Nicholas J. Sutton, Chief Executive Officer of Resolute Energy Corporation (NYSE: REN), presented today at EnerCom’s The Oil & Gas Conference® 20.
Resolute was founded as a private company in 2004 to acquire and operate large-scale oil and gas properties, with a particular focus on oil. Resolute’s producing assets are Aneth Field in the Paradox Basin of Utah, Hilight Field in the Powder River Basin of Wyoming, and in the Permian Basin of west Texas and New Mexico.
Starting from 2013, Resolute began to upgrade its operations in Aneth Field and Permian Basin. Owing to those upgrades, Resolute increased its production to 13,528 Boe/d, up 10% over the same quarter in 2014 and decreased the quarterly G&A 31% compared to 2014, to $3.87 per Boe.
During the company’s breakout session, management was asked the following questions:
- During your presentation session, you mentioned the debt you are carrying. What is your plan to reduce leverage? How do you manage your assets and reduce your borrowing risks?
- What is the status of your asset? Do you have more plans to upgrade your drilling rigs in the Delaware Basin?
- Could you elaborate more about your gas drilling business? Are you going to increase your production in Q3’15 and in 2016?
- You mentioned the production curve during the presentation. Do you think your production amount in the Delaware Basin is in the right place? What is your expectation?
- Most firms focus more on their Wolfcamp A bench but you focus more on the Wolfcamp B. Is there any reason for that?
- What is your outlook for the oil and gas market? What are you doing to do to react this trend?
- You did a good job to reduce your cost, but as you increase your production and open up more wells, LOE is going to increase. Do you have further ideas to cut your costs? How do you manage your service team and third parties to decrease your cost?
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