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Resolute Cuts Permian Activity Post-2Q; Plans Non-Op Participation
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Resolute Energy Corporation reported financial and operating results for the quarter and six months ended June 30, 2015.
Highlights: Average production for the quarter 13,528 Boe per day, up 10% over 2014 despite reduced capital spending Quarterly LOE of $15.64 per Boe, down 40% compared to 2014 Quarterly cash-based G&A down 31% compared to 2014, to $3.87 per Boe Approximately $100 million of availability under revolving credit facilityNicholas J. Sutton, Resolute's Chief Executive Officer, said: "The second quarter of 2015 was strong for Resolute, and notable for many reasons. Average daily production increased to a record quarterly level, even as we stood-down all drilling activity. Higher production volumes, combined with aggressive cost control and advantageous hedge positions…
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