May 26, 2017 2:04 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Alta Mesa Holdings, LP

Company Overview

Alta Mesa Holdings, LP engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. The company primarily holds interests in the Sooner Trend Anadarko Basin Canadian and Kingfisher County field located in Oklahoma; and Weeks Island Area that comprise Weeks Island and Cote Blanche Island fields located in Iberia and St. Mary Parish, Louisiana. As of December 31, 2016, it had total proved oil and natural gas reserves of approximately 138.8 MMBOE. The company was founded in 1987 and is headquartered in Houston, Texas. Alta Mesa Holdings, LP is a subsidiary of Alta Mesa Investment Holdings, Inc.

15021 Katy Freeway

Suite 400

Houston, TX 77094

United States

Founded in 1987

241 Employees

Phone:

281-530-0991

Key Executives for Alta Mesa Holdings, LP

Chief Executive Officer of Alta Mesa Holdings GP LLC, President of Alta Mesa Holdings GP LLC and Director of Alta Mesa Holdings GP LLC
Age: 59
Founder of Alta Mesa Holdings GP LLC, Chairman of Alta Mesa Holdings GP LLC, Chief Operating Officer of Alta Mesa Holdings GP LLC and Vice President of Engineering of Alta Mesa Holdings GP LLC
Age: 59
Chief Financial Officer of Alta Mesa Holdings GP LLC, Vice President of Alta Mesa Holdings GP LLC and Director of Alta Mesa Holdings GP LLC
Age: 60
Chief Technical Officer of Alta Mesa Holdings GP LLC, Vice President of Alta Mesa Holdings GP LLC and Director of Alta Mesa Holdings GP LLC
Age: 52
Chief Accounting Officer of Alta Mesa Holdings GP LLC and Vice President of Alta Mesa Holdings GP LLC
Compensation as of Fiscal Year 2016.

Alta Mesa Holdings, LP Key Developments

Alta Mesa Holdings, LP Reports Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended of March 31, 2017; Provides Earnings Guidance for the Second Quarter of 2017

Alta Mesa Holdings, LP reported unaudited consolidated earnings and operating results for the first quarter ended of March 31, 2017. For the quarter, the company’s net income was $24.9 million, compared to a net loss of $24.2 million for the first quarter of 2016. The difference in net income/loss between the two periods was primarily due to higher revenue and lower interest expense and general and administrative expense, partially offset by higher marketing and transportation expense and exploration expense. Adjusted earnings before interest, income taxes, depreciation, depletion and amortization and exploration costs (Adjusted EBITDAX) was $40.1 million compared to $31.1 million for the first quarter of 2016, an increase of 29%. The change in Adjusted EBITDAX between the two periods is, in part, a result of higher production and commodity prices, lower interest expense and lower general and administrative expense, partially offset by an increase in marketing and transportation expense. Oil, natural gas and natural gas liquids revenues totaled $79.6 million compared to $38.0 million in the first quarter of 2016. The change in revenues between the two periods was due primarily to the increase in commodity prices and an increase in oil, natural gas and natural gas liquids production. Income from operations was $37,291,000 compared to loss from operations of $7,967,000 a year ago. Income before income tax was $25,200,000 compared to loss before income tax of $24,156,000 a year ago. Net cash used in operating activities was $4,096,000 compared to $101,785,000 a year ago. Capital expenditures for property and equipment was $60,589,000 compared to $44,435,000 a year ago. For the quarter, the company’s total company production volumes in the first quarter of 2017 totaled 2.2 MMBOE, or an average of 24.7 MBOE per day, compared to 1.7 MMBOE or 18.3 MBOE per day in the first quarter of 2016. The increase in production is primarily a result of the continued successful development of Alta Mesa’s STACK play in Kingfisher County, Oklahoma. For the second quarter, the company’s Adjusted EBITDAX is expected to range between $37 and $40 million. Production is expected to average between 24 and 26 MBOE per day.

Alta Mesa Holdings, LP to Report Q1, 2017 Results on May 11, 2017

Alta Mesa Holdings, LP announced that they will report Q1, 2017 results at 2:00 PM, Central Standard Time on May 11, 2017

Alta Mesa Holdings, LP, Q1 2017 Earnings Call, May 11, 2017

Alta Mesa Holdings, LP, Q1 2017 Earnings Call, May 11, 2017

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