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 24,300 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 4 gross (2.5 net) wells on production during the second quarter, bringing its total producing well count to 211 gross (180.3 net). Additionally, at the end of the second quarter there were 1 gross (0.7 net) wells drilled and waiting on completion and hookup, which are expected to be on production during the third quarter. A continuous drilling program is maintained in the basin, and at the end of the quarter 1 gross (0.8 net) wells were still drilling.

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Permian Basin At a Glance

(as of June 30, 2014, unless otherwise stated)

Resolute gross acres in the Permian Basin:

40,400

 

Resolute net acres in the Permian Basin:

25,900

MMBoe of proved reserves at the end
of 2013:

19.8

 

PV10 (millions):

$297

 

Percent of Permian Basin production that is oil:

60%