One-Page Deal Sheet
Alta Mesa, Bayou City Form STACK DrillCo; 40 Well JDA
Bayou City Energy Management LLC Alta Mesa Resources, Inc
Announced Date
January 19,2016
Effective Date
January 13,2016
Transaction Type
JV - DrillCo
Enterprise Value (EV)($MM)
128
Asset/Basin:
{"Anadarko Basin",STACK}
Location
Region
Mid-Continent - Anadarko Basin
Country
United States
State
Oklahoma
County
Kingfisher
Play
Transaction Details: Require Private Equity Subscription
Bayou City Energy affiliate, BCE-STACK Development LLC, has entered into a Joint Development Agreement with Oklahoma Energy Acquisitions LP, a wholly owned subsidiary of Alta Mesa Holdings, LP, to finance the drilling of joint wells on the Company's acreage in the core of the STACK play in Kingfisher County, Oklahoma.
Under the JDA, BCE committed to fund 100% of the Company's working interest share up to the maximum of an average $3.2 million in D&C costs per well for any tranche (totaling ~$128 million for the 40 HZ wells planned (see below)).
The drilling program initially calls for the…
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