Resolute Energy Provides Capital Budget, Production Guidance for 2017

Resolute Energy said Monday that it expects to produce 8.7 million to 10.2 million barrels of oil equivalent in 2017 with a capital budget of $210 million to $240 million. The capital program will include a two rig drilling program in the Delaware Basin targeting 22 gross (20.8 net) wells.

“We expect that 2016 production will be at the high end of our previously announced guidance range,” CEO Nicholas Sutton said. “Comparing anticipated 2017 production to the high end of 2016 guidance, we expect to see production growth of more than 85 percent, and the associated increase in cash flow and resulting organic delevering will allow us to substantially strengthen our balance sheet.”

Leave a Comment