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September 05, 2015 3:02 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Alta Mesa Holdings, LP

Company Overview

Alta Mesa Holdings, LP engages in the acquisition, exploitation, exploration, and production of onshore oil and natural gas properties in the United States. The company holds interests in the Sooner Trend fields located in Oklahoma; Weeks Island field located in Iberia Parish, Louisiana; and Eagleville field located in Karnes County, Texas. As of December 31, 2014, it had total proved oil and natural gas reserves of approximately 56.9 MMBOE. The company was founded in 1987 and is headquartered in Houston, Texas.

15021 Katy Freeway

Suite 400

Houston, TX 77094

United States

Founded in 1987

225 Employees

Phone:

281-530-0991

Key Executives for Alta Mesa Holdings, LP

Chief Executive Officer, President and Director
Age: 58
Founder, Chairman, Chief Operating Officer and Vice President of Engineering
Age: 58
Chief Financial Officer, Vice President and Director
Age: 59
Vice President of Exploration
Chief Accounting Officer
Compensation as of Fiscal Year 2015.

Alta Mesa Holdings, LP Key Developments

Alta Mesa Holdings, LP Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months and Operating Results for the Second Quarter Ended June 30, 2015; Provides Earnings and Operating Guidance for the Third Quarter of 2015; Reports Impairment Expenses for the Second Quarter of 2015; Provides CapEx Guidance for the Third Quarter and Fourth Quarter of 2015

Alta Mesa Holdings, LP announced unaudited consolidated earnings results for the second quarter and six months and operating results for the second quarter ended June 30, 2015. For the quarter, the company reported total operating Revenue was $71.755 million against $115.590 million a year ago. Loss from operations was $23.881 million against $25.186 million a year ago. Loss before state income taxes was $38.933 million against $38.812 million a year ago. Net loss was $39.51 million against $38.812 million a year ago. The difference in net loss between the two periods is primarily due to lower realized revenue as a result of lower commodity prices, partially offset by lower lease operating expenses, impairment expense and general and administrative expense. Adjusted EBITDAX was $65.098 million against $71.746 million a year ago. EBITDAX for the quarter was $65 million down from $114 million in second quarter of 2014. For the six months, the company reported total operating Revenue was $132.3 million against $219.02 million a year ago. Loss from operations was $118.96 million against income of $46.27 million a year ago. Loss before state income taxes was $148.14 million against income of $18.36 million a year ago. Net loss was $148.72 million against net income of $18.08 million a year ago. Net cash provided by operating activities was $107.935 million against $88.667 million a year ago. Capital expenditures for property and equipment were $141.806 million against $165.165 million a year ago. Production volumes for the second quarter of 2015 totaled 1.7 MMBOE, or an average of approximately 19,000 BOE per day, compared to 1.7 MMBOE or approximately 18,400 BOE per day in the second quarter of 2014. Production for the second quarter is within the previously provided guidance for the second quarter of 2015 of 19,000 to 21,000 BOE per day. The company's total production mix was 71% oil and natural gas liquids (86% oil, 14% liquids) for the second quarter 2015, which is up from 62% for the same quarter of 2014. Production for the second quarter of 2015 in Sooner Trend averaged approximately 8,500 BOE per day, up approximately 85% compared to 4,600 BOE per day in the second quarter of 2014. For the second quarter, impairment expense was $4.311 million against $18.300 million a year ago. Adjusted EBITDAX for the third quarter of 2015 is expected to range between $42 and $46 million. Production for the third quarter of 2015 is expected to average between 20,500 to 22,500 BOE per day. The company expects $50 million of CapEx in third and fourth quarter.

Alta Mesa Holdings, LP to Report Q2, 2015 Results on Aug 13, 2015

Alta Mesa Holdings, LP announced that they will report Q2, 2015 results at 3:00 PM, US Eastern Standard Time on Aug 13, 2015

Alta Mesa Holdings, LP, Q2 2015 Earnings Call, Aug 13, 2015

Alta Mesa Holdings, LP, Q2 2015 Earnings Call, Aug 13, 2015

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