Resolute Energy to repay borrowings with proceeds from asset sale

By Marisa Wong

Morgantown, W.Va., Aug. 2 – Resolute Energy Corp. will repay all amounts outstanding under its second amended and restated credit agreement dated March 30, 2010 using proceeds from an asset sale, according to an 8-K filing with the Securities and Exchange Commission.

Remaining proceeds from the sale of the company’s interests in the Mustang and Appaloosa projects in Reeves County, Texas, will be used for general corporate purposes. Wholly owned subsidiary Resolute Natural Resources Southwest, LLC closed the transactions on Monday and received a total consideration of about $36.2 million.

Resolute Energy is a Denver-based oil and gas company.

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