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 First Quarter 2013 Financial Results And Provides Operational Update

There are currently seven Eagle Ford wells producing, one well being completed and three wells being drilled.

Utica/Point Pleasant

The Company averaged two operated rigs, spud four wells and completed four wells in Ohio and Pennsylvania during the three months ended March 31, 2013.

Halcón is in the process of delineating its Utica/Point Pleasant acreage position and expects the process to be completed by the fourth quarter of 2013. Production testing has commenced on the Phillips 1H in Mercer County, Pennsylvania, and the Company anticipates that four wells will have been tested or will be in the testing phase by the end of May 2013.

The Phillips 1H commenced flow back on April 8, 2013 and measured first hydrocarbons on April 14, 2013. Halcón has maintained a continuous flowback on the well and rates continue to increase. While still recovering frac load, early stage flow rate data is encouraging. The oil being produced is 52 degree API and the natural gas being produced is 1,330 BTU/SCF.

The Company is focused on building an inventory of approved/permitted multi-well pads in preparation for a full scale development program to optimize drilling and completion costs.

There is currently one Utica/Point Pleasant well producing, four wells resting, one well being completed and two wells being drilled.


During the quarter, Halcón averaged 5 operated rigs and spud 11 wells on its Woodbine acreage.

The Company has implemented a standardized measure for calculating initial flow rates. Woodbine wells are low energy wells that do not achieve maximum production until artificial lift equipment is installed. Initial rates will not be reported until a well has been online for 45 days, at which time the initial rate is calculated based on the highest 7 day average.

Halcón brought ten Woodbine wells online during the period (eight in Leon County and two in Madison County), five of which have been online long enough to report flow rates using the new standardized measure. Four of the five wells are in Leon County and one is in Madison County. The average initial and 30 day rates for the applicable wells completed in Leon County were 503 Boe/d (95% oil) and 438 Boe/d (96%) oil, respectively. The initial rate for the well completed in Madison County was 358 Boe/d (81% oil).

5 of 7

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 $93.99 0.31%
FB $102.01 0.10%
GOOG $682.40 -0.10%
TSLA $151.04 0.38%
YHOO $27.04 1.05%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs