Net production for the period increased to an average of 26,022 barrels of oil equivalent per day (Boe/d), compared to 4,055 Boe/d for the three months ended March 31, 2012. First quarter 2013 production was comprised of 82% oil, 5% natural gas liquids (NGLs) and 13% natural gas.The Company realized 99% of the average NYMEX oil price, 37% of the average NYMEX oil price for NGLs and 88% of the average NYMEX natural gas price during the first quarter of 2013, excluding the impact of derivatives. Lease operating expense for the three month period ending March 31, 2013 decreased by 47% to $10.86 per Boe, versus the comparable period of 2012. During the first quarter of 2013, total operating costs per unit (including lease operating expense, workover and other expense, taxes other than income, and general and administrative expense), after adjusting for selected items (see Selected Operating Data table for additional information), decreased by 35% to $30.71 per Boe, compared to the first quarter of 2012. Floyd C. Wilson, Chairman and Chief Executive Officer, stated, "We are making progress on all fronts – significant operational improvements in the Williston Basin, dramatic improvements in lease operating expense, the recent unveiling of a new core Eagle Ford play in East Texas and encouraging flowback data from our first well in the Utica/Point Pleasant play." Liquidity and Capital Spending As of March 31, 2013, Halcón had liquidity of $716.5 million, which consisted of $0.8 million in cash and $715.7 million of borrowing capacity available on its senior revolving credit facility. During the first quarter of 2013, the Company incurred capital costs of $398.0 million on drilling and completions, $57.7 million on leasehold acquisitions and $94.8 million on infrastructure, seismic and other. Operational Update Bakken/Three Forks Halcón averaged 8 operated rigs (6 in Fort Berthold, 1 in Marmon and 1 in New Home II) and spud 22 wells (17 in Fort Berthold, 1 in Marmon and 4 in New Home II) on its operated acreage in the Williston Basin during the first quarter.