On September 11, 2019, Alta Mesa Resources, Inc. and Alta Mesa Holdings, LP (collectively “AMR”) announced that AMR and certain of its subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. This process is expected to significantly reduce AMR’s outstanding indebtedness while allowing AMR to continue production and midstream operations, with the goal of better positioning AMR for long-term success. These filings only pertain to AMR and its subsidiaries in the upstream segment. AMR’s midstream subsidiaries, including Kingfisher Midstream, LLC, are not part of the bankruptcy filing. Our upstream production and midstream operations will continue as we progress through the bankruptcy proceedings.
This Chapter 11 restructuring process will allow AMR to reorganize its capital structure, which will be a critical step towards best positioning our company financially and operationally in the future. AMR has filed a number of customary first day motions seeking court authorization to continue to support its upstream production and midstream operations during the court-supervised process, including the continued payment of employee salaries and benefits.
For additional information and documentation related to the AMR restructuring, please visit the Prime Clerk link: http://cases.primeclerk.com/altamesa or call 877.467.8547.