Kingfisher Midstream Continues Transformation as Craig W. Collins Joins Leadership Team
09 Avril 2018 - 12:00PM
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 lweaver@altamesa.net
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