Resolute Natural Resources Company, LLC is an independent oil and gas company and engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the United States. It owns interest in the Greater Aneth Field, an oil producing field located in the Paradox Basin on the Navajo Reservation in southeast Utah; and Hilight Field and related properties located in Powder River Basin of Wyoming. The company also owns properties in eastern Wyoming and Oklahoma that produce oil and gas; and holds exploration leasehold rights in Wyoming’s Big Horn Basin and Alabama’s Black Warrior Basin, as well as holds interest in leasehold acres in Williams County, North D...
Denver, CO 80202
Founded in 2004
Resolute Natural Resources Company, LLC, Western Refining Southwest, Inc. and Navajo Nation Oil and Gas Company Enter into New Agreement Relating to the Sale and Purchase of Crude Oil Produced from Greater Aneth Field
Jul 11 14
On July 7, 2014, Resolute Natural Resources Company, LLC, Western Refining Southwest Inc. and Navajo Nation Oil and Gas Company entered into a new agreement relating to, among other matters, the sale and purchase of crude oil produced from Greater Aneth Field. The new agreement supersedes that certain Crude Oil Purchase Agreement dated August 31, 2011 between Western, as purchaser, and Resolute Natural Resources Company as seller which Original Agreement was filed with the Securities and Exchange Commission on September 7, 2011. The new agreement covers volumes of up to 8,000 barrels per day (Base Volume) and an additional volume of up to 3,000 barrels per day (Additional Volume). The discount to the NYMEX price is $9.50 per barrel, with future adjustments to reflect any increase in transportation costs from the field to the refinery. The new agreement is effective until December 31, 2014, with the base volume commencing on July 1, 2014 and the additional volume commencing on June 1, 2014. Resolute Natural Resources Company, Western and Navajo Nation Oil and Gas Company are currently in negotiations regarding a crude oil purchase agreement for the two-year period beginning on January 1, 2015 and expect to finalize and execute this agreement prior to the expiration of the new agreement.