The acreage is located in Reeves County, Texas, on the western side of the Permian Basin.
The company has drilled its first well in the acquired leasehold to a total depth of 12,250 feet and expects to undertake a multi-stage fracing during the third quarter and spud its second well in early July.
Resolute Energy has permitted three additional locations and plans to add a second rig to the drilling program, also in the third quarter.
Resolute Chairman and CEO Nicholas J. Sutton said the oil-prone Wolfbone play is an exciting new opportunity for Resolute and the company has plans to further diversify its operations.
"We have been able to obtain permits for our initial wells, and have secured rigs and other services, supplies to support our drilling program in the play" Sutton added.
