Kingfisher Midstream Upsizes Revolving Credit Facility

HOUSTON, May 31, 2018 (GLOBE NEWSWIRE) -- Alta Mesa Resources Inc. (NASDAQ:AMR) (“Alta Mesa” or the “Company”) announced that its wholly owned subsidiary, Kingfisher Midstream, LLC (“Kingfisher”) has completed an expansion of its senior credit facility from $200 million to $300 million in commitments from a syndicate of banks. These funds support the ongoing expansion of Kingfisher’s crude gathering and natural gas gathering and processing systems in the STACK play area of the Anadarko Basin in Oklahoma.

“The 50% increase in the Credit Facility, further strengthens our financial flexibility to fund our high-quality growth projects and reaffirms the confidence that our hand-picked bank group has in our financial and operational plans,” stated Kingfisher CEO, James Hackett. “We value the support of our lending group in helping us to prudently execute our plans and deliver on our strategic goal to be a best-in-class midstream partner to our producer customers.”

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 our strategy, future operations, prospects, plans and objectives of management are forward-looking statements. These forward-looking statements are based on our current expectations and assumptions about future events and 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, including those risks and uncertainties set forth in our Form 10-K for the year ended December 31, 2017. Except as otherwise required by applicable law, Alta Mesa Resources disclaims any duty to update any forward-looking statements.

FOR MORE INFORMATION CONTACT: Lance L. Weaver (281) 943-5597 lweaver@altamesa.net