HOUSTON, Feb. 5, 2018 /PRNewswire/ -- Silver Run
Acquisition Corporation II ("Silver Run II") (NASDAQ: SRUN, SRUNU,
SRUNW) today announced that, in connection with its proposed
business combination with Alta Mesa Holdings, LP ("Alta Mesa") and Kingfisher Midstream, LLC
("Kingfisher"), it will have approximately $1,042 million in its trust account to complete
the business combination. No redemption back-stop was
required.
James T. Hackett, Chief Executive
Officer of Silver Run II, commented, "We are very pleased by the
support from the shareholders of Silver Run II. The balance sheet
of Alta Mesa Resources, Inc. will be strong and consistent with our
announcement of the transaction last year. We are excited to
take the final step toward closing the transaction on February 9, 2018 and beginning operations as Alta
Mesa Resources, Inc."
The special meeting of Silver Run II's stockholders relating to
the business combination will be held at 9:00 a.m., New
York time, on February 6, 2018
at the offices of Latham & Watkins LLP, 885 3rd Avenue,
New York, New York 10022. Silver
Run II expects the business combination to close on February 9, 2018, subject to the satisfaction of
customary closing conditions, including the approval of the
business combination by Silver Run II's stockholders at the special
meeting.
About Silver Run II
Silver Run II is an energy-focused special purpose acquisition
company formed by an affiliate of Riverstone Holdings LLC
("Riverstone") for the purpose of entering into a merger, capital
stock exchange, asset acquisition, stock purchase, reorganization
or similar business combination with one or more businesses.
Silver Run II's strategy is to identify, acquire and, after its
business combination, build a company in the energy industry that
complements the experience of its management team and can benefit
from their operational experience and expertise.
About Alta Mesa
Alta Mesa is an independent
exploration and production company focused on the development and
acquisition of unconventional oil and natural gas reserves in the
Anadarko Basin.
About Kingfisher
Kingfisher was formed by HPS Investment Partners, LLC ("HPS")
and ARM Energy Holdings, LLC ("ARM") to provide certain midstream
energy services, including crude oil and gas gathering, processing
and marketing to producers of natural gas, natural gas liquids,
crude oil and condensate in the STACK Play region of Oklahoma.
About ARM
ARM is a private Delaware
limited liability company. ARM is a producer services company
operating in the physical marketing, trading and midstream
sectors. Additionally, ARM provides hedging advisory services
to over 130 upstream companies.
About Riverstone
Riverstone is an energy and power-focused private investment
firm founded in 2000 by David M.
Leuschen and Pierre F. Lapeyre,
Jr. with over $37 billion of
capital raised. Riverstone conducts buyout and growth capital
investments in the exploration & production, midstream,
oilfield services, power, and renewable sectors of the energy
industry. With offices in New
York, London, Houston, and Mexico
City, Riverstone has committed over $36 billion to more than 130 investments in
North America, Latin America, Europe, Africa, Asia,
and Australia.
About HPS
HPS is a leading global investment firm with a focus on
non-investment grade credit. Established in 2007, HPS has
approximately 100 investment professionals and over 200 total
employees, and is headquartered in New
York with ten additional offices globally. HPS was
originally formed as a unit of Highbridge Capital Management, LLC
("Highbridge"), a subsidiary of
J.P. Morgan Asset Management ("J.P. Morgan"), and formerly known as
Highbridge Principal Strategies, LLC. In March 2016, the principals of HPS acquired the
firm from J.P. Morgan, which retained Highbridge's hedge fund strategies. As
of January 2018, HPS had
approximately $44 billion of assets
under management and since inception has invested over $4 billion in the energy and power
industries.
About Bayou City Energy Management LLC
Bayou City Energy Management LLC ("BCE") is a private equity
firm founded in 2015 to focus on making investments in the North
American upstream oil and gas sector. BCE targets privately
negotiated investments through two complementary strategies:
providing buyout and growth equity capital for operators with
current production and exploitable upside, and partnering with
operators to provide dedicated drilling capital in off-balance
sheet structures.
Forward-Looking Statements
This communication includes certain statements that may
constitute "forward-looking statements" for purposes of the federal
securities laws. Forward-looking statements include, but are not
limited to, statements that refer to projections, forecasts or
other characterizations of future events or circumstances,
including any underlying assumptions. The words "anticipate,"
"believe," "continue," "could," "estimate," "expect," "intends,"
"may," "might," "plan," "possible," "potential," "predict,"
"project," "should," "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements may include, for example, statements about: the parties'
ability to effect the business combination; the benefits of the
business combination; the future financial performance of Silver
Run II following the business combination; and changes in
Alta Mesa's and Kingfisher's
strategy, future operations, financial position, estimated
revenues, and losses, projected costs, prospects, plans and
objectives of management. These forward-looking statements
are based on information available as of the date of this press
release, and current expectations, forecasts and assumptions, and
involve a number of judgments, risks and uncertainties.
Accordingly, forward-looking statements should not be relied upon
as representing the parties' views as of any subsequent date, and
Silver Run II, Alta Mesa and
Kingfisher do not undertake any obligation to update
forward-looking statements to reflect events or circumstances after
the date they were made, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws. You should not place undue
reliance on these forward-looking statements.
No Offer or Solicitation
This communication is for informational purposes only and shall
not constitute an offer to sell or the solicitation of an offer to
buy any securities pursuant to the proposed business combination
and other transactions described herein or otherwise, nor shall
there be any sale of securities in any jurisdiction in which the
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction. No offer of securities shall be made except by means
of a prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended.
Important Information For Investors and Stockholders
In connection with the proposed business combination, Silver Run
II has filed a definitive proxy statement with the Securities and
Exchange Commission (the "SEC") on January
19, 2018, and has mailed such definitive proxy statement to
Silver Run II stockholders as of January 22,
2018, the record date for the special meeting. Silver Run II
stockholders and other interested persons are advised to read the
definitive proxy statement in connection with Silver Run II's
solicitation of proxies for the special meeting of stockholders to
be held to approve the proposed business combination because the
definitive proxy statement contains important information about the
proposed business combination and related matters. Stockholders may
also be able to obtain copies of the definitive proxy statement,
without charge, at the SEC's website at www.sec.gov.
Participants in the Solicitation
Silver Run II and its directors and officers may be deemed
participants in the solicitation of proxies of Silver Run II
stockholders in connection with the proposed business combination.
Silver Run II stockholders and other interested persons may obtain,
without charge, more detailed information regarding the directors
and officers of Silver Run II in its Registration Statement on Form
S-1 initially filed with the SEC on March 2,
2017. Additional information is available in the definitive
proxy statement, which was filed with the SEC on January 19, 2018.
Contact:
Silver Run Acquisition Corporation II
Jeffrey Taufield / Daniel
Yunger
Kekst
(212) 521-4800
Alta Mesa Holdings, LP
Lance L. Weaver
(281) 943-5597
lweaver@altamesa.net
View original
content:http://www.prnewswire.com/news-releases/silver-run-acquisition-corporation-ii-announces-approximately-1042-million-in-trust-to-complete-business-combination-300593290.html
SOURCE Silver Run Acquisition Corporation II; Alta Mesa
Holdings, LP