Finance & Investing | Financial Trouble | Capital Markets
Alta Mesa on Shaky Financial Ground; Borrowing Base Cut, Nasdaq Noncompliance
Print
|
Alta Mesa Resources, Inc. has reported a cut to its borrowing base as well as received notification that it has fallen out of compliance with the Nasdaq Exchange.
Credit Facility Cut by $30MM
Alta Mesa had drawn substantially all of the remaining capacity under its senior secured revolving credit facility. The Credit Facility had a borrowing base of $370 million after the most recent borrowing base determination on April 1, 2019, which decreased the borrowing base by $30 million.
The cash held following the draw, approximately $86 million, is intended for general corporate purposes.
Alta Mesa has retained Perella Weinberg Partners and Tudor Pickering Holt & Co. as its financial advisor to assist with analyzing and considering financial alternatives.
Nasdaq Noncompliance Due to Late 10K Filing
Nasdaq has notified the Company on April 2, 2019 that it is not in compliance with NASDAQ Listing Rule 5250(c)(1) for continued listing due to the delay in filing its Annual Report on Form 10-K for 2018.
More Financial Trouble News
Silverbow Resources Board Adopts 'Poison Pill' Strategy
SilverBow Resources Inc.'s board has unanimously adopted a limited-duration stockholder rights plan (a so-called poison pill strategy) following "significant accumulations" of the company's outstanding common stock. Activist investor…
Hess Corp. Second Quarter 2022 Results
Hess Corp. reported its 2Q 2022 results. Hess reported net income of $667 million, or $2.15 per common share, in the second quarter of 2022, compared with a…
Basic Energy Services Files for Bankruptcy; Inks Stalking Horse Deals
Basic Energy Services has filed for bankruptcy. Concurrently, the company has entered into several deals to sell off its assets. The transactions are being undertaken as the “stalking…
Amplify Energy Regains Compliance with NYSE
Amplify Energy Corp. has received notice from the NYSE that it had regained compliance with the continued listing standards set forth in Item 802.01B of the NYSE Listed…
Report: Chesapeake Poised to Emerge from Bankruptcy
Chesapeake Energy Corp. is poised to emerge from bankruptcy after a lengthy trial period, according to a report by Reuters. Per the report, the company's bankruptcy plan was…
Mid-Continent News
Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%
The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…
A Quiet Capital Pattern Is Forming in North American Upstream — and Almost No One Is Talking About It
A handful of recent transactions and capital raises point to a subtle pattern in North American upstream—one that is easy to miss because each event, on its own,…
Dallas Fed Energy Survey: What Oil and Gas Executives Are Really Saying
The latest Dallas Fed Energy Survey shows a U.S. oil and gas industry that is not collapsing—but is clearly constrained. Executives are operating in a defensive posture, focused…
Amplify to Sell Oklahoma Assets for $92.5MM
Nov. 05, 2025 Amplify Energy announced it has entered into a definitive agreement to sell all of its interests in Oklahoma for a total contract price of $92.5…
BKV Closes $370MM Bedrock Barnett Acquisition
BKV Corporation (NYSE: BKV) closed its ~$370 million acquisition of Bedrock Production, LLC, acquiring Bedrock Energy Partners’ Barnett Shale assets in a deal that materially expands BKV’s scale…
Mid-Continent - Anadarko Basin News
New E&P Scores Capital; Heading To the MidCon Region
Company Overview 406 Energy, LLC is a newly formed, Houston-based upstream oil & gas development company launched in October 2025 with an initial equity commitment from NGP Natural…
Why Surface-Only Inventory Predictions Are a Fool’s Errand
Introduction The promise is seductive: a map covered in potential drill spots, colored by predicted “rock quality,” with hundreds or thousands of “remaining locations.” Many oil & gas…
From Hedge Funds to Supermajors: Everyone Wants Hub-Linked Gas
TotalEnergies has signed a deal to acquire a 49% non-operated interest in Continental Resources’ Anadarko Basin natural-gas assets in Oklahoma—low-cost, long-plateau rock tied into existing midstream and well…
Diversified Energy to Acquire Canvas Energy for $550MM
Diversified Energy is expanding its Oklahoma footprint with a sizeable bolt-on acquisition that management says will meaningfully increase cash flow and deepen operating density in the state. On…
Comstock to Acquire Assets from Ovation Energy For $62.5 Million
Comstock Resources agreed to acquire substantially all of the assets of Ovation Energy, L.P. for $62.5 million, expanding its producing footprint across multiple U.S. natural gas basins. The…