Resolute’s Texas properties were acquired in 2011 and are located in Reeves, Howard and Martin counties, in the Permian Basin of West Texas. In Reeves County in the Delaware Basin, Resolute controls approximately 23,100 gross (13,600 net) acres, prospective primarily for Wolfbone production.
Resolute placed 2 gross (1.1 net) wells on production during the first quarter, bringing its total producing well count to 68 gross (51.5 net). Additionally, at the end of the first quarter there were 5 gross (3.3 net) wells drilled and waiting on completion and hookup, which are expected to be on production during the second quarter. A continuous drilling program is maintained in the basin, and at the end of the quarter 1 gross (0.8 net) wells were still drilling.