Alta Mesa Resources, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported that the successor's total operating revenues were $122,419,000, loss from operations was $15,063,000, loss from continuing operations before income taxes was $26,018,000, loss from continuing operations was $22,340,000, net loss attributable to company stockholders of $6,444,000 or $0.04 per basic and diluted share, EBITDAX was $46,964,000, and adjusted EBITDAX was $47,407,000. Predecessor's total operating revenues were $122,419,000, income from operations was $27,899,000, income from continuing operations before income taxes was $15,620,000, income from continuing operations was $15,620,000, and net loss attributable to company stockholders of $15,314,000 for the second quarter ended June 30, 2017. The company deployed $211.1 million on capital expenditures during the second quarter 2018, with $191.2 million by Alta Mesa Upstream and $19.9 million by Kingfisher Midstream.

For the period from February 9, 2018 through June 30, 2018, the company reported that the successor's total operating revenues were $184,956,000, loss from operations was $47,527,000, loss from continuing operations before income taxes was $63,380,000, loss from continuing operations was $55,889,000, net loss attributable to company stockholders of $19,679,000 or $0.11 per basic share and $0.12 per diluted share, EBITDAX was $51,203,000, adjusted EBITDAX was $76,937,000, net cash used in operating activities was $62,845,000, and capital expenditures for property, plant and equipment were $342,608,000. For the period from January 1, 2018 through February 8, 2018, predecessor's total operating revenues were $40,136,000, loss from operations was $1,960,000, loss from continuing operations before income taxes was $7,299,000, loss from continuing operations was $7,299,000, net loss attributable to company stockholders of $14,892,000, EBITDAX was $4,709,000, adjusted EBITDAX was $21,749,000, net cash provided by operating activities was $26,519,000, and capital expenditures for property, plant and equipment were $38,096,000. For the six months ended June 30, 2018, predecessor's total operating revenues were $126,387,000, income from operations was $69,407,000, income from continuing operations before income taxes was $45,335,000, income from continuing operations was $45,050,000, net income attributable to company stockholders of $9,601,000, net cash used in operating activities was $6,221,000, and capital expenditures for property, plant and equipment were $151,832,000.

Total production for the second quarter of 2018 was 2,334 MBOE, an average of 25,600 BOE per day. The company's 2018 net production grew by more than 50% from average December daily production to estimated average July production of 31,800 BOE per day.

In light of production to date and the forward outlook for the drilling and completions schedule, the company now expects 2018 exit production of 38,000 to 40,000 BOE per day and average production of 29,000 to 31,000 BOE per day for full year 2018.

The company provided capex guidance for the full year of 2018. The company announced that basically capex is little bit more skewed in first and second quarter towards the upstream side of business, that will smooth a little bit more as the company transfer more of the saltwater disposal and crude water disposal over to KFM.