End to Alta Mesa Bankruptcy Begins as Liquidation Plan Approved

Alta Mesa Resources Inc. got court confirmation of its Chapter 11 plan of liquidation, marking the beginning of an end to a tumultuous bankruptcy.

The approval will let the company wind down its affairs after it was forced to sell most of its assets at a steep discount due to Covid-19 and a collapse in oil prices.

Judge Marvin Isgur of the U.S. Bankruptcy Court for the Southern District of Texas confirmed the plan for Alta Mesa and its affiliates after a hearing Wednesday.

The plan “was overwhelmingly accepted” by every class of creditors and the company resolved a dozen ...