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HOUSTON, TEXAS, Sept. 5, 2012 (GLOBE NEWSWIRE) -- Halcón Resources Corporation (NYSE: HK) ("Company") today announced the successful completion of the AM Easterling-Gresham A 1H in Leon County, Texas.
The AM Easterling-Gresham A 1H (92% working interest) was completed in the Woodbine formation and had an initial gross production rate of approximately 942 barrels of oil equivalent per day (Boe/d), or 919 barrels of oil and 139 mcf of natural gas, on a 32/64 choke. Average daily production from the well over its first seven days was approximately 831 Boe/d (97% oil). The well was drilled to a total measured depth of 14,265 feet, including a 6,730 foot lateral, and was completed with 24 stages.
The Company is currently running three operated rigs in its Woodbine/Eagle Ford play in East Texas and expects to add two additional operated rigs by mid-September.
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as "expects", "believes", "intends", "anticipates", "plans", "estimates", "potential", "possible", or "probable" or statements that certain actions, events or results "may", "will", "should", or "could" be taken, occur or be achieved. Forward-looking statements are based on current beliefs and expectations and involve certain assumptions or estimates that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. The Company has no duty, and assumes no obligation, to update forward-looking statements as a result of new information, future events or changes in the Company's expectations.
Halcón Resources Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States.
CONTACT: Scott M. Zuehlke
VP, Investor Relations