Hilight Wyoming Colorado FBR Capital Markets 2009 Fall Investor Conference Aneth New Mexico NYSE: REN
Resolute Investor Contacts Nicholas J. Sutton Chairman and Chief Executive Officer James M. Piccone President, General Counsel and Secretary Theodore Gazulis Senior Vice President and Chief Financial Officer Richard F. Betz Senior…
Company Snapshot y Fast-growing, oil-weighted oil and gas exploration and production company focused on domestic onshore properties y Experienced management team has assembled concentrated, operated assets with substantial organic…
Why Invest in Resolute y Experienced management, successful track record both public and private companies y Attractive oily asset base: Reserves 91% oil, 3% NGL, 6% gas y Significant organic upside through the application of proven…
Proven Management Team y Experienced, cohesive management team Long history of working together to build HS Resources as a public company y HS Resources IPO in 1992 at 14.00 per share (155 million firm value) Sold to Kerr-McGee in…
Hilight Wyoming Colorado Business Overview Aneth New Mexico
Asset Overview y Proved reserves: 49.3 MMBoe1 Mowry Shale/Frontier Big Horn Basin 70,800 Net Acres Hilight Field y YTD 2009 net production: 7,467 Boe per Powder River Basin day y Proved R/P: 18 years - PD R/P: 11 years y Long…
Resolute Aneth Field Properties Reserves by product Reserves by category Gas NGL 0% 1% PDP PUD 32% 40% Oil PDNP 99% 28% Location Map Proved reserves: 43.9 MMBoe1 Utah 2 miles YTD 2009 production: 5,368 Boe per day PDNP…
Existing and New CO2 Flood Projects Aneth Aneth Unit Unit Pilot Pilot CO CO22 flooded flooded since since 1998 1998 Aneth Aneth Phases Phases 1, 1, 2, 2, 33 All All construction construction capital capital has has been…
McElmo Creek Unit Historical Performance 10,000,000 Primary Secondary Recovery Waterflood Enhance Recovery Enhanced RecoveryCO CO22Flood Flood Depletion 1,000,000 Monthly Volume Incr 100,000 eme ntal prod u ctio n…
CO2 Response in Aneth Unit Phases 1, 2 and 3 TB 20+21 Waterflood Base Oil Rate TB 20+21 Running Average Oil Rate Wells Showing Strong Response 2,700 20 2,600 18 900 Bopd response to date 2,500 16 2,400 14 2,300 12 Rate…
Significant Organic Upside Resolute Aneth net production and capital expenditure forecast PDP PDNP PUD 5,000 % CAGR: 16.3 Annual Production 4,000 (MBoe) 3,000 2,000 1,000 0 2010 2011 2012 2013 2014 PDP PDNP PUD…
Overview of Resolute CO2 Operations Close to largest US CO2 source Upside from improved recovery y Incremental 1% recovery results in 16% increase to Resolute proved reserves (8.1 MMBbl net) y Aneth Field is thoroughly mapped and…
Wyoming - Hilight Field Reserves by product Reserves by category PUD 1% Oil 22% PDNP 38% Gas 52% PDP 61% NGL 26% Location Map Wyoming 20 miles Total net reserves: 5.4 MMBoe y Acquired Hilight Field in July 2008 y…
Wyoming - Hilight Field Growth Opportunities y Muddy B horizontal drilling Prior operator drilled three horizontal wells; results pending y Niobrara / Turner sandstones Termo 820 MBbl and 397 MMcf produced from 10 wells in Hilight…
Operations Update y Encouraged by the increasing response in tertiary expansion project in the Aneth Field Seeing increasing levels of production in Aneth Phases 1, 2 and 3 areas Conducting reservoir conformance work to maximize CO2…
Hilight Wyoming Colorado Financial Overview Aneth New Mexico
Pro Forma Summary Financials ( in millions, except as noted) 2007 2008 9 mo 2009 Sales volumes Total MBoe 2,760 2,823 2,0391 Revenue including hedging 170.9 206.0 102.12 Expenses Operating expenses3 46.1 56.6 34.7 Taxes 20.5…
Pro Forma Margins/Cost Structure ( per Boe) 2007 2008 9 mo 2009 Revenues 61.91 72.99 50.071 Expenses Operating expenses2 16.69 20.06 17.00 Taxes 7.42 10.42 6.60 G&A3 2.15 3.29 1.89 Total expenses 26.26 33.77 25.49 Operating…
Hilight Wyoming Colorado Conclusion and Q&A Aneth New Mexico
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