This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Halcon Resources Announces Third Quarter 2013 Financial Results And Provides 2014 Outlook

Stocks in this article: HK

East Texas Eagle Ford - El Halcón

The Company operated an average of three rigs in El Halcón during the three months ended September 30, 2013 and expects to operate an average of three rigs during the fourth quarter of 2013. Current expectations are to operate an average of three to four rigs in the play in 2014.

Halcón spudded 13 wells and put 19 wells online during the period. Net production increased by approximately 204% quarter-over-quarter and the Company is currently producing approximately 6,500 Boe/d net from this core area. The Company continues to make significant progress towards optimizing well spacing and completion designs in an effort to maximize recoveries and improve returns. 

Average time from spud to total depth decreased by 37% to 14.4 days during the quarter compared to the second quarter of 2013, and the average cost per foot decreased by 19% over the same period. A new Company record was recently achieved by drilling a well with an 8,000 foot lateral from spud to total depth in 7.3 days.

Halcón is in the process of drilling step out wells and early results are positive. The Company's initial step out well, the Stasny-Honza 1H in Brazos County, Texas located approximately five miles south of the nearest Company-operated producing well, came online in the third quarter producing 1,262 Boe/d. This is a record IP rate for Halcón in this area and further de-risks its acreage position.

The Company is making substantial progress towards its goal of leasing 100,000 net acres or more in the play and currently has approximately 90,000 net acres leased or under contract. There are currently 31 Eagle Ford wells producing, 8 wells being completed or waiting on completion and 3 wells being drilled. 

Utica/Point Pleasant

During the quarter, Halcón tested four wells and connected two wells into sales pipelines. The Company recently connected the Kibler 1H (Trumbull County, Ohio) into a sales pipeline.

6 of 8

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs