This Day On The Street
Continue to site
ADVERTISEMENT
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

The Kibler 1H was originally scheduled to connect into Blue Racer Midstream's Warren 2 pipeline, but production from this well had to be rerouted as a result of the recent Natrium (West Virginia) gas processing plant fire. A temporary alternate route was finalized and made available for the early October 2013 start-up. The Kibler 1H produced an average of 358 barrels of condensate per day and 1.6 million cubic feet of gas per day into sales over the first 30 days on a restricted 24/64 choke, which is in line with internal expectations. Halcón currently expects production from this well to be flowing into Blue Racer Midstream's Warren 2 pipeline in the first quarter of 2014.

The Company recently spudded its first offset well to the Kibler 1H. Halcón intends to continue to optimize completion techniques on its next few wells in an effort to improve performance and recoveries. In the near-term, the Company anticipates it will limit drilling in this play to the Southwest portion of its acreage in Trumbull and Mahoning Counties, Ohio. 

There are currently three Utica/Point Pleasant wells producing, five wells that have been tested and are shut-in awaiting infrastructure, one well resting and one well being drilled. Halcón expects to operate one rig in the play throughout the remainder of 2013 and anticipates six wells to be flowing into sales pipelines by year end. The Company currently expects to operate one rig in the play in 2014.

2014 Outlook

The following guidance has been adjusted to exclude production from the divestiture of certain non-core conventional assets. 

  Full Year
  2014E
Production (Boe/d)  
Low 38,000
High 42,000
% Oil 80%
% NGLs 5%
% Gas 15%
   
Operating Costs and Expenses ($/Boe)  
Lease Operating & Workover  
Low $8.00
High $10.00
Production Taxes  
Low $6.00
High $8.00
Cash G&A  
Low $7.00
High $9.00
   
Gathering, Transportation & Other  
Low $1.00
High $2.00
   
Drilling & Completion Capex - Excluding A&D ($ in billions) (1) $1.1
(1) Excludes capitalized interest/G&A and discretionary capital related to leasehold acquisitions, infrastructure and other.

Note: Guidance is forward-looking information that is subject to a number of risks and uncertainties, many of which are beyond the Company's control. See "Forward-Looking Statements" section below.

Conference Call and Webcast Information

Halcón Resources Corporation (NYSE:HK) has scheduled a conference call for Tuesday, November 5, 2013, at 10:00 a.m. EST (9:00 a.m. CST). To participate in the conference call, dial (877) 810-3368 for domestic callers, and (914) 495-8561 for international callers a few minutes before the call begins and reference Halcón Resources conference ID 60080252. The conference call will also be webcast live over the Internet on Halcón Resources' website at http://www.halconresources.com in the Investor Relations section under Events & Presentations. A telephonic replay of the call will be available approximately two hours after the live broadcast ends and will be accessible until November 12, 2013. To access the replay, dial (855) 859-2056 for domestic callers or (404) 537-3406 for international callers, in both cases referencing conference ID 60080252. 

About Halcón Resources

Halcón Resources Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States.

7 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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs