0.1650 +0.01 (6.45%)
After hours: 5:57PM EDT
|Bid||0.1550 x 1300|
|Ask||0.1659 x 1000|
|Day's Range||0.1530 - 0.1788|
|52 Week Range||0.1120 - 7.3900|
|Beta (3Y Monthly)||1.32|
|PE Ratio (TTM)||5.34|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Houston-based Alta Mesa Resources Inc. (NYSE: AMR) may have added a federal investigation to its list of problems, but analysts still think its main issue is a lack of liquidity. Alta Mesa had announced in April that it had drawn substantially all of the capacity under its $370 million revolving credit facility. The company has $144 million in total liquidity left to it, of which $110 is in cash, according to a May 17 financial report.
Houston-based oil and gas company Alta Mesa Resources Inc. (Nasdaq: AMR), which is led by former Anadarko CEO James Hackett, is facing more financial struggles. Alta Mesa Resources disclosed last week that it was not able to file its first-quarter 2019 report with the SEC within the required time period, according to a May 13 SEC filing. The latest delay comes after the company previously delayed filing its full-year earnings report for 2018.
Independent energy company Alta Mesa Resources, Inc. has cut more staff at its Houston facility, just one week after receiving a delisting warning from NASDAQ.
Update: After this story was published on April 16, the Texas Workforce Commission released a letter from Alta Mesa about more jobs that the company has cut. Alta Mesa cut an additional 13 jobs at its headquarters, 15021 Katy Freeway, suite 400, according to the Worker Adjustment and Retraining Notification Act letter. Houston-based oil and gas company Alta Mesa Resources Inc. (Nasdaq: AMR), which is led by former Anadarko CEO James Hackett, disclosed several financial updates last week.
“The company has been diligent in reducing activity levels and taking the initial steps to right-size the cost structure for the current commodity environment and business outlook.”
When the company announced the resignation of two other C-suite officers in December, it said it was searching for a new CFO, as well.
Energy companies in Texas are heading into the holidays after something of a grim quarter for oil prices. The price decline since the start of the period is similar in magnitude to the one that took place in the fourth quarter of 2014, which preceded a years-long downturn, according to an Energy Information Administration report Dec.
The former CEO of Anadarko Petroleum Corp. has been named interim CEO of the energy company he helped form earlier this year through a combination with his blank-check company.
Oil and gas producers are moving beyond the Permian Basin in West Texas as crude oil prices rise and the commodity glut in the Permian Basin continues to mount. For reference, the STACK play is a geographic area located in the Anadarko Basin area of Oklahoma, which it stands for Sooner Trend Anadarko, Canadian and Kingfisher, which in turns means that the geological formation is located in the Anadarko basin, mainly located across the Canadian and Kingfisher counties in Oklahoma.
Alta Mesa (AMR) has witnessed a significant price decline in the past four weeks, and is seeing negative earnings estimate revisions as well.
The preparations came as Riverstone, the world's largest private equity investor in energy companies and a prolific financier of the U.S. shale-drilling boom, has been seeking to recover from some poor investments in the oil patch.
Exploration and production company Alta Mesa Resources Inc (NASDAQ: AMR ) reported Tuesday with disappointing second-quarter results that sent shares sharply lower . The Analyst Imperial Capital analyst ...