Commenting on the transactions, Nicholas J. Sutton, Resolute's Chairman and Chief Executive Officer, said: "These transactions, taken together, have strong economics for Resolute while presenting NNOG and the Navajo Nation the opportunity to increase their ownership interest in Aneth Field and the tertiary recovery projects that we have undertaken there. Furthermore, the Cooperative Agreement has been brought up to date and has brought more certainty to both Resolute and NNOG with regard to NNOG's remaining rights to acquire interests from Resolute."
Resolute also announced today that management will participate in the North American Small and Mid-Cap Energy Forum sponsored by Barclays Capital. The presentation will be held at Barclays Capital, 745 Seventh Avenue,
New York City
Thursday, April 12, 2012
11:30 am Eastern Time
An updated investor presentation to be used at the conference will be available on Resolute's website at
on the morning of
April 12, 2012
Finally, Resolute announced today that it will issue a press release covering operational and financial results for its fiscal quarter ended
March 31, 2012
, after the market closes on
Monday, May 7
, 2012. An investor conference call to review the first quarter results will be held on
Monday, May 7, 2012
5:00 p.m. Eastern Time
To participate in the call please dial (877) 491-0104 from
the United States
, or (949) 484-0323 from outside the U.S. The conference call I.D. number is 71088198. Participants should dial in 5 to 10 minutes before the scheduled time and must be on a touch-tone telephone to ask questions. A replay of the call will be available through
May 9, 2012
, by dialing (855) 859-2056 from the U.S., or (404) 537-3406 from outside the U.S.
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "poised," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Such forward looking statements include statements regarding the timing and effects of closing our sale transaction with NNOG; future financial and operating results; statements regarding our production and cost guidance; future production and reserve growth; anticipated capital expenditures; our operating, development and exploration plans; and liquidity and availability of capital. Forward-looking statements in this press release include matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the volatility of oil and gas prices; inaccuracy in reserve estimates and expected production rates; discovery, estimation, development and replacement of oil and gas reserves; the future cash flow, liquidity and financial position of Resolute; the success of the business and financial strategy, hedging strategies and plans of Resolute; the amount, nature and timing of capital expenditures of Resolute, including future development costs; availability and terms of capital; the effectiveness of Resolute's CO2 flood program; the timing of issuance of permits and rights of way; the timing and amount of future production of oil and gas; availability of drilling, completion and production personnel, supplies and equipment; operating costs and other expenses of Resolute; the success of Resolute in marketing oil and gas; competition in the oil and gas industry; the impact of weather and the occurrence of disasters, such as fires, floods and other events and natural disasters; environmental liabilities; anticipated supply of CO2, which is currently sourced exclusively under a contract with
CO2 Company, L.P.; operational problems or uninsured or underinsured losses affecting Resolute's operations or financial results; government regulation and taxation of the oil and gas industry, including the potential for increased regulation of underground injection operations; changes in derivatives regulation; developments in oil-producing and gas-producing countries; Resolute's relationship with the Navajo Nation and the local Navajo community in the area in which Resolute operates; and the success of strategic plans, expectations and objectives for future operations of Resolute. Actual results may differ materially from those contained in the forward-looking statements in this press release. Resolute undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. You are encouraged to review Item 1A. - Risk Factors and all other disclosures appearing in the Company's Form 10-K for the year ended
December 31, 2011
, and subsequent filings with the Securities and Exchange Commission for further information on risks and uncertainties that could affect the Company's businesses, financial condition and results of operations. All forward-looking statements are qualified in their entirety by this cautionary statement.
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 producing properties are located in the Paradox Basin in
, the Powder River Basin in
, the Permian Basin in
and the Bakken trend of North Dakota. The Company also owns exploration properties in the Permian Basin of
and Powder River Basins of Wyoming.
HB JuenglingVice President - Investor Relations Resolute Energy Corporation303-534-4600
SOURCE Resolute Energy Corporation