permian

PERMIAN BASIN

 

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 28,200 gross (12,800 net) acres, prospective primarily for Wolfbone production. In the Midland Basin, we own leasehold covering approximately 11,900 net acres with infill drilling and uphole recompletion potential.

 

Resolute placed 6 gross (4.6 net) wells on production during the fourth quarter, bringing its total producing well count to 203 gross (175.4 net). Additionally, at the end of the fourth quarter there were 2 gross (1.1 net) wells drilled and waiting on completion and hookup, which are expected to be on production during the first quarter. A continuous drilling program is maintained in the basin, and at the end of the quarter 2 gross (1.3 net) wells were still drilling.

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Permian Basin At a Glance

(as of Dec. 31, 2013, unless otherwise stated)

Resolute gross acres in the Permian Basin:

44,100

 

Resolute net acres in the Permian Basin:

24,700

MMBoe of proved reserves at the end
of 2013:

19.8

 

PV10 (millions):

$297

 

Percent of Permian Basin production that is oil:

70%