M&A Deal Summary

Resolute Energy Acquires Firewheel Energy - Oil & Gas Properties

On October 4, 2016, Resolute Energy acquired oil/gas exploration company Firewheel Energy - Oil & Gas Properties from FireWheel Energy for 135M USD

Acquisition Highlights
  • This is Resolute Energy’s 4th transaction in the Oil/Gas Exploration sector.
  • This is Resolute Energy’s largest (disclosed) transaction.
  • This is Resolute Energy’s 4th transaction in the United States.
  • This is Resolute Energy’s 2nd transaction in Texas.

M&A Deal Summary
Date 2016-10-04
Target Firewheel Energy - Oil & Gas Properties
Sector Oil/Gas Exploration
Buyer(s) Resolute Energy
Sellers(s) FireWheel Energy
Deal Type Divestiture
Deal Value 135M USD

Target

Firewheel Energy - Oil & Gas Properties

Reeves County, Texas, United States
Firewheel Energy - Oil & Gas Properties consist of 3,293 net acres in our highly productive Delaware Basin operating area, and include interests in thirteen horizontal and fifteen vertical wells, which produce approximately 1,200 net Boe per day. Approximately 95% of the acreage and substantially all of the production and proved reserves are located within the Resolute-operated Mustang project area in Reeves County.

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Buyer(S) 1

Buyer

Resolute Energy

Denver, Colorado, United States
Category Company
Founded 2004
Sector Energy Services and Equipment
Employees226
Revenue 303M USD (2017)
DESCRIPTION

Resolute Energy Corp. 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 Energy was founded in 2004 and is based in Denver, Colorado.

DEAL STATS #
Overall 4 of 4
Sector (Oil/Gas Exploration) 4 of 4
Type (Divestiture) 2 of 2
State (Texas) 2 of 2
Country (United States) 4 of 4
Year (2016) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-03 Oil production & Acreage Texas

Howard County, Texas, United States

The Howard County assets include non-operated working interests of approximately 39%, consisting of 1,310 net acres primarily targeting the Wolfberry play. The 23 existing wells produced a net 377 Boe per day in the third quarter of 2012, approximately 64% of which was crude oil. This acreage is approximately six miles from the Company’s existing operations in Howard and Martin counties.

Buy -

Seller(S) 1

SELLER

FireWheel Energy

Midland, Texas, United States
Category Company
Founded 2011
Sector Oil/Gas Exploration
DESCRIPTION

FireWheel Energy Is an independent oil and gas development company. The company will target both producing and non-producing properties in the Permian Basin and East Texas. Management has diverse operational, engineering, geological, and business experience as well as a history of value growth in both areas. FireWheel Energy was founded in 2011 and is based in Midland, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
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