Resolute Energy Corporation (REN) reported that the company has acquired 7,900 net acres of leasehold in the Permian Basin. The company is the operator of the acreage which is located in Reeves County, Texas, in the Delaware Basin.
Resolute Energy Corporation said that the acreage is prospective for the Wolfbone play. The company has drilled one well into the Wolfbone and expects to began hydraulic fracturing of the well during the third quarter of 2011.
Resolute Energy Corporation plans to spud a second well in early July 2011, and has obtained permits for three other Wolfbone wells. The company will add a second rig during the third quarter of 2011 and plans eleven Permian Basin wells in 2011.