necessary in order for such Lender to hold such Loans in
accordance with its Applicable Percentage.

SECTION 2. Borrowing Base Reaffirmation. Pursuant to Section 2.07 of the Credit
Agreement, the Borrowing Base shall be reaffirmed at $600,000,000 effective as
of the Amendment Effective Date, and continuing until the next Scheduled
Redetermination or Interim Redetermination of the Borrowing Base thereafter.
Borrower Representative (on behalf of each Borrower), Parent and Lenders agree
that the reaffirmation of the Borrowing Base provided for in this Section 2
shall not be considered or deemed to be an Interim Redetermination. The Lenders
acknowledge that the Swap Agreements listed on Schedule 1 hereto (the “Specified
Swap Agreements”) have not been incorporated into any prior Borrowing Base
determination or any prior Conforming Borrowing Base determination and will not
be incorporated into the Borrowing Base as reaffirmed hereby and any applicable
Credit Party may terminate any or all of the Specified Swap Agreements.

SECTION 3. Conditions Precedent. The effectiveness of (a) the amendments to the
Credit Agreement contained in Section 1 hereof, and (b) the reaffirmation of the
Borrowing Base contained in Section 2 hereof, is subject to the satisfaction of
each of the following conditions precedent:

3.1 No Default. No Default or Event of Default shall have occurred which is
continuing.

3.2 Fees. In consideration for the agreements set forth herein, the Borrowers
shall have paid to Administrative Agent any and all fees payable to
Administrative Agent or Lenders pursuant to or in connection with the this
Fourth Amendment including, without limitation, the fee payable to certain of
the Lenders in an amount based on such Lender’s pro rata share of the Borrowing
Base (as reaffirmed hereby) and other fees described in that certain Fee Letter
dated as of December 19, 2008 among Parent, Borrower Representative,
Administrative Agent and J.P. Morgan Securities Inc.

 

5

--------------------------------------------------------------------------------

3.3 Other Documents. Administrative Agent shall have been provided with such
other documents, instruments and agreements, and Parent and Borrowers shall have
taken such actions, as Administrative Agent may reasonably require in connection
with this Fourth Amendment and the transactions contemplated hereby.

SECTION 4. Representations and Warranties of Borrowers. To induce the Lenders
and Administrative Agent to enter into this Fourth Amendment, Parent and
Borrower Representative (on behalf of Borrowers) hereby jointly and severally
represent and warrant to the Lenders and Administrative Agent as follows:

4.1 Reaffirm Existing Representations and Warranties. Each representation and
warranty of each Credit Party contained in the Credit Agreement and the other
Loan Documents is true and correct on the date hereof and will be true and
correct after giving effect to the amendments set forth in Section 1 hereof.

4.2 Due Authorization; No Conflict. The execution, delivery and performance by
Parent and Borrower Representative (on behalf of Borrowers) of this Fourth
Amendment are within Parent’s and Borrower Representative’s corporate and
limited liability company powers (as applicable), have been duly authorized by
all necessary action, require no action by or in respect of, or filing with, any
governmental body, agency or official and do not violate or constitute a default
under any provision of applicable law or any material agreement binding upon
Parent, any Borrower or any other Credit Party or result in the creation or
imposition of any Lien upon any of the assets of Parent, any Borrower or any
other Credit Party except Excepted Liens. Borrower Representative is duly
authorized to execute this Fourth Amendment on behalf of Borrowers, and upon
such execution and delivery, this Fourth Amendment shall be binding and
enforceable against each such Borrower as if this Fourth Amendment had been
executed by each such Borrower.

4.3 Validity and Enforceability. This Fourth Amendment constitutes the valid and
binding obligation of Parent and Borrowers enforceable in accordance with its
terms, except as (a) the enforceability thereof may be limited by bankruptcy,
insolvency or similar laws affecting creditor’s rights generally, and (b) the
availability of equitable remedies may be limited by equitable principles of
general application.

4.4 No Default or Event of Default. No Default or Event of Default has occurred
which is continuing.

SECTION 5. Miscellaneous.

5.1 Reaffirmation of Loan Documents; Extension of Liens. Any and all of the
terms and provisions of the Credit Agreement and the Loan Documents shall,
except as amended and modified hereby, remain in full force and effect. The
amendments contemplated hereby shall not limit or impair any Liens securing the
Indebtedness, each of which are hereby ratified, affirmed and extended to secure
the Indebtedness after giving effect to this Fourth Amendment.

 

6

--------------------------------------------------------------------------------

5.2 Parties in Interest. All of the terms and provisions of this Fourth
Amendment shall bind and inure to the benefit of the parties hereto and their
respective successors and assigns.

5.3 Legal Expenses. Parent and Borrower Representative (on behalf of Borrowers)
hereby jointly and severally agree to pay on demand all reasonable fees and
expenses of counsel to Administrative Agent incurred by Administrative Agent in
connection with the preparation, negotiation and execution of this Fourth
Amendment and all related documents.

5.4 Counterparts. This Fourth Amendment may be executed in counterparts, and all
parties need not execute the same counterpart; however, no party shall be bound
by this Fourth Amendment until Parent, Borrower Representative and Required
Lenders have executed a counterpart. Facsimiles or other electronic transmission
shall be effective as originals.

5.5 Complete Agreement. THIS FOURTH AMENDMENT, THE CREDIT AGREEMENT AND THE
OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT
BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN OR AMONG THE PARTIES.

5.6 Headings. The headings, captions and arrangements used in this Fourth
Amendment are, unless specified otherwise, for convenience only and shall not be
deemed to limit, amplify or modify the terms of this Fourth Amendment, nor
affect the meaning thereof.

5.7 Effectiveness. This Fourth Amendment shall be effective automatically and
without necessity of any further action by Parent, Borrower Representative,
Borrowers, Administrative Agent or Lenders when counterparts hereof have been
executed by Parent, Borrower Representative, Administrative Agent and Required
Lenders, and all conditions to the effectiveness hereof set forth herein have
been satisfied.

5.8 Governing Law. This Fourth Amendment shall be governed by, and construed in
accordance with, the laws of the State of Texas.

IN WITNESS WHEREOF, the parties hereto have caused this Fourth Amendment to be
duly executed by their respective Responsible Officers on the date and year
first above written.

[Signature pages to follow]

 

7

--------------------------------------------------------------------------------

PARENT:   CHAPARRAL ENERGY, INC.,   a Delaware corporation   By:  

/s/ Mark A. Fischer

    Mark A. Fischer, Chief Executive Officer and President BORROWERS:  
CHAPARRAL ENERGY, L.L.C.,  

an Oklahoma limited liability company, as a

Borrower and as Borrower Representative (on behalf of Borrowers)

  By:  

/s/ Mark A. Fischer

    Mark A. Fischer, Manager

Each of the undersigned (i) consent and agree to this Fourth Amendment and each
of the terms and provisions contained herein, and (ii) agree that the Loan
Documents to which it is a party shall remain in full force and effect and shall
continue to be the legal, valid and binding obligation of such Person,
enforceable against it in accordance with its terms.

  ACKNOWLEDGED AND AGREED TO BY: GUARANTORS:  

GREEN COUNTRY SUPPLY, INC.,

an Oklahoma corporation

  By:  

/s/ Mark A. Fischer

    Mark A. Fischer, President  

ROADRUNNER DRILLING, L.L.C.,

an Oklahoma limited liability company

  By:  

/s/ Mark A. Fischer

    Mark A. Fischer, Manager

[SIGNATURE PAGE 1 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

ADMINISTRATIVE AGENT/LENDER:  

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent and a Lender

  By:  

/s/ Kimberly A. Coil

   

Kimberly A. Coil,

Vice President

[SIGNATURE PAGE 2 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

FORTIS CAPITAL CORP.,

as a Lender

  By:  

/s/ Ilene Fowler

  Name:  

Ilene Fowler

  Title:  

Director

  By:  

/s/ Casey Lowan

  Name:  

Casey Lowan

  Title:  

Director

[SIGNATURE PAGE 3 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

THE ROYAL BANK OF SCOTLAND plc,

as a Lender

  By:  

/s/ Phil Ballard

  Name:  

Phil Ballard

  Title:  

Managing Director

[SIGNATURE PAGE 4 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

BANK OF AMERICA, N.A.,

as a Lender

  By:  

N/A

  Name:  

 

  Title:  

 

[SIGNATURE PAGE 5 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

BANK OF SCOTLAND plc,

as a Lender

  By:  

/s/ Karen Welch

  Name:  

Karen Welch

  Title:  

Vice President

[SIGNATURE PAGE 6 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

THE BANK OF NOVA SCOTIA,

as a Lender

  By:  

/s/ James Forward

  Name:  

James Forward

  Title:  

Managing Director

[SIGNATURE PAGE 7 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

BMO CAPITAL MARKETS FINANCING, INC.,

as a Lender

  By:  

/s/ James V. Ducote

  Name:  

James V. Ducote

  Title:  

Director

[SIGNATURE PAGE 8 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

CALYON NEW YORK BRANCH,

as a Lender

  By:  

N/A

  Name:  

 

  Title:  

 

  By:  

N/A

  Name:  

 

  Title:  

 

 

[SIGNATURE PAGE 9 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

COMERICA BANK,

as a Lender

  By:  

/s/ REBECCA L. WILSON

  Name:  

REBECCA L. WILSON

  Title:  

ASSISTANT VICE PRESIDENT

 

[SIGNATURE PAGE 10 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

GUARANTY BANK,

as a Lender

  By:  

/s/ W. David McCarver IV

  Name:  

W. David McCarver IV

  Title:  

Vice President

 

[SIGNATURE PAGE 11 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

UNION BANK OF CALIFORNIA, N.A.,

as a Lender

  By:  

/s/ Timothy Brendel

  Name:  

Timothy Brendel

  Title:  

Vice President

 

[SIGNATURE PAGE 12 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

SUNTRUST BANK,

as a Lender

  By:  

/s/ Andrew Johnson

  Name:  

Andrew Johnson

  Title:  

Director

 

[SIGNATURE PAGE 13 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

STERLING BANK,

as a Lender

  By:  

N/A

  Name:  

 

  Title:  

 

 

[SIGNATURE PAGE 14 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

U.S. BANK NATIONAL ASSOCIATION,

as a Lender

  By:  

/s/ Daria M. Mahoney

  Name:  

Daria M. Mahoney

  Title:  

Vice President

 

[SIGNATURE PAGE 15 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

BANK OF OKLAHOMA, N.A.,

as a Lender

  By:  

N/A

  Name:  

 

  Title:  

 

 

[SIGNATURE PAGE 16 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:   NATIXIS, as a Lender   By:  

/s/ Liana Tchernysheva

  Name:  

Liana Tchernysheva

  Title:  

Director

  By:  

/s/ Louis P. Laville, III

  Name:  

Louis P. Laville, III

  Title:  

Managing Director

 

[SIGNATURE PAGE 17 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

WELLS FARGO BANK, N.A.,

as a Lender

  By:  

N/A

  Name:  

 

  Title:  

 

 

[SIGNATURE PAGE 18 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

LENDER:  

ALLIED IRISH BANKS, p.l.c.,

as a Lender

  By:  

/s/ Mark K. Connelly

  Name:  

Mark K. Connelly

  Title:  

SVP

  By:  

/s/ Vaughn Buck

  Name:  

Vaughn Buck

  Title:  

Director

 

[SIGNATURE PAGE 19 TO FOURTH AMENDMENT TO SEVENTH RESTATED CREDIT AGREEMENT]

--------------------------------------------------------------------------------

Schedule 1

Specified Swap Agreements

Chaparral Energy, Inc

Proposed hedges to be monetized in December 2008

 

Oil Collars

    

Oil Swaps

    

Total Oil Volumes

          FLOOR                             

Reference Month

   Hedge
Volume
(bbls)    Sum of
Average
Notional
Price     

Reference Month

   Hedge
Volume
(bbls)    Sum of
Average
Notional
Price     

Reference Month

   Hedge
Volume
(bbls)

Jan-09 Total

   20,000    110.0000     

Jan-09 Total

   151,000    69.7019     

Jan-09 Total

   171,000                                   

Feb-09 Total

   20,000    110.0000     

Feb-09 Total

   142,000    68.6578     

Feb-09 Total

   162,000                                   

Mar-09 Total

   20,000    110.0000     

Mar-09 Total

   148,000    69.1292     

Mar-09 Total

   168,000                                   

Apr-09 Total

   20,000    110.0000     

Apr-09 Total

   145,000    68.6952     

Apr-09 Total

   165,000                                   

May-09 Total

   20,000    110.0000     

May-09 Total

   142,000    68.2514     

May-09 Total

   162,000                                   

Jun-09 Total

   20,000    110.0000     

Jun-09 Total

   142,000    68.1192     

Jun-09 Total

   162,000                                   

Grand Total

   120,000    110.0000     

Grand Total

   870,000    68.7712     

Grand Total

   990,000                                   

Gas Collars

    

Gas Swaps

    

Total Gas Volumes

Reference Month

   Hedge
Volume
(mmbtu)    Sum of
Average
Notional
Price     

Reference Month

   Hedge
Volume
(mmbtu)    Sum of
Average
Notional
Price     

Reference Month

   Hedge
Volume
(mmbtu)

Jan-09 Total

   330,000    10.0000     

Jan-09 Total

   550,000    9.2085     

Jan-09 Total

   880,000                                   

Feb-09 Total

   330,000    10.0000     

Feb-09 Total

   550,000    9.2154     

Feb-09 Total

   880,000                                   

Mar-09 Total

   330,000    10.0000     

Mar-09 Total

   550,000    8.9936     

Mar-09 Total

   880,000                                   

Apr-09 Total

   330,000    10.0000     

Apr-09 Total

   530,000    8.2521     

Apr-09 Total

   860,000                                   

May-09 Total

   330,000    10.0000     

May-09 Total

   530,000    8.2224     

May-09 Total

   860,000                                   

Jun-09 Total

   330,000    10.0000     

Jun-09 Total

   530,000    8.2856     

Jun-09 Total

   860,000                                   

Grand Total

   1,980,000    10.0000     

Grand Total

   3,240,000    8.7044     

Grand Total

   5,220,000