Resolute Energy Corporation Announces Details of the Divestiture Process for Its Aneth Field Properties; Borrowing Base Red...
April 17 2017 - 5:40PM
Resolute Energy Corporation (“Resolute” or the “Company”)
(NYSE:REN) today announced that it has engaged Petrie Partners, LLC
and Barclays Capital Inc. to act as financial advisors in
connection with the previously announced disposition process for
its Aneth Field properties in southeast Utah, in the Paradox
Basin. The Company anticipates that a virtual data room will
be available in the coming weeks. Certain overview materials
regarding the properties have been posted to the Company’s website
at www.resoluteenergy.com. Parties interested in
participating in the process should contact Andy Rapp at Petrie
Partners (303.953.6768) or Steve Almrud at Barclays (713.236.2417)
to arrange execution of a confidentiality agreement.
The Company also announced that pursuant to the spring borrowing
base redetermination under its Third Amended and Restated Revolving
Credit Facility, the Company’s new borrowing base has been set at
$225 million, providing ample liquidity for the Company to fund the
pending Reeves County, Texas acquisition scheduled to close in May
and also to pursue its 2017 drilling program.
Cautionary Statements
This press release includes “forward-looking statements” within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995.
Forward-looking statements in this press release include matters
that involve known and unknown risks, uncertainties and other
factors that may cause actual results, levels of activity,
performance or achievements to differ materially from results
expressed or implied by this press release. Resolute
undertakes no obligation and does not intend to update these
forward-looking statements to reflect events or circumstances
occurring after the date of this press release. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press
release. All forward-looking statements are qualified in
their entirety by this cautionary statement.
About Resolute Energy Corporation
Resolute is an independent oil and gas company focused on the
acquisition and development of unconventional oil and gas
properties in the Delaware Basin portion of the Permian Basin of
west Texas. Resolute also operates Aneth Field, located in
the Paradox Basin in Utah. For more information, visit
www.resoluteenergy.com. The Company routinely posts important
information about the Company under both the Investor Relations and
the News sections of its website. The Company’s common stock
is traded on the NYSE under the ticker symbol “REN.”
Contact
HB Juengling
Vice President - Investor Relations
Resolute Energy Corporation
303-534-4600
hbjuengling@resoluteenergy.com
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