SOURCE: Resolute Energy Corp

Resolute Energy Corp

October 07, 2016 11:52 ET

Resolute Energy Corporation Completes Closing of Delaware Basin Acquisition and Private Offering of Preferred Stock

DENVER, CO--(Marketwired - Oct 7, 2016) - Resolute Energy Corporation (NYSE: REN) (the "Company") today announced the closing of its previously announced acquisition of certain oil and gas properties located in Reeves County, Texas, for an aggregate purchase price of $135.0 million. The acquisition was financed in part with proceeds received from the previously announced private offering of shares of 8 1/8% Series B Cumulative Perpetual Convertible Preferred Stock of the Company, which also closed today. The Company sold a total of 62,500 shares of the convertible preferred stock, which includes 7,500 shares issued in connection with the exercise by the initial purchaser of its over-allotment option. Total net proceeds from the sale of the convertible preferred stock, before offering expenses, was approximately $60.0 million.

About Resolute Energy Corporation

Resolute is an independent oil and gas company focused on the acquisition, exploration, exploitation and development of oil and gas properties, with a particular emphasis on liquids focused, long-lived onshore U.S. opportunities. Resolute's properties are located in the Paradox Basin in Utah and the Permian Basin in Texas and New Mexico.

Contact Information

  • Contact:

    HB Juengling
    Vice President - Investor Relations Resolute Energy Corporation
    303-534-4600
    Email Contact