|
Quotes & Info
|
| REN > SEC Filings for REN > Form 8-K on 18-Jan-2013 | All Recent SEC Filings |
18-Jan-2013
Other Events
Closing of Sale of Working Interests in Greater Aneth Field to NNOG
Resolute Energy Corporation ("Resolute") today announced that it had closed the transfer of 5% of Resolute's interest in Greater Aneth Field to Navajo Nation Oil and Gas Company ("NNOG"). Resolute and NNOG entered into a purchase and sale agreement in April 2012 pursuant to which NNOG exercised an option to purchase 10% of the interest owned by Resolute in Greater Aneth Field. This option was exercised for cash consideration of $100 million, including a $10 million performance deposit and subject to customary purchase price adjustments. The purchase and sale agreement provided that the transaction would be closed and paid for in two equal transfers of 5% each, scheduled for July 2012 and January 2013. The first of these two transfers was consummated on July 2, 2012 and Resolute received cash of approximately $45 million (including purchase price adjustments) for the 5% interest that was transferred at that time. The second of these transfers was consummated on January 18, 2013 and Resolute received approximately $48 million (including purchase price adjustments) for the 5% interest that was transferred at that time. Please refer to Resolute's press release dated April 11, 2012, for further information on the transaction.
|
|