HOUSTON, April 09, 2018 (GLOBE NEWSWIRE) — Alta Mesa Resources, Inc. (NASDAQ:AMR) (“Alta Mesa” or the “Company”) today announced that Craig W. Collins has joined the Company as Vice President and Chief Operating Officer-Midstream. Mr. Collins will also be Chief Operating Officer of Kingfisher Midstream, LLC.
Mr. Collins joins the Company after 15 years with Anadarko Petroleum and Western Gas Partners where he served as the Senior Vice President and Chief Operating Officer of Western Gas Partners. He held multiple midstream leadership roles at Anadarko Petroleum with responsibility for its commercial and engineering functions, and was instrumental in establishing industry-leading infrastructure positions in the Eagle Ford shale, Delaware basin, and DJ basin, both through acquisitions and organic growth. Also, while at Anadarko, he held positions of increasing responsibility in Treasury and Corporate Development. Mr. Collins holds a Bachelor of Science in Chemical Engineering from Texas A&M University and a Master of Business Administration from the Jones Graduate School of Management at Rice University.
Hal Chappelle, Alta Mesa President and Chief Executive Officer stated: “Since the closing of our business combination with Kingfisher Midstream two months ago, we have accelerated the transition of midstream operations, and we believe Craig brings best-in-class capabilities to lead Kingfisher Midstream in delivering quality service to a growing producer base.”
Alta Mesa Executive Chairman, James Hackett stated: “We could not be more excited to have Craig join our executive team as he brings extensive operational experience and deep knowledge of the midstream sector. As President and Chief Executive Officer of Kingfisher Midstream, I look forward to working alongside Craig to grow the value of our midstream operations in the STACK.”
Kingfisher Midstream, LLC is a subsidiary of Alta Mesa, that provides midstream energy services, including crude oil and gas gathering, processing and marketing to producers in the STACK play region. Alta Mesa Resources, Inc. is an independent energy company focused on the development and acquisition of unconventional oil and natural gas reserves in the Anadarko Basin in Oklahoma.
Safe Harbor Statement and Disclaimer
The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Alta Mesa Resources’ strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words “could”, “should”, “will”, “may”, “believe”, “anticipate”, “intend”, “estimate”, “expect”, “project,” the negative of such terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Alta Mesa Resources’ current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Alta Mesa Resources’ cautions you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond its control, incident to the exploration for and development and production, gathering and sale of oil, natural gas, and natural gas liquids. These risks include, but are not limited to: commodity price volatility, low prices for oil, natural gas and/or natural gas liquids, global economic conditions, inflation, increased operating costs, lack of availability of drilling and production equipment supplies, services and qualified personnel, processing volumes and pipeline throughput, uncertainties related to new technologies, geographical concentration of operations of our subsidiaries Alta Mesa Holdings, LP (“Alta Mesa”) and Kingfisher Midstream, LLC (“Kingfisher”), environmental risks, weather risks, security risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating oil and natural gas reserves and in projecting future rates of production, reductions in cash flow, lack of access to capital, Alta Mesa Resources’ ability to satisfy future cash obligations, restrictions in existing or future debt agreements of Alta Mesa or Kingfisher, the timing of development expenditures, managing growth and integration of acquisitions, failure to realize expected value creation from property acquisitions, title defects and limited control over non-operated properties, the Company’s ability to complete an initial public offering of the Kingfisher midstream business and the other risks described in the Company’s filings with the SEC. Reserve engineering is a process of estimating underground accumulations of oil and natural gas that cannot be measured in an exact way. The accuracy of any reserve estimate depends on the quality of available data, the interpretation of such data and price and cost assumptions made by reservoir engineers. Specifically, future prices received for production and costs may vary, perhaps significantly, from the prices and costs assumed for purposes of these estimates. Sustained lower prices will cause the twelve-month weighted average price to decrease over time as the lower prices are reflected in the average price, which may result in the estimated quantities and present values of Alta Mesa’s reserves being reduced. In addition, the results of drilling, testing and production activities may justify revisions of estimates that were made previously. If significant, such revisions would change the schedule of any further production and development drilling. Accordingly, reserve estimates may differ significantly from the quantities of oil and natural gas that are ultimately recovered. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, Alta Mesa Resources’ actual results and plans could differ materially from those expressed in any forward-looking statements. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Alta Mesa Resources may issue. Except as otherwise required by applicable law, Alta Mesa Resources disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
FOR MORE INFORMATION CONTACT: Lance L. Weaver (281) 943-5597 [email protected]