On October 19, 2018, Kimmeridge Energy Management Company, LLC sent a letter to the Board of Directors of the Resolute Energy Corporation. In the letter, Kimmeridge Energy expressed its disappointment with the Company’s lack of progress on conducting a strategic review and failure to improve its financial performance. The letter also stated that Kimmeridge Energy called on the Company to immediately launch a formal process with the goal of selling or merging the Company. Kimmeridge Energy also stated it might seek to appoint independent directors to the Company’s Board of Directors if the Company continues to stall on launching a formal sale or combination process, cutting overhead costs and delivering shareholder value.