29/09/15 "Resolute Energy (NYSE: REN) today announced that it...

29/09/15
"Resolute Energy (NYSE: REN) today announced that it has commenced a limited marketing process for its Gardendale property in Midland and Ector counties, Texas in the Permian Basin. The Company will assess market feedback and potential valuation, among other factors, in determining whether or not to pursue a sale of some or all of its interest in the property.
The Company has engaged Petrie Partners, LLC and BMO Capital Markets as financial advisors in connection with this transaction."


30/09/15
"Burdened by debt, Denver’s Resolute Energy Corp. (REN) is considering the sale of some of its Permian Basin assets—if the price is right.
On Sept. 29, Resolute launched a limited marketing process for a Midland Basin asset in West Texas. The company could gain anywhere between $158- to $237 million from the sale, said Andrew Smith, vice president and senior energy analyst with Global Hunter Securities LLC, in a report.
As with many E&Ps, Resolute is in search of debt relief. In September, the company sacrificed its Powder River Basin assets in a pending $55 million sale. Resolute is using proceeds from asset sales to pay down debt and increase liquidity."


Did some digging:
http://www.resoluteenergy.com/downloads/2014 Resolute bookmarked annual.pdf
(Page 5).
'Within this inventory, 114 wells are located in our core operated Gardendale area in Midland and Ector counties based on' refers to the Midland basis Project of 7,800 net acres.
At $158M (low end) this equates to $20,256 per acre, at $237M (high val) this equates to $32,051 per acre.

In comparison AZZ is $12,088 per acre. The Permian basis certainly seems like the hot spot for M&A activity in the oil and gas space atm.

With the Russia / Syria situation and the hurricane Joaquin about to hit the US, you would have to think there is more upside in the price of oil (though net inventories rose in the US this week). Seems promising to be a holder.