Resolute overview Market capitalization1 950.6 million Picture goes here Long term debt2 82.0 million Shares outstanding 58.5 million Debt to total market cap 7.9% SEC case proved reserves3 65 MMBoe Oil 78% NGL 12% Gas 10% R/P…
Why invest in Resolute Oil weighted assets with organic growth potential 90% liquids Williston Basin Producing properties generate strong cash 34,000 net acres flow Shallow decline Big Horn Basin Internally funded capital program…
Property overview Resolute net daily production by quarter 8,500 8,000 Year-end 2010 SEC case1 Proved reserves: 65 MMBoe 7,500 PV10 848 million Boe per day 7,000 Year-end 2010 strip case1 6,500 Proved reserves: 78 MMBoe…
Aneth
Aneth Field a giant legacy property Large field with long production history Discovered in 1956 1.5 billion Bbl original oil in place Production to date of 422 million barrels (28%) Recovery expected to be 34% (proved reserves…
Aneth Field properties SEC case reserves by product SEC case reserves by category NGL 11% Gas 6% PDP 37% PUD 49% Oil 83% PDNP 14% Aneth Field net daily production by quarter Year-end 2010 SEC 6,000 case1 Boe per day…
Existing and new CO2 flood projects Fully CO2 flooded McElmo Creek Unit - 1985 Aneth Unit pilot - 1998 Recent CO2 flooding Aneth Unit 1, 2 and 3 begun 2008; approximately 25% flooded at year end 2010 Future CO2 projects Aneth…
Aneth Unit Phases 1, 2 and 3 CO2 injection and response 2 2 2 2 2 Key Recognizable CO2 response One mile Cumulative CO2 injection 10
McElmo Creek Unit Desert Creek IIC (DC IIC) Ten wells producing for one to nine months as of December 31, 2010 16 projects planned for 2011 including 12 injectors and four producers 50 locations for future drilling…
Other Aneth Field projects Infill drilling Three locations identified for 2011 Targeting undrilled 40 acre locations; redrill certain older wells Additional opportunities beyond original three locations Membrane plant production…
Significant production upside and free cash flow Estimated production increase of 84% over the next five years Total capital to support proved developed reserves over next five years = 53 million Average annual maintenance capital of…
Wyoming
Wyoming Hilight Field SEC case reserves by product SEC case reserves by category Oil 13% Gas 60% PUD 21% NGL 27% PDP 57% PDNP 22% Wyoming net daily production by quarter 2,500 Year-end 2010 SEC 2,250 case1 2,000 Proved…
Hilight Field growth opportunities 45,000 acres HBP Emerging Mowry oil shale Termo play Fractures and oil shows in Hilight wells 400 penetrations, many logs and cores Orion Undertook program three EOG well recompletion in 2010…
Mowry oil play areas in Wyoming Hilight Unit 30 miles 17
Mowry activity and Resolute acreage Big Horn Basin Mowry Play Regional Location Map Mowry Oil Play Area (green) and Resolute Acreage (yellow) Cirque Resources 3 horizontal Mowry Plains Exploration wells permitted * 3 horizontal…
Bakken
Williston Basin Update Thermally mature Bakken Net acreage New Home 23,528 Paris 8,425 NESSON ANTICLINE Shep 1,423 New Home Total 33,415 PARSHALL Drilling activity (gross) ROUGH RIDER -SANISH Five wells drilled in…
Williston Basin Bakken Trend New Home prospect area, Williams County, operated by GeoResources G3 Carlson 1-11H 47.5% WI, 640 acre spacing, 18 stage frac, producing on pump G3 Siirtola 1-28-33H 35.5% WI, 1,280 acre spacing, 30 stage…
Financial Overview
Resolute production and financial data Production Revenue 3,000 2,500 225,000 2,000 Thousands MBoe 175,000 1,500 125,000 1,000 500 75,000 - 25,000 2005 2006 2007 2008 2009 2010 2005 2006 2007 2008 2009 2010…
Strong Balance Sheet Low leverage1: Debt to EBITDA: 1.0x Debt to total market cap: 7.9% Substantial liquidity Four year bank revolver: 300 million reserve-based credit line 82 million drawn2 Downside commodity price…
2011 Guidance 2011 estimated production: 2.95 - 3.05 MMBoe Daily rate 8,000 - 8,400 Boe per day Revenue weighted Volume weighted % Oil 90% % Oil 81% % Oil and NGL 94% % Oil and NGL 86% Operating and overhead expenses Lease…
Resolute Investor Contacts
Resolute investor contacts HB Juengling Vice President Investor Relations (hbjuenglingresoluteenergy.com) Theodore Gazulis Senior Vice President and Chief Financial Officer (tgazulisresoluteenergy.com) Corporate Headquarters: 1675…
Conclusion and Q&A
Appendix A Economic parameters SEC case economic parameters Oil 79.43 per Bbl (NYMEX) Gas 4.38 per MMBtu ( Henry Hub) Strip case economic parameters Oil Gas /Bbl /MMBtu 2011 93.30 4.59 2012 93.95 5.08 2013 92.95 5.33 2014…
Appendix B Reconciliation of non-GAAP measures ( in millions) 2008 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 2010 Q1 2011 Net income (loss) (90.4) (52.9) 4.7 19.1 (7.1) (10.5) 6.2 (16.8) Adjustments: Interest 33.1 4.3 1.1 1.3 1.3 1.2…
Quarterly prices and volumes Product prices and production volumes Quarterly data for 2010 and Q1 2011 2010 2011 First Second Third Fourth First Average prices: Crude oil ( per Bbl) 72.38 71.53 69.76 78.66 87.62 NGL ( per…
25 years of CO2 response at McElmo Creek Unit McElmo Creek Unit CO2 response 1,000,000 Monthly Volume (Bopm) 100,000 Begin CO2 injection 1/85 10,000 1-Jan-75 1-Jan-80 1-Jan-85 1-Jan-90 1-Jan-95 1-Jan-00 1-Jan-05…
Pro forma summary financials ( in millions, except as noted) 2008 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 2010 Q1 2011 Sales volumes Total MBoe 2,823 2,715 1 636 1 661 1 702 1 731 1 2,730 1 699 2 Revenue including hedging 206.0…
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