A court-ordered sale of one-time shale high-flyer Alta Mesa Resources Inc fell through due to a lack of financing on Monday, according to court filings, a day when oil prices and shares of U.S. oil producers plummeted. Investors and banks have pulled back on financing shale after poor returns, and this year’s drop of about 40% in crude prices has sharply reduced the value of oil and gas reserves that many producers use to finance operations. Alta Mesa, which two years ago raised $1 billion through Riverstone Holdings and other top energy investors, sought protection from creditors last September after a failed bet on Oklahoma shale. Creditors agreed to sell the company for $310 million to private equity firm Bayou City Energy Management and Mach Resources, a company founded by shale pioneer Tom Ward. The closing was set for Monday, the day oil prices fell more […]