Aneth Field

Aneth Field was discovered in 1956 and developed by Texaco, Superior, Phillips and Shell. Resolute currently estimates that original oil in place was approximately 1.45 billion barrels. Extensive drilling and development activities were undertaken during the 1960s and secondary recovery was instituted only a few years after discovery. The field has been under waterflood since1961 and a major CO₂ flood was begun on the McElmo Creek Unit in 1985. During the 1990s, horizontal drilling and additional CO₂ flooding were instituted in certain areas of the field. However, because the three units were operated by different companies, coordinated field-wide activities were not possible.

Resolute’s field staff consists of more than 75 people, most of whom are Navajo and live in the area. Resolute has identified several areas in which field enhancements are possible, including additional CO₂ flooding, workovers and infrastructure upgrades.

Resolute has completed infrastructure buildout on the majority of the Aneth Unit CO₂ flood. CO₂ flooding began in 2007 and is now underway across the project area. Initial production response has been recognized.

• Resolute has a 62% working interest in the Aneth Unit, a 75% WI in the McElmo Creek Unit and a 59% WI in the Ratherford Unit
• Resolute operates all three units
• Year end 2008 reserves were 99% oil

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At-a-Glance Numbers

(as of December 31, 2008):

Aneth Field covers 67.5 square miles

Reserves are virtually all oil

Total well count:

• 392 gross producing wells (329 vertical, 63 horizontal)
• 131 gross water injection wells (91 vertical, 40 horizontal)
• 192 gross CO₂ injection wells (178 vertical, 14 horizontal)

Net production for first half of 2009 averaged 5,437 barrels oil equivalent per day