Resolute Energy To Buy Permian Properties

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Estimated Price
$230.0MM
Description

Purchase of 1,500 net Permiant Basin acres producing 1,050 BOE per day.

Resolute Energy Corp. (NYSE: REN) announced in an SEC filing that it intends to acquire an additional stake in the Permian basin for own for about $230 million.

Resolute purchased a 32% stake in about 4,660 gross (1,500 net) acres in Ector and Midland counties that were producing 1,050 barrels of oil equivalent (BOE) per day in December for $125 million. It now intends to exercise an option to acquire the rest of the assets for about $230 million from the sellers: listed as RSP Permian LLC, Wallace Family Partnership LP and Ted Collins Jr.

In addition, Resolute has hired BMO Capital Markets Corp. to market its Bakken assets (23,500 net acres in northwest Williams County and 8,500 net acres in southeast McKenzie County).