Alta Mesa Lands $310 Million Bid from Mach, Bayou City Energy (2)

Alta Mesa Resources Inc., a bankrupt energy company, said it received a $310 million opening “stalking horse” bid from a joint venture between oil drill operator Mach Resources LLC and private equity firm Bayou City Energy Management.

In its bid, the joint venture, BCE-Mach III LLC, offers Alta Mesa $224.75 million for the exploration and drilling business assets, according to a notice filed Dec. 31 by Alta Mesa in the U.S. Bankruptcy Court for the Southern District of Texas.

BCE-Mach also said it will pay $85.25 million for the oil gathering and transportation assets of Kingfisher Midstream LLC, an Alta ...