HOUSTON, Jan. 09, 2017 (GLOBE NEWSWIRE) — Alta Mesa Holdings, LP announced that it acquired additional working interest in 24 Company operated STACK wells, increasing production by over 4,000 BOE per day. The acquisition of the working interest in these wells is expected to contribute positively to the Company’s overall production, EBITDAX and reserves in 2017. The 24 wells were drilled and completed during 2016 under the terms of a Joint Development Agreement entered into by Alta Mesa and BCE-STACK Development LLC, an affiliate of Bayou City Energy Management, LLC, a private equity firm focused on investments in the North American upstream oil and gas sector. Additional details related to this transaction can be found in Alta Mesa’s associated Form 8-K filed with the Securities and Exchange Commission.
Alta Mesa Holdings, LP is a privately held company engaged primarily in onshore oil and natural gas acquisition, exploitation, exploration and production whose focus is to maximize the profitability of our assets in a safe and environmentally sound manner. We seek to maintain a portfolio of lower risk properties in plays with known resources where we identify a large inventory of lower risk drilling, development, and enhanced recovery and exploitation opportunities. We maximize the profitability of our assets by focusing on sound engineering, enhanced geological techniques including 3-D seismic analysis, and proven drilling, stimulation, completion, and production methods. Alta Mesa Holdings, LP is headquartered in Houston, Texas.