Alta Mesa Resources, Inc. (ticker: AMR) produced 24,000 BOEPD in Q1 2018 and exited the quarter with average net production of 25,800 BOEPD in March. Overall, total production for the first quarter of 2018 was 2,162 MBOE. According to Alta Mesa, production for 2018 is expected to average between 33 MBOEPD and 38 MBOEPD.
The company added rig number eight in May and completed 28 horizontal wells in the Mississippian-age Meramec/Osage section.
Bayou City Energy and Alta Mesa funded 15 of the wells through a DrillCo. The company said it plans to maintain eight rigs and that 170-180 gross wells are scheduled for 2018.
AMR Development, May 2018
“We continue to ramp up activity in our STACK play with a focus on multi-well pad development,” CEO Hal Chappelle said. “We have a balance sheet that is capable of supporting our growth agenda and an integrated platform with Kingfisher Midstream to de-risk upstream growth.”
Cimarron Express Pipeline, LLC is a new 50/50 partnership between Kingfisher Midstream, LLC and Blueknight Energy Partners, L.P. The partners plan to build and operate a new 16-inch, 65-mile crude oil pipeline extending from northeastern Kingfisher County, Oklahoma, to Blueknight’s Cushing, Oklahoma, crude oil terminal.
Cimarron Express Pipeline
The Cimarron Express Pipeline will provide direct market access at Cushing for STACK producers and will have an initial capacity of 90,000 BPD, expandable to over 175,000 barrels per day, and is expected to be completed in mid-2019.
The 200 MMcf/d natural gas plant expansion at Kingfisher was placed in service in April, Alta Mesa said. Kingfisher’s operated inlet capacity is now 260 MMcf/d.
