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Private E&P STACK/Cana Woodford Operator To IPO
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Bayou City Energy-backed Alta Mesa has filed a draft S1 (intent to go public) with the SEC. The company intends to use the funds raised from the offering to repay outstanding debts. The company has not said whether its financial backers will be selling any of its current shares during the IPO.
Alta Mesa has 100,000 net acres in the prolific STACK play in Kingfisher county, where the company operating 6 rigs and plans to grow its rig count to 8 by year end. Total Company production volumes in the first quarter of 2017 totaled 2.2 MMBOE, or an average of 24.7 MBOE per day. Production mix was 68% oil and natural gas liquids (80% oil, 20% liquids) for the first quarter 2017.
In November of 2016, Alta Mesa signed a drilling joint venture with Bayou City, where the company annouced it would…
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