Resolute Energy Corporation Issues Statement in Response to Monarch Alternative Capital Filing
January 26 2018 - 11:10AM
Resolute Energy Corporation (“Resolute” or the “Company”)
(NYSE:REN) today issued the following statement in response to the
public filing of a Schedule 13D and the issuance of a letter to the
Board of Directors of Resolute by Monarch Alternative Capital LP:
Resolute welcomes open communications with its stockholders and
considers input that may advance the Company’s goal of enhancing
value. While it is the Company’s policy not to comment on specific
discussions with stockholders, it is important to note that members
of Resolute’s senior management team have held multiple discussions
with Monarch to better understand its views.
While we expect communications with Monarch may continue, the
Company is focused on executing its proven strategy to enhance
value for all Resolute stockholders. With the completion of the
2017 Bronco acquisition, the recent closing of the sale of
Resolute’s Aneth Field properties, and the success of our 2017
drilling program, we have completed our strategic transformation to
a growing Delaware Basin pure play producer.
As we move forward, we intend to concentrate on accelerating our
development program, generating strong production and cash flow
growth, reducing our cost structure and delivering among the best
returns on capital in the Permian Basin, all while strengthening
our balance sheet. The Resolute Board and management team are
confident that we are well positioned to create significant value
for stockholders.
Cautionary Statements
The statements in this press release relating to our development
program, production growth, cash flows, cost structure, returns on
capital and balance sheet strength are "forward-looking statements"
within the meaning of the safe harbor provisions of the United
States Private Securities Litigation Reform Act of 1995. Resolute
undertakes no obligation and does not intend to update these
forward-looking statements to reflect events or circumstances
occurring after the date of this press release. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. All
forward-looking statements are qualified in their entirety by this
cautionary statement.
About Resolute Energy Corporation
Resolute is an independent oil and gas company focused on the
acquisition and development of unconventional oil and gas
properties in the Delaware Basin portion of the Permian Basin of
west Texas. For more information, visit
www.resoluteenergy.com. The Company's common stock is traded
on the NYSE under the ticker symbol "REN."
Contact:HB JuenglingVice President - Investor
RelationsResolute Energy Corporation303-534-4600, extension
1555hbjuengling@resoluteenergy.com
Andrew Siegel or Joseph SalaJoele Frank, Wilkinson Brimmer
Katcher212-355-4449
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