Profile: Resolute Energy Corp (REN.N)

REN.N on New York Stock Exchange

8.97USD
2 Aug 2013
Price Change (% chg)

$-0.08 (-0.88%)
Prev Close
$9.05
Open
$9.00
Day's High
$9.02
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$8.94
Volume
21,479
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233,853
52-wk High
$11.55
52-wk Low
$7.42

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Resolute Energy Corporation, incorporated on July 28, 2009, is an independent oil and gas company engaged in the exploitation, development, exploration for and acquisition of oil and gas properties. The Company’s asset base is consists of properties in Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties), the Permian Basin in Texas and southeast New Mexico (Permian Properties), the Williston Basin in North Dakota (Bakken Properties) and the Big Horn and Powder River Basins in Wyoming (Wyoming Properties). As of December 31, 2012, oil sales comprised approximately 93% of revenue. On December 21, 2012, the Company purchased properties containing proved reserves of approximately 4.1 million equivalent barrels of oil (MMBoe) in Denton Field in the Northwest Shelf in Lea County, New Mexico and in the Spraberry trend in the Midland Basin portion of the Permian Basin in Howard County, Texas.

Aneth Field Properties

Aneth Field, a giant legacy oil field in southeast Utah, holds 75% of the Company’s net proved reserves as of December 31, 2012. As of December 31, 2012, the Company completed three gross (2 net) wells. The Company owns working interests in, and is the operator of, three federal production units covering approximately 43,000 gross acres, which constitute the Aneth Field Properties. These are the Aneth Unit, the McElmo Creek Unit and the Ratherford Unit, in which it owns working interests of 65%, 71% and 62%, respectively, as of December 31, 2012. The Company had interests in and operated 391 gross (260 net) producing wells and 328 gross (218 net) active water and CO injection wells.

Permian Properties

As of December 31, 2012, the Company had interests in 40,800 gross (17,100 net) acres in the Permian Basin of Texas and southeast New Mexico. The Company’s position is divided between three principal project areas: the Wolfbone project area located in the Delaware Basin portion of the Permian Basin, primarily in Reeves County, the Wolfberry project area located in the Midland Basin portion of the Permian Basin, primarily in Howard, Martin, Midland and Ector counties and the Northwest Shelf project area located in the Denton, Gladiola and Knowles fields in the Northwest Shelf area in Lea County, New Mexico. As of December 31, 2012, it completed 20 gross (13.6 net) wells in the Permian Properties and had 196 gross (110 net) producing wells. During 2012, average net daily production from the Permian Properties was approximately 567 barrels of oil and was 75% liquids. The Wolfbone project area includes approximately 24,000 gross acres in which it hold an approximate 34% interest.

Bakken Properties

As of December 31, 2012, the Company had interests in approximately 88,100 gross (32,500 net) acres in the Bakken shale trend of the Williston Basin in North Dakota. The Company has two principal project areas: the New Home project area located in Williams County, comprising approximately 22,900 net acres and the Paris project area located in McKenzie County, comprising approximately 9,400 net acres. The Company also has interests in various smaller project areas, which in total comprise approximately 200 net acres, primarily in McKenzie County. As of December 31, 2012, average daily production from the Bakken Properties was approximately 860 barrels of oil and was 97% liquids. As of December 31, 2012, it had interests in 58 gross (14 net) producing wells. The Paris project area covers approximately 19,100 gross leasehold acres in which it has an average 49% working interest.

Wyoming Producing Properties

Hilight Field is located in the Powder River Basin in Campbell County, Wyoming, and consists of the Jayson Unit, the Grady Unit and the Central Hilight Unit. The Company has an 82.7% working interest in the Jayson Unit, an 82.5% working interest in the Grady Unit and a 98.5% working interest in the Central Hilight Unit. The Jayson, Grady and Central Hilight units cover an area of almost 50,000 gross acres. As of December 31, 2012, there were 157 gross (149 net) producing wells, excluding shut-in coalbed methane wells, and gross cumulative production.

Company Address

Resolute Energy Corp

Suite 1950
1675 Broadway
DENVER   CO   80202-4619
P: +1303.5344600
F: +1800.2535177

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