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Resolute Energy Corporation
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2019 Resolute Energy & Cimarex Merger
| Richard Betz | Page 4 of 11 |
May 03, 2025
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Document:
"2019 Resolute Energy & Cimarex Merger"
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Transaction overview and highlights ? Resolute/Cimarex merger announced November 19, 2018 ? 60% stock and 40% cash 1 ? 0.2366 shares of Cimarex stock and $14.00 cash per Resolute share, assuming full proration ? Transaction will be considered tax free reorganization 2 ? Represented a 15% premium to Resolute’s prior day close and an 18% premium to 30 day VWAP ? Fully supported by voting agreements representing 26% of outstanding shares 4 ? Including Monarch Alternative Capital, Goff Capital, RR Advisors Page 4 1. Assuming November 16, 2018 closing prices 2. No gain or loss will generally be recognized upon the exchange of Resolute shares for Cimarex shares except to the extent of cash consideration received Note: As of date of announcement Operating Metrics Pro Forma Enterprise Value ($BN) 1 $1.6 $9.1 $10.7 Delaware Basin Net Acres 21,100 259,000 280,100 Reeves County Net Acres 21,100 61,853 82,953 Production (MBoe/d) 3 34.8 218.6 253.4 Oil (MBbl/d) 3 15.8 63.9 79.6 Upside potential in Cimarex stock