Bayou City Energy’s affiliate, BCE-MESA Holdings LLC completed the purchase of preferred stock in High Mesa Inc.
High Mesa is a privately held Delaware corporation, of which the common stock is owned by management of High Mesa, and the preferred stock is owned by BCE-MESA and HPS Investment Partners LLC. High Mesa has interests in oil and gas assets, most notably Alta Mesa Holdings LP. BCE-MESA, which is managed by BCE, includes an investment from affiliates of Intervale Capital, a middle-market energy services private equity firm. In connection with this investment, High Mesa appointed BCE founding partner, William McMullen, to its board of directors.
Alta Mesa was founded in 1987. The company drilled its first horizontal STACK well in 2012. Within Kingfisher County, Alta Mesa has over 95,000 net acres, is currently producing approximately 16,000 BOE per day and is currently operating four rigs across its position.