Resolute Energy ‘s $75 Million Additional Notes Offering


Simpson Thacher represented the initial purchaser, Goldman Sachs & Co. LLC, in connection with an unregistered offering under Rule 144A/Regulation S by Resolute Energy Corporation of $75 million aggregate principal amount of additional 8.5% Senior Notes due 2020.

The notes were issued under the same indenture as the $525 million aggregate principal amount of Resolute’s 8.5% Senior Notes due 2020 issued on April 25, 2012, December 10, 2012 and May 12, 2017 and constitute part of the same series as such existing notes. The offering closed on April 9, 2018.

Resolute is an independent oil and gas company focused on the acquisition and development of unconventional oil and gas properties in the Delaware Basin portion of the Permian Basin of West Texas. Resolute intends to use a portion of the net proceeds from the offering to repay the borrowings currently outstanding under its senior credit facility. The remainder of the net proceeds will be used for general corporate purposes, including capital expenditures related to Resolute’s previously announced 2018 plan. The company, led by

Nicholas J Sutton, Richard F Betz and Theodore Gazulis, in 2017 recorded $307 Million Revenues.

The Simpson Thacher team included David Azarkh (Picture) and Grady Chang (Capital Markets); Jonathan Cantor and Christopher Murray (Tax); Michael Isby (Environmental); Erin Murphy (Executive Compensation and Employee Benefits); Mark Skerry (Regulatory Compliance); Kate Stein (IP); and Andrew Pagliughi (Blue Sky).

Involved fees earner: David Azarkh – Simpson Thacher & Bartlett; Grady Chang – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Christopher Murray – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Erin Murphy – Simpson Thacher & Bartlett; Mark Skerry – Simpson Thacher & Bartlett; Andrew Pagliughi – Simpson Thacher & Bartlett; Kate Stein – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Goldman, Sachs & Co.;