Reuters HOUSTON – A court-ordered sale of one-time shale high-flyer Alta Mesa Resources Inc fell through due to a lack of financing on Monday, according to court filings, a day when oil prices and shares of U.S. oil producers plummeted. Investors and banks have pulled back on financing shale after poor returns, and this year’s drop of about 40% in
Weatherford plans pre-packaged Chapter 11 By Richard Rostad, analyst, Oil & Gas 360 The Q4 2018 price crash is poised to claim several victims, as Weatherford (ticker: WFT) is filing Chapter 11 and two E&P companies are likely to announce bankruptcy in the coming days. Once valued over $25 billion, Weatherford was hit hard by the 2014 downturn. While many
From The Wall Street Journal Two years ago, investors handed veteran oilman Jim Hackett a $1 billion check and sent him to seek riches in shale drilling. Today, the company he founded with their money, Alta Mesa Resources Inc., has a market value of about $43 million and is teetering on financial ruin—one of the more spectacular failures met chasing the
Well spud to first oil shrinks by 31% Alta Mesa Resources (stock ticker: AMR) announced third quarter results today, showing net earnings of $7.1 million, or $0.04. The company produced an average of 33.4 MBOEPD in Q3, up over 30% from Q2, and averaged 36.8 MBOEPD in September. Kingfisher Midstream, Alta Mesa’s midstream subsidiary, is growing nearly as quickly. The
From The Wall Street Journal Shale drillers are ramping up production in the U.S. as oil prices rise, moving beyond the West Texas oil field that became the country’s drilling center. From Oklahoma to North Dakota, companies are increasing investment in oil fields that fell out of favor several years ago, as $70-a-barrel crude prices make fracking and horizontal drilling
Alta Mesa Resources, Inc. (ticker: AMR) and its wholly owned subsidiaries, Alta Mesa Holdings, LP (AMHLP) and Kingfisher Midstream, LLC, have released financial results, CapEx guidance and other updates. 2018 CapEx Alta Mesa’s total capital expenditures for 2018 are expected to range from $725 million to $800 million. Capital will be allocated primarily to Alta Mesa’s upstream STACK area, $550 million
ARM Energy Holdings LLC said that the company and its partners have sold Kingfisher Midstream, LLC to Silver Run Acquisition Corporation II, in exchange for an aggregate consideration of up to $1.55 billion. The transaction consideration is comprised of $800 million in cash, ~$550 million in Silver Run II stock and up to ~$200 million in additional Silver Run II
Stock will trade on Nasdaq: AMR, starting Feb. 12 Silver Run Acquisition Corporation II (ticker: SRUN) completed its business combination with Alta Mesa Holdings, LP and Kingfisher Midstream, LLC. Alta Mesa is an independent exploration and production company focused on the development and acquisition of unconventional oil and natural gas reserves in the Anadarko Basin. Kingfisher is a company engaged
Silver Run Acquisition Corporation II will have approximately $1.042 billion in its trust account to complete the business combination of Silver Run II, Alta Mesa Holdings, LP and Kingfisher Midstream, LLC. The new company will be called Alta Mesa Resources, Inc. No redemption back-stop was required. Silver Run II CEO James T. Hackett said, “We are very pleased by the
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
