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After Lackluster Q1, Resolute Transitioning to Delaware Only E&P; Expects Better Q2 Results

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After Lackluster Q1, Resolute Transitioning to Delaware Only E&P; Expects Better Q2 Results

Highlights from Resolute's Q1 results and conference call incude:

Permian production in Q1 2017 was 13,444 boe/d, or only a 3.9% increase from its Q4 2016 production of 12,939 boe/d Running 2 rigs, Resolute reached a total depth on 9 new wells and completed 8 wells. At this growth rate, the company will hit its guidance of 22 wells by October but has not made a decision to increase its guidance at this time The company is striving to become a Delaware only operator. In Q1 2016, the Permian made up 33% of the company's production but in Q1 2017, the number nearly doubled to 70% Delaware production rates in April were 15,925 boe/d, almost a 32% increase from production rates in March, signaling that Resolute expects better results to report for Q2 Q1 2017 capex was $53.4 million  Closing…
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