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Resolute Unloads Aneth Field Property for $195 Million

Elk Petroleum Limited Resolute Energy Corp
AnnouncedSep 15, 2017
TypeProperty
Announced Date
September 15,2017
Effective Date
October 01,2017
Close Date
November 06,2017
Transaction Type
Property
Enterprise Value (EV)($MM)
195




Snapshot
Asset/Basin:
{"Paradox Basin"}
% Oil:
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Proved Reserves
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Location
Region
Rockies

Country
United States

State
Utah

Production & Reserves
Production
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Production Mix
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Reserves
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Calculated Metrics( EV/Category)
$/ Flowing
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Transaction Details:  Subscribe to see

Resolute Energy has agreed to sell its Aneth Field assets in the Paradox Basin (SE Utah) to an affiliate of Elk Petroleum Ltd. for $195 million. This deal closed on November 6, 2017.

According to Resolute's presentation, the Aneth Field property was producing 6,086 BOEPD (95% oil) in Q4 2016 and has 1.5 billion barrels of oil in place.

Petrie Partners, LLC and Barclays Capital Inc. acted as financial advisors to Resolute on the Aneth Field sale transaction. Resolute was represented by Arnold & Porter Kaye Scholer LLP.

This sale is in line with Resolute's strategy of becoming a pure-play…


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