Resolute Energy gets $100 million bridge commitment, may use revolver

By Wendy Van Sickle

Columbus, Ohio, March 3 – Resolute Energy Corp. has entered into a commitment letter for a $100 million bridge financing facility with BMO Capital Markets for use in a $160 million acquisition of producing and undeveloped oil and gas properties in Reeves County, Texas, according to a press release.

The bridge facility along with a drawdown on Resolute’s revolving credit facility would enable the company to close the acquisition without an immediate long-term debt or equity issuance.

Ultimately, the company said, it expects the financing may have components of long-term debt and equity.

The acquisition is expected to close around May 15.

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

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