M&A Deal Summary

Resolute Energy Acquires Oil production & Acreage New Mexico & Other properties

On December 3, 2012, Resolute Energy acquired oil/gas exploration company Oil production & Acreage New Mexico & Other properties

Acquisition Highlights
  • This is Resolute Energy’s 3rd transaction in the Oil/Gas Exploration sector.
  • This is Resolute Energy’s 3rd transaction in the United States.
  • This is Resolute Energy’s 1st transaction in New Mexico.

M&A Deal Summary
Date 2012-12-03
Target Oil production & Acreage New Mexico & Other properties
Sector Oil/Gas Exploration
Buyer(s) Resolute Energy
Deal Type Add-on Acquisition

Target

Oil production & Acreage New Mexico & Other properties

Lea County, New Mexico, United States
The primary asset acquired in Lea County is Denton Field, which was discovered in the 1950s and is a conventional fractured carbonate reservoir. The assets include 2,767 net acres (2,880 gross), all of which are held by production, and in the third quarter of 2012 the 39 existing wells produced a net 833 Boe per day. Approximately 89% of production consisted of crude oil. Resolute will be the operator of the Lea County assets. Other assets being acquired are a combination of conventional and unconventional producing properties in the Permian Basin. The acquired assets comprise 2,455 net acres (3,380 gross acres, all HBP) and produced 208 net Boepd in the third quarter of 2012.

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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 3 of 4
Sector (Oil/Gas Exploration) 3 of 4
Type (Add-on Acquisition) 2 of 2
State (New Mexico) 1 of 1
Country (United States) 3 of 4
Year (2012) 3 of 3
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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-04 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.

Buy $135M
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