Resolute’s Texas properties were acquired in 2011 and are located in Reeves, Howard and Martin counties, in the Permian Basin of West Texas. In Reeves County in the Delaware Basin, Resolute controls approximately 21,900 gross (13,400 net) acres, prospective primarily for Wolfbone production. In the Midland Basin, we own leasehold covering approximately 12,500 net acres with infill drilling and uphole recompletion potential.
Resolute placed 3 gross (1.6 net) wells on production during the third quarter, bringing its total producing well count to 214 gross (181.9 net). Additionally, at the end of the third quarter there were 3 gross (1.2 net) wells drilled and waiting on completion and hookup, which are expected to be on production during the fourth quarter. A continuous drilling program is maintained in the basin, and at the end of the quarter 1 gross (0.5 net) wells were still drilling.
Permian Basin At a Glance
(as of September 30, 2014, unless otherwise stated)
Resolute gross acres in the Permian Basin:
Resolute net acres in the Permian Basin:
MMBoe of proved reserves at the end
Percent of Permian Basin production that is oil: