Resolute Energy Corp :
* Following the closing of the acquisition, resolute will receive 100% of all payments from caprock under an earn-out agreement.
* Deal consists of $90 million payable in cash and issuance to Firewheel of 2.1 million shares of co’s common stock, equal to $45 million
* For Q3 of 2016 estimate that Delaware basin properties produced on average between 9,250 and 9,650 boe per day
* Expect to recognize $15 million to $16 million of expense in Q3 of 2016 for stock awards
* Entered into a definitive agreement with Firewheel energy, LLC
* Resolute energy corporation announces $135 million Delaware basin acquisition
* Expect to finance cash portion of acquisition price with net proceeds of a private offering of a newly created class of preferred stock
* Estimate total company production for Q3 of 2016 to be between 16,000 and 16,500 boe per day
* Expect production for the full year 2016 to be between 13,600 and 14,000 boe per day, before accounting for acquisition Source text for Eikon: Further company coverage:
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Source: Reuters.com
