Riverstone Holdings' Silver Run Acquisition to Merge With Alta Mesa, Kingfisher Midstream
August 16 2017 - 8:28PM
Dow Jones News
By Maria Armental
Riverstone Holdings LLC's Silver Run Acquisition Corp. II is
merging with Alta Mesa Holdings LP and Kingfisher Midstream LLC --
a deal that could lead to a midstream IPO, the company said
Wednesday.
The combined company, which would have a market capitalization
of about $3.8 billion, would be named Alta Mesa Resources Inc. and
trade on the Nasdaq Stock Market under the ticker AMR.
"The combination of Alta Mesa and Kingfisher is a perfect
strategic match for our desired integrated platform, said in a
statement James T. Hackett, chairman and chief executive officer of
Silver Run II who had transformed Anadarko Petroleum Corp. from an
oil patch also-ran into one of the world's largest energy explorers
before retiring from the firm in 2013.
Under the terms of the deal, expected to close in the fourth
quarter, Mr. Hackett would become executive chairman of Alta Mesa
Resources while Alta Mesa's Harlan H. Chappelle, Michael E. Ellis,
and Michael A. McCabe would continue as chief executive officer,
chief operating officer, and chief financial officer of the combine
company.
Financial terms weren't disclosed.
Alta Mesa, a pure-play exploration and production company, is
one of the largest active operators in the Anadarko Basin Stack
play.
Kingfisher Midstream, formed by HPS Investment Partners LLC and
ARM Energy Holdings LLC, is a private midstream company with a
leading position in the Anadarko Basin Stack play. Alta Mesa serves
as its anchor producer.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
August 16, 2017 20:13 ET (00:13 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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