Resolute Energy Corp. (NYSE: REN) has commenced a registered exchange offer to exchange up to US $400 million of its 8.5% senior notes due 2020 for up to US $400 million of its outstanding 8.5% senior notes due 2020, which were issued on April 25, 2012 and December 10, 2012 in two separate private placements.

According to the release, the sole purpose of the exchange offer is to fulfill the company's obligations pursuant to exchange and registration rights agreements entered into by the company in connection with the sales of ...