Revenue during the year plunged 59.95 percent to $173.79 million from $433.89 million in the previous year. Gross margin for the year contracted 2778 basis points over the previous year to 50.70 percent. Operating margin for the year stood at negative 51.68 percent as compared to a negative 16.01 percent for the previous year.

Operating loss for the year was $89.81 million, compared with an operating loss of $69.48 million in the previous year.

The company has spent $224.30 million cash to meet investing activities during the year as against cash outgo of $105.82 million in the last year. It has incurred net capital expenditure of $203.82 million on net basis during the year, up 56.30 percent or $73.42 million from year ago.

Cash flow from financing activities was $91.24 million for the year as against cash outgo of $30.64 million in the last year period.

Cash and cash equivalents stood at $7.18 million as on Dec. 31, 2016, down 18.99 percent or $1.68 million from $8.87 million on Dec. 31, 2015.

Debt comes down significantly
Alta Mesa Holdings has recorded a decline in total debt over the last one year. It stood at $556.86 million as on Dec. 31, 2016, down 25.10 percent or $186.66 million from $743.52 million on Dec. 31, 2015. Alta Mesa Holdings has recorded a decline in long-term debt over the last one year. It stood at $556.86 million as on Dec. 31, 2016, down 25.10 percent or $186.66 million from $743.52 million on Dec. 31, 2015.