bakken

BAKKEN

 

In the Bakken, the company entered into a joint venture with GeoResources Inc. (Nasdaq: GEOI), a farmout from Marathon Oil (NYSE: MRO) and the acquisition of additional undeveloped acreage in the play. As of June 30, 2013, Resolute owns approximately 28,400 net acres in the Bakken trend.

 

Resolute’s Bakken properties are in Williams and McKenzie counties, North Dakota. These leaseholds are located within the Bakken shale trend of the Williston Basin. Although the middle Bakken formation is the primary objective, secondary objectives include the Three Forks, Madison and Red River formations. During the three months ended June 30, 2013, the Company participated in the drilling of one gross (0.1 net) wells. At June 30, 2013, the Company had an interest in zero gross (0.0 net) wells awaiting completion operations.

 

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Bakken At a Glance

(as of Jun. 30, 2013, unless otherwise stated)

Resolute gross acres
in the Bakken:

77,700

 

Resolute net acres in the Bakken:

28,400

MMBoe of proved reserves at the end
of 2012:

3.5

 

PV10 (millions):

$86.0

 

Percent of Bakken production that is oil:

89%