Resolute Energy has entered a definitive agreement with undisclosed private sellers to acquire producing and undeveloped oil and gas properties located in Reeves County, Texas, for $160 million. The transaction is subject to customary adjustments and closing conditions and expected to close by May 15, 2017. Under the definitive agreement, the acquired 4,600 net acres include 2,187 net acres situated adjacent to the company's existing operating area (Orla Project Area) and 2,405 net acres in southern Reeves County (Southwest Rim project area). The Orla Project area acquisition includes interests in two 4,500 ft horizontal Wolfcamp wells that currently recover nearly 800 net barrels of oil equivalent per day. This acquisition also includes six operated drilled but uncompleted Wolfcamp wells (DUCs) and one non-operated 10,000 ft lateral Wolfcamp well, which is currently being drilled.