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Alta Mesa Bets Bulk of 2016 Capex on STACK; 3-5 Rigs
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Alta Mesa Holdings, LP announced its financial results for the fourth quarter and full year of 2015 and provided highlights of its recent operations.
2016 Plans: Capex: $115 million 95% of capex ($95 million) allocated to STACK The Company plans to operate three to five drilling rigs during 2016 targeting the Osage, Meramec and other zones with horizontal drilling. Remaining capital for Weeks Island asset (plans to utilize at least one workover rig during 2016, as well as one drilling rig for a portion of the year) 2016 Capital Expenditure OutlookThe Company's capital expenditure budget for 2016 is estimated to be $115 million as compared to capital expenditures of $224 million (excluding acquisitions) in 2015. Approximately $95 million, or 83% of 2016 capital expenditures will be…
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