Resolute Energy Corporation, an independent oil and gas company, engages in the acquisition, exploitation, exploration for, and development of oil and gas properties in the United States. The company holds interests in the Aneth Field covering approximately 43,000 gross acres located in the Paradox Basin in southeast Utah; and covering 27,750 gross acres in the Permian Basin in west Texas and southeast New Mexico. As of December 31, 2015, its estimated net proved reserves were approximately 33.1 million barrels of oil equivalent. Resolute Energy Corporation was founded in 2004 and is based in Denver, Colorado.
Ciao brought this one into scalp thread when it was around $4-$5 and my first scalp was on paper @ $5+ and was looking to reenter but missed the last under $10
Quant out of the way, oil tipping around 50 which means crash coming, and weekly and daily RSI at extreme levels - no Brainer folks.
Resolute has entered into a series of related agreements with an undisclosed Permian Basin midstream company ("Purchaser") pursuant to which Resolute and an existing minority interest holder will sell the gas gathering and water handling systems currently operated by Resolute in its Appaloosa and Mustang project areas in Reeves County, Texas, for aggregate gross consideration of up to $110 million. This consideration is comprised of two components: 1) a $50 million payment for the assets currently in place and 2) up to $60 million in earn-out payments tied to field drilling activity through 2020 that will deliver gas and produced water into the system. Resolute will receive $32.85 million of the initial payment, while the Company's partner in the Mustang area will receive the balance of $17.15 million.
