Cimarex to use revolver borrowings to help fund Resolute Energy buy

By Sarah Lizee

Olympia, Wash., Nov. 19 – Cimarex Energy Co. plans to use borrowings under its revolving credit facility to help fund its roughly $1.6 billion acquisition of Resolute Energy Corp., according to a press release.

Cash on hand, including proceeds from a sale of assets in Ward County, Texas, will also be used to finance the transaction.

Cimarex is an oil and gas company based in Denver. Resolute is also a Denver-based oil and gas company.

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