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Alta Mesa Focusing on Eagle Ford and Woodbine Drilling

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Eagle Ford Shale:

Alta Mesa's Eagle Ford Shale assets are principally operated by Murphy Oil in the oil and liquids-rich window of the play in Karnes County. Murphy is currently operating three drilling rigs on our joint acreage. Alta Mesa's reserves and daily production have grown significantly over the past year in this area. At the end of the first quarter, the Company had working interests in 27 producing wells and overriding royalty interests in three additional wells. The total number of proposed wells in the program could increase depending on decisions for downspacing. The crude sold from this field currently receives an average of $6 to $9 per barrel premium over the West Texas Intermediate index price. Lease operating costs continue to show improvement as a result of the…

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