By OGJ editors
HOUSTON, Aug. 25 – Resolute Energy Corp., Denver, signed a deal with Marathon Oil Corp. to develop 19,000 gross acres in the Bakken oil and gas trend in McKenzie County, ND.
Resolute will earn interests in the acreage by drilling and completing two earning wells by early fourth quarter 2010. Marathon will serve as contract operator of the earning wells and as operator of the contract lands.
The agreement enables Resolute to increase its net lease holdings in the Bakken trend by almost 35% to more than 33,000 net acres in Williams and McKenzie counties.
Resolute entered the Bakken trend in March 2010 via a joint venture with GeoResources Inc., Williston, ND. The first well in the GeoResources joint venture is to spud in September 2010, and two more wells are to be drilled before yearend.