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

Bakken/Three Forks

Halcón operated an average of six rigs in the Williston Basin during the third quarter and expects to operate an average of five to six rigs in the play during the fourth quarter of 2013. Current expectations are to operate an average of four to five rigs in the basin in 2014.

The Company spudded 14 wells (7 Bakken/7 Three Forks) and put 13 wells (8 Bakken/5 Three Forks) online in the Fort Berthold area during the three months ended September 30, 2013.   In addition, Halcón spudded eight Bakken wells and put four Bakken wells online in Williams County during the period. The Company also participated in 44 non-operated wells during the quarter with an average working interest of approximately 4%.

The implementation of drilling and completion modifications continues to yield positive results. Average time from spud to total depth decreased by approximately 15% to 17.7 days in the Fort Berthold area and by 17% to 17.1 days in Williams County quarter-over-quarter. Net production from the Williston Basin increased by approximately 40% quarter-over-quarter. All Halcón-operated wells that have been drilled and completed with the modified techniques are performing significantly better than wells drilled and completed with the previous methods. During the third quarter, the Company reported its strongest Bakken IP rate to date, 3,914 Boe/d, in the Fort Berthold area.

Halcón believes increasing stage density and the amount of proppant volume per lateral foot are the primary factors contributing to the improved results in all areas of the Williston Basin. The Company also believes that the use of slickwater as the fluid type for completions has been and will continue to be a contributing factor for improved results. 

Halcón recently completed its first three Bakken wells in the Fort Berthold area using slickwater as the fluid type and results are encouraging. Two wells were drilled in the South Fort Berthold area (McGregory Buttes) and had an average 60-day rate of 1,542 Boe/d, which is 58% higher than the average of all other Company-operated Bakken wells put online in this area in 2013. The third slickwater well was completed in the North Fort Berthold area (Antelope) and recently came online producing 2,820 Boe/d, a 20% improvement compared to the average of all other Company-operated Bakken wells put online in this area in 2013.

4 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 $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


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