Resolute Energy Corp. said Friday its oil and gas reserves increased 31 percent and were worth an estimated $480 million at the end of last year. The Denver energy company said it finished 2009 with total reserves of 64.4 million barrels of oil equivalent. That includes 58.1 million barrels of crude oil and liquefied natural gas and 38.2 billion cubic feet of natural gas. At the end of 2009, 54 percent of its reserves were proved developed. Oil and liquefied natural gas constituted 90 percent of the company's total proven reserves. Resolute, an independent oil and gas company, operates producing properties in Utah, Wyoming and Oklahoma and owns exploration properties in North Dakota, Wyoming and Alabama. Its shares slipped 7 cents to $11.46 in morning trading Friday. Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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