Resolute Overview y Market capitalization1 582.5 million Picture goes here y Long term debt2 119.1 million y Shares outstanding 54.9 million y Debt to total market cap 20.4% y SEC case proved reserves3 64 MMBoe y Oil 77% y NGL…
Why invest in Resolute y Experienced management with a successful track record y Liquids weighted (90% liquids) domestic onshore exploration and production company y Attractive core properties y Proved R/P = 23 years y Organic growth…
Property Overview y Year-end 2009 SEC case1 y Proved reserves: 64 MMBoe y PV10 480 million y Year-end 2009 strip case1 y Proved reserves: 83 MMBoe y PV10: 1.1 billion y Q1 2010 net production: 7,062 Boe per day y Q2 2010 net…
Aneth
Resolute Aneth Field Properties y Large field with long production history y Discovered in 1956 y 1.5 billion Bbl original oil in place y Production to date of 419 million barrels (29%) y Expected recovery including only proved…
Aneth Field Properties SEC case reserves by product SEC case reserves by category NGL 12% Gas 6% PDP 33% PUD 49% Oil 82% PDNP 18% Year-end 2009 SEC case1 Year-end 2009 strip case1 y Proved reserves: 60 MMBoe y Proved…
Existing and New CO2 Flood Projects Aneth Unit Pilot Aneth Phases 1, 2 and 3 CO2 flooded since 1998 Completed in 2008/09 Currently under injection McElmo Creek Unit CO2 flooded since 1985 Aneth Phase 4 Begin work in 2010 First…
Demonstrated Response Aneth and McElmo Creek McElmo Creek Unit Desert Creek IIC Aneth Unit CO2 response recompletion response 3,200 40 2,600 3,000 35 2,500 2,400 2,800 30 2,300 2,600 25 Daily Rate (Bopd) 2,200…
Significant Organic Upside Resolute Aneth annual net production MBoe (SEC case at December 31, 2009) PDP PDNP PUD 4,000 AGR 15% C 3,500 3,000 2,500 2,000 1,500 1,000 500 0 2010 2011 2012 2013 2014 y Production from…
Wyoming
Wyoming - Hilight Field 2009 SEC case reserves by product by category PUD 1% Oil 23% Gas 51% NGL 26% PDP 57% Location Map PDNP 42% Wyoming 20 miles y 2009 Year-end SEC case1 y Proved reserves 5 MMBoe y Acquired in July 2008…
Hilight Field Growth Opportunities y Muddy refrac program y Five wells recently refraced Termo y Seven additional planned for 2010 y Mowry shale y Emerging shale oil play y Five recently drilled Mowry wells, four producing oil…
Bakken
Bakken PlayWilliston Basin y Resolute owns 89,000 gross (33,400 net) acres in Williams and McKenzie Counties, North Dakota 50 miles CANADA MT ND y Two areas of acreage Nesson Anticline y Joint venture with GeoResources y…
Bakken Development Project Resolute and GeoResources joint project to develop Bakken acreage in Williams County, ND (highlighted) Permitted wells in which Resolute owns interests y Resolute and GeoResources each own 47.5% interest…
Financial Overview
Pro Forma Summary Financials ( in millions, except as noted) 2007 2008 2009 Q1 2010 Q2 2010 Sales volumes 1 1 1 Total MBoe 2,760 2,823 2,715 636 661 2 Revenue including hedging 170.9 206.0 139.0 39.0 39.2 Expenses 3 Operating…
2010 Guidance y 2010 estimated production: 2.7 to 2.8 MMBoe y Daily rate 7,400 to 7,700 Bbl per day y Revenue weighted y Volume weighted y % Oil 86% % Oil 77% y % Oil and NGL 91% % Oil and NGL 84% y Operating and overhead expenses y…
Resolute Investor Contacts
Resolute Investor Contacts HB Juengling Vice President Investor Relations (hbjuenglingrnrc.net) Theodore Gazulis Senior Vice President and Chief Financial Officer (tgazulisrnrc.net) Nicholas J. Sutton Chief Executive Officer…
Conclusion and Q&A
Appendix A Economic Parameters y SEC case economic parameters y Oil 61.18 per Bbl (NYMEX) y Gas 3.87 per MMBtu (Henry Hub) y Strip case economic parameters Oil Gas /Bbl /MMBtu 2010 82.30 5.77 2011 86.13 6.31 2012 87.99 6.48…
Appendix B Reconciliation of Non-GAAP Measures Three months ended Year ended December 31, March 31, June 30, ( in millions) 2007 2008 2009 2010 2010 Net income (loss) (104.4) (90.4) (52.9) 4.7 19.1 Adjustments: Interest 35.9 33.1…
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