One-Page Deal Sheet
Resolute to Shed Non-Core Permian Midland Assets for $42 Million
QStar, LLC Resolute Energy Corp
Announced Date
March 30,2015
Close Date
May 01,2015
Transaction Type
Property
Enterprise Value (EV)($MM)
42
Asset/Basin:
{"Permian Basin","Midland Basin"}
TargetZones:
{"Midland Basin (Per
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
County
Howard
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Require Private Equity Subscription
Resolute Energy Corporation has entered into a definitive agreement to sell certain non-core assets in the Midland Basin portion of the Permian Basin in west Texas. The properties will be sold to a private party for a purchase price of approximately $42 million.
Shale Experts learned that the buyer is Qstar LLC.
The company intends to use the proceeds to pay down debt. The asset consist of operated and non-operated located mostly in Howard county, with some additional acreage in Martin County.
Resolute held 2,200 net acres
"This transaction represents the first step in our previously…
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