Alta Mesa Resources, Inc. filed a motion in the US Bankruptcy Court for the sale of substantially all its assets and certain non-debtor assets on September 16, 2019. The debtor seeks the Court’s approval for the sale of substantially all its assets to the stalking horse bidder, pursuant to the asset purchase agreement. The Debtors may enter into a stalking horse agreement at any time prior to December 31, 2019. To qualify as a qualified bidder, interested parties should submit their bids by November 26, 2019, along with good-faith deposit in the amount of 10% of the purchase price. The initial minimum overbid should be at least $2.5 million more than the initial purchase price. The debtor has scheduled an auction on January 3, 2020. At the auction, the subsequent bids would be in increments of $2.5 million. The stalking horse bidder would be entitled to a break-up fee and expense reimbursement in case of termination of the asset purchase agreement. The sale hearing is scheduled for January 10, 2020.