Independent-Enterprise

A company that has been drilling for gas and oil in Idaho no longer has financial ties to the company in Texas which has filed for Chapter 11 bankruptcy projection.

According to media sources, Alta Mesa Resources, an oil and gas producer and publically traded company, filed its action along with six affiliated companies on Sept. 12.

However, the company divested itself of Idaho operations in January, according to Mick Thomas with the Idaho Department of Lands, Oil and Gas Division.

In an email Thomas wrote, “Alta Mesa sold the entire Idaho operation (AM Idaho) last January to a private company. That company is called Hi Mesa and took ownership of the Idaho, Texas, Florida, and Louisiana operations. While the new Hi-Mesa company has some of the same players as the original Alta Mesa did before Alta Mesa went public, it is an entirely independent company with no financial ties to the public company Alta Mesa.”

However, documents state that AM Idaho, which is part of Hi Mesa, is the midst of an integration process to obtain uncommitted mineral rights in an area it wants to drill. A hearing on that is coming up in the near future.

Load comments