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 Third Quarter 2013 Financial Results And Provides 2014 Outlook

Halcón Reports 3Q13 Average Daily Production of 37,707 Boe/d; +237% Year-Over-Year
Cameron/Torreys Development Plan
Cameron/Torreys Development Plan -- HK 87.5% WI

Company Guiding to > 40% Pro Forma Production Growth in 2014

Halcón Expects > 20 % Reduction in Drilling & Completion Capex in 2014

New Company Record IP Rates; 3,914 Boe/d in Williston Basin and 1,262 Boe/d in El Halcón

Halcón Announces Positive Early Stage Downspacing Results in Williston Basin

HOUSTON, Nov. 4, 2013 (GLOBE NEWSWIRE) -- Halcón Resources Corporation (NYSE:HK) ("Halcón" or the "Company") today announced its third quarter 2013 financial results and provided guidance for 2014.

Halcón generated total revenues of $305.0 million for the three months ended September 30, 2013, which represents an increase of 316% compared to the three months ended September 30, 2012. Net production for the period increased 237% year-over-year to an average of 37,707 barrels of oil equivalent per day (Boe/d). Third quarter 2013 production was comprised of 83% oil, 6% natural gas liquids (NGLs) and 11% natural gas.

The Company realized 95% of the average NYMEX oil price, 96% of the average NYMEX natural gas price and 34% of the average NYMEX oil price for NGLs during the third quarter of 2013, excluding the impact of derivatives.

Halcón reported cash flow from operations before changes in working capital of $179.3 million, or $0.39 per diluted share for the three months ended September 30, 2013 (see Condensed Consolidated Statements of Cash Flows for a reconciliation to net cash provided by operating activities). After adjusting for selected items (see Condensed Consolidated Statements of Cash Flows and Selected Item Review and Reconciliation table for additional information), cash flow from operations before changes in working capital was $179.6 million for the quarter, or $0.39 per diluted share, compared to $29.2 million, or $0.15 per diluted share for the same period of 2012.

1 of 8

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 $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs