Alta Mesa Adds Eighth STACK Rig as Ops Accelerate; Moves from Derisk to Development

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| Friday,June 22,2018

As part of Shale Experts' June update for the SCOOP/STACK plays, we took a look at Alta Mesa's latest activity in the play.

The company recently added its eighth rig and plans to drill ~175 wells in the play in 2018 - a huge increase in activity compared to the prior year.

- 2018 Budget: $725-800 million (up +118% from $350 million spent in 2017)

- 2018 Production: 33-38 MBOEPD (up +70% YOY at the midpoint)

Currently, Alta Mesa is transforming from derisking its midcontinent properties to development with 1,500' bench spacing.

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