One-Page Deal Sheet
Resolute to Sell Permian Gardendale Asset for $177.5 Million
Independence Resources Management Resolute Energy Corp
Announced Date
November 23,2015
Effective Date
September 01,2015
Close Date
December 22,2015
Transaction Type
Property
Enterprise Value (EV)($MM)
178
Asset/Basin:
{Permian,"Midland Basin"}
TargetZones:
{"Middle Spraberry",
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
County
Midland ,Ector
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Require Private Equity Subscription
Resolute Energy is reporting that is has sold its Gardendale assets in the midland basin. Even though the company did not disclose the buyer, Shale Experts was able to confirm that the buyer is Warbug Pincus-backed Independence Resources Managment.
The reported sale price was $177 million
The proceeds of the sale initially will be used to reduce debt and longer term will be used to fund development activity in the Company's properties in the Delaware Basin in west Texas and Aneth Field in southeast Utah.
The transaction, which is expected to close on or about December 22, 2015, has an…
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