Alta Mesa Announces Leadership Transition
December 20 2018 - 4:05PM
Alta Mesa Resources, Inc. (NASDAQ: AMR, “Alta Mesa Resources” or
the “Company”) today announced the resignations of Harlan H.
Chappelle, President and Chief Executive Officer, and Michael E.
Ellis, Vice President and Chief Operating Officer—Upstream,
effective December 26, 2018. Mr. Chappelle and Mr. Ellis will also
resign as members of the Company’s board of directors, effective
immediately.
James Hackett, Executive Chairman of the Board,
has been named Interim Chief Executive Officer of the Company. The
Company also announced that it has entered into an agreement with
Meridian Energy LLC (“Meridian”), which is led by Randy L.
Limbacher, John H. Campbell and Mark P. Castiglione. Meridian is a
private equity portfolio advisory company. Mr. Limbacher will serve
as the President, Mr. Campbell will serve as the Chief Operating
Officer – Upstream and Mr. Castiglione will serve as the Chief of
Staff to the President, on a consulting basis. The new leadership
team will share details of the 2019 operating and financial plan
early next year.
Mr. Limbacher, Mr. Campbell and Mr. Castiglione
have worked with Riverstone Holdings LLC since June 2017. Mr.
Limbacher’s prior experience includes serving in Chairman, CEO, COO
and EVP roles in various E&P companies such as Samson
Resources, Rosetta Resources, ConocoPhillips and Burlington
Resources. Mr. Campbell’s prior experience includes serving as
President and other senior executive positions at Quantum
Resources, LLC and Ocean Energy. Mr. Castiglione’s prior experience
includes senior executive positions at Quantum Resources, LLC and
El Paso Corp.
Mr. Hackett commented: “We welcome Randy, John
and Mark to Alta Mesa Resources, and I look forward to working with
them in this transitional period for the company. This senior
executive team has deep experience in public energy company
leadership and understands the expectations demanded of those
companies. All three are trained as petroleum engineers and have
significant financial experience.”
Michael A. McCabe remains Vice President and
Chief Financial Officer, as a search continues for his
replacement.
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, and through Kingfisher Midstream, LLC, provides
best-in-class midstream energy services, including crude oil and
gas gathering, processing and marketing and produced water disposal
to producers in the STACK play.
FOR MORE INFORMATION CONTACT:
Scott Grandt (281) 945-3357 sgrandt@altamesa.net
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