Seaport Global Securities Starts Resolute Energy (REN) at Buy
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Resolute Energy (REN) Announces Closure of Delaware Basin Asset Acquisition
October 7, 2016 11:57 AM EDTResolute Energy Corporation (NYSE: REN) 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... More
Resolute Energy (REN) Enters 55k Series B Conv. Preferred Private Placement
October 5, 2016 9:09 AM EDTResolute Energy Corporation (NYSE: REN) announced that it has priced a private offering of 55,000 shares of 8 1/8% Series B Cumulative Perpetual Convertible Preferred Stock of the Company ("convertible preferred stock"), having an initial offering price and liquidation preference of $1,000 per share. The Company has granted the initial purchaser a 30-day option to purchase up to an additional 7,500 shares of convertible preferred stock. The closing of the offering is expected to occur on October 7, 2016 and is subject to the satisfaction of customary closing conditions.
The Company expects to receive, before offering expenses, $52.8 million in net... More
Rodman & Renshaw Starts Resolute Energy (REN) at Buy
October 5, 2016 8:25 AM EDTRodman & Renshaw initiated coverage on Resolute Energy (NYSE: REN) with a Buy rating and a price target of $32. Analyst Noel Parks anticipates growth.
"5 most recent Delaware Basin wells should boost proved reserves 44% compared to EOY 2015 levels, and the company may drill 21 wells... More
Resolute Energy (REN) to Acquire Delaware Basin Assets from Firewheel Energy in $135M Deal; Offers Prelim. Q3 Results
October 5, 2016 6:00 AM EDTResolute Energy Corporation (NYSE: REN) reported that it has entered into a definitive agreement (the "Acquisition Agreement") with Firewheel Energy, LLC ("Firewheel"), a portfolio company of EnCap Investments, to acquire certain oil and gas properties located in Reeves County, Texas, for a purchase price of $135 million (the "Firewheel Properties"). The transaction is expected to close on October 7, 2016.
The Firewheel Properties consist of 3,293 net acres in our highly productive Delaware Basin operating area, and include interests in thirteen horizontal and fifteen vertical wells, which produce approximately 1,200 net Boe per day. Approximately 95% of the... More
