On August 16, 2010, approximately 1645 central daylight time, a Cirrus SR22, N513CM, registered to and operated by Old Well Aviation LLC, Cincinnati, Ohio, was substantially damaged when the engine lost power and the pilot deployed the ballistic parachute 4 miles northwest of Idabel, Oklahoma. Visual meteorological conditions (VMC) prevailed at the time of the accident. The personal flight was being conducted under the provisions of 14 Code of Federal Regulations (CFR) Part 91 without a flight plan. The pilot and passenger on board the airplane were not injured. The cross-country flight originated in Dallas, Texas, and was en route to Cincinnati, Ohio. The pilot said they had flown from Cincinnati (LUK), Ohio, to Jackson (MKL), Tennessee, then to Dallas (ADS), Texas, the day before the accident, arriving approximately 1620. The airplane performed well and was fueled to capacity at each location. The next day, the pilot and his passenger arrived at the airport approximately 1610. The preflight was "routine." The pilot confirmed the airplane had been fueled to capacity, the fuel tanks were sumped, and he added 1 quart of oil to the 6 quarts that were in the crankcase. He departed ADS's runway 33. He said the takeoff and climbout were normal, and oil pressure was within normal limits. After about 45 to 60 minutes into the flight, "there was a change in [propeller] pitch from the [engine] noise, not like a change in RPM, but rather like a wind shift." Later, he said it was an "explosion." Shortly thereafter, the plane "shuddered and bucked and, popped up in the air." The pilot said he thought the airplane might be coming apart. There was a smell in the cockpit at about the same time. The cabin became very hot. The air conditioner was operating, but was not producing cold air. The pilot said he was positive the fuel tank did not run dry because he switched back and forth between tanks during the flight. He declared an emergency and was vectored to the nearest airport. He established the 90-knot best glide speed and noticed the engine readout was 28 percent. Shortly thereafter it dropped to zero and he realized he did not have any power. When he realized he wasn’t going to be able to glide to the airport, he deployed the parachute. There were three impacts: the first when the chute deployed, the second when the chute filled with air and the airplane swung like a pendulum, and the third when the airplane impacted the ground. The airplane was equipped with an Avidyne Entegra EXP5000 Primary Flight Display (PFD) and an EX5000 Multi-Function Display (MFD) capable of recording flight data. The units were removed from the airplane and sent to the National Transportation Safety Board’s Vehicle Recorder Laboratory for readout. According to the downloaded data, the airplane departed at approximately 1426 CDT. The airplane climbed to 3,000 feet, then to 9,000 feet, and finally to 11,000 feet at 1456 CDT. At 1517:24, there was a sharp reduction in exhaust gas temperature (EGT), dropping from over 500 degrees F. to 0 in one sample. The valid range of the EGT sensor is from 500 to 1650 degrees Fahrenheit (F). There was also a reduction in RPM, from 2,800 RPM to approximately 2,000 RPM. Fuel flow decreased from approximately 12 gallons per hour to less than 1 gallon per hour at the same time. The airplane began descending at a rate between 1,000 and 2,000 feet per minute and at an indicated airspeed fluctuating between 100 and 130 knots. At 1524:24, the airplane experienced a sharp negative longitudinal acceleration approximately 800 feet pressure altitude. The MFD data end at 1524:36 and the PFD data ended at 1525:10. At 1427:30 CDT, alternator 1 current began fluctuating between approximately 19 and 30 amps until about 1438:30. At 1442, alternator 1 current began fluctuating between 19 and 30 amps again, but at a slower rate. The airplane was recovered and taken to Air Salvage of Dallas (Texas) where, on September 1, 2010, it was functionally tested. The engine was started and operated at various power settings, including full power. No anomalies were noted.