Resolute Energy Corporation (Resolute) is an independent oil and gas company. Resolute is engaged in the exploration, exploitation and development of its oil and gas properties located in Utah (its Aneth Field Properties), Wyoming (its Wyoming Properties), North Dakota (its North Dakota Properties) and Texas (its Texas Properties). During the year ended December 31, 2011, the Company�s oil sales consisted of approximately 90% of revenue. As of December 31, 2011, Resolute�s estimated net proved reserves were approximately 64.8 million equivalent barrels of oil. As of December 31, 2011, Resolute sold all of its crude from its Aneth Field Properties to Western Refining Southwest, Inc. (Western), a subsidiary of Western Refining, Inc. In April 2012, Denbury Resources Inc. sold certain non-operated assets in the Greater Aneth Field in the Paradox Basin of Utah to the Company and the Navajo Nation Oil and Gas Company.