Resolute Energy tweaks credit agreement's leverage ratio covenant

By Marisa Wong

Madison, Wis., Dec. 31 - Resolute Energy Corp. entered into a fifth amendment to its second amended and restated credit agreement dated March 30, 2010 with Wells Fargo Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment, which was entered into on Dec. 27, alters the credit agreement's leverage ratio covenant to increase the maximum ratio to 4.25 to 1.00 for the fiscal quarter ended Dec. 31 and to have this covenant measured as of the last day of each fiscal quarter.

The amendment was made in connection with Resolute's recently completed acquisition of a partial interest in oil and gas properties in the Permian Basin near Midland, Texas.

The oil and gas company is based in Denver.

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