Oil and Gas Exploration and Production Business
Listing Information
Oil and Gas Exploration and Production Business
Created: 09/18/2019
Category: Business Property > All Assets or Going Concerns > Oil & Gas Producers
Sale Location: Houston, Texas
Sale Date: Fri. Jan 3, 2020
Debtor's Attorney
1000 Main Street
Houston, TX 77002
(713) 226-6000
Case Title: Alta Mesa Resources, Inc. and Alta Mesa Holdings, LP
Court: Texas Southern Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of substantially all or any portion or combination of their assets (the “Debtor Assets” and together with the Non-Debtor Assets (defined below) the “Assets”) through one or more sales of the Debtor Assets and/or a combined sale of both the Debtor Assets and the Non-Debtor Assets.
The Debtor Assets
The Debtors are an independent energy company focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the eastern portion of the Anadarko Basin in Oklahoma. The Debtors operate an upstream oil and gas exploration and production business operated by Debtor Alta Mesa Holdings, LP (“AMH”) and its subsidiaries (such subsidiaries, together with Debtor AMH and Alta Mesa Holdings GP, LLC, the “AMH Debtors”). Certain of the Debtors’ non-Debtor affiliates operate a “midstream” oil and gas services business through Non-Debtor Kingfisher Midstream LLC, a subsidiary of Debtor AMR (“Kingfisher” and, together with its wholly-owned subsidiaries, the “Kingfisher Entities” or the “Non-Debtors”).
The Non-Debtor Assets
Kingfisher, which operates the midstream business, has natural gas gathering and processing, and crude oil gathering and storage assets located in the Anadarko Basin that generate revenue primarily through long-term, fee based contracts (including certain gathering agreements with Debtor Oklahoma Energy Acquisition LP (“Oklahoma Energy”), a subsidiary of AMH). In addition, in November 2018, a subsidiary of Kingfisher purchased produced water gathering pipelines, facilities, disposal wells, surface leases and easements from AMH and entered into a water gathering agreement with AMH. Certain of the Kingfisher assets are used in the Debtors’ oil and natural gas operations and are strategically positioned to provide similar services to other producers in the area.
Financial Overview
Sale Location
Houston, TX, 77002
Additional Details
- Auction Time - 10:00 a.m
- Sale Hearing: January 10, 2020
- Bid Deadline - November 26, 2019 at 5:00 p.m.
- Bid Deposit - 10% of the Purchase Price
- Qualified Bid for any Assets must exceed the Stalking Horse Bidder’s Bid by $2,500,000.00
- Each subsequent overbid at the Auction must exceed the prior high bid by $2,500,000.00
- Stalking Horse Deadline: December 31, 2019
- Sale Objection Deadline: December 30, 2019