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Feb 15 2018

EnerCom – s 2017 Conference Day Two Breakout Notes: Resolute Energy – Oil – Gas

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Resolute Energy Breakout Notes

Richard Betz, director and CEO Resolute Energy Corp. (ticker: REN) presented today at EnerCom’s The Oil Gas Conference® 22.

Resolute Energy is a Denver-based E P with primary operations in the Delaware basin in Reeves County Texas. The company also has its foundational oil asset—known as Aneth field—in the Paradox Basin in eastern Utah. The Aneth field is currently under enhanced oil recovery.

During its second quarter, Resolute increased its average production to 24,355 BOEPD from its Q1, 2016 production of 11,865 BOEPD—an increase of 105%. In the company’s Permian assets, the production rose from 13,798 BOEPD in Q1 to 18,383 BOEPD in Q2—a sequential increase of approximately 33%. The company reported Q2 net income of $13.2 million, up from $1.5 million in Q1.

During the company’s breakout session, management was asked the following questions:

  • Can you provide production performance in the Aneth field?
  • Could you elaborate on the type curve descriptions you showed in your slides?
  • You mentioned moving up to three rigs in 2018. What will be the financial outlook for a projected $50 oil price versus $45 oil price market?
  • Out of your allocated 2017 CAPEX, how much is going into effective expenditure?
  • What happens to your inventory in the case when transitioning from three rigs to two rigs? Can you quantify the reduction?
  • Have you experienced much cost inflation this year in comparison to last year?
  • If you move up to three rigs, will you be adding on an additional frac crew?
  • Will you be using regional sand for future completion operations?
  • What is the duration/timeframe from spud to production?
  • Will you be adding on the Wolfcamp C as part of your inventory?
  • With past interference experienced in the Q2, are you confident that this occurrence is acute and wouldn’t be a recurring incident that lowers well productivity?
  • Which completion strategy do you adopt, Plug Perf or Slide Sleeve?
  • Have you made any developments within the southern ridge asset that you recently acquired? Are there presently any near-term drilling commitments on this asset (southern ridge asset)?

Resolute presented at EnerCom’s 2017 The Oil Gas Conference®.

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Important disclosures. The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil Gas 360®. As a result, readers of EnerCom’s reports or Oil Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.

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