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, North Dakota.
Under the terms of the agreement, Resolute will earn interests in the acreage by drilling and completing two earning wells, and both earning wells are expected to be drilled early in the fourth quarter of 2010.
Marathon will serve as contract operator of the earning wells and as operator of the contract lands.
Resolute first entered the Bakken trend in March 2010 through a joint venture (JV) with GeoResources, and the first well in the JV is scheduled to spud in September 2010 and two additional wells are expected to be drilled before year-end.
