This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Halcon Resources Announces Fourth Quarter And Full Year 2012 Financial Results And Provides Operational Update

2012 Average Net Daily Production Increases by 128%

Proved Reserves Grow by 417%

Bakken/Three Forks and Woodbine Well Results Continue to Improve

HOUSTON, TEXAS, Feb. 27, 2013 (GLOBE NEWSWIRE) -- Halcón Resources Corporation (NYSE:HK) ("Halcón" or the "Company") today announced its fourth quarter and full year 2012 financial results and provided an operational update.

Fourth Quarter and Full Year 2012 Financial Results

Halcón generated revenues of $124.7 million for the quarter ended December 31, 2012, compared to $25.6 million for the quarter ended December 31, 2011. Revenues for the full year 2012 were $247.9 million, compared to $103.7 million for the full year 2011. The increases were primarily attributable to incremental production volumes related to the acquisitions of GeoResources, Inc. ("GeoResources"), certain producing and undeveloped assets in East Texas ("East Texas Assets") and two entities owning certain producing and undeveloped assets in the Williston Basin ("Williston Basin Assets").

Production for the three months and full year ended December 31, 2012 increased by 349% and 128% to 18,348 barrels of oil equivalent per day (Boe/d) and 9,404 Boe/d, respectively, compared to the same periods of 2011. Fourth quarter 2012 production was comprised of 75% oil, 6% natural gas liquids (NGLs) and 19% natural gas. The Company divested approximately 500 Boe/d of certain conventional assets in South Louisiana in November 2012, which impacted quarterly production by approximately 150 Boe/d. In addition, due to gas infrastructure constraints, approximately 6 million cubic feet per day of net gas production (primarily related to the recently acquired Williston Basin Assets) is currently being flared. The gas flaring impacted production in the fourth quarter 2012 by approximately 300 Boe/d. 

Taking into account the effect of hedges, Halcón realized 104% of the average NYMEX oil price, 44% of the average NYMEX oil price for NGLs and 102% of the average NYMEX natural gas price during the fourth quarter 2012. Similarly, for the full year 2012, the Company realized 99% of the average NYMEX oil price, 44% of the average NYMEX oil price for NGLs and 129% of the average NYMEX natural gas price.

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.72 -0.56%
FB $119.49 1.43%
GOOG $711.12 1.38%
TSLA $214.93 1.61%
YHOO $37.23 0.79%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs