Chaparral Energy Inc. said April 20 its CFO, Scott Pittman, had resigned from the company, which is currently struggling with debt.

Pittman’s resignation, made on April 17, was “to pursue other interests” and not related to any disagreement with the company or any matters relating to its operations, policies or practices, according to a release from Chaparral.

Chaparral also said that its vice president of geoscience, Mark Ver Hoeve, also elected to retire on April 17.

The change in leadership comes about a month after the Oklahoma shale producer was reported to have hired financial advisers for advice on how to improve its balance sheet.

Chaparral has around $421 million of debt outstanding, according to a Reuters report citing Refinitiv Eikon data. The Oklahoma City-based company went through a bankruptcy process during the last oil price slump, emerging from Chapter 11 protection in March 2017.

Pittman had joined Chaparral in 2019 as its CFO. He had previously served as CFO at Ursa Resources Group and Aethon Energy Management.

Chaparral said intends to conduct a search to fill the vacancy in the CFO position. In the interim, Stephanie A. Carnes, Chaparral’s controller, has been temporarily assigned CFO duties. In addition, Patrick Graham, Chaparral’s senior director of corporate finance, will serve as the primary investor contact.

Reuters contributed to this article.

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