HOUSTON, May 23, 2013 (GLOBE NEWSWIRE) -- Halcón Resources Corporation (NYSE:HK) ("Halcón" or the "Company") today provided an operational update specific to its acreage in Northeast Ohio and Northwest Pennsylvania, the Company's core area in the Utica/Point Pleasant play.
The Yoder 2H (90% WI), located in Mercer County, Pennsylvania, is currently resting and the Company plans to begin testing this well on May 30, 2013. This well was drilled to a total measured depth of 10,825 feet, had an effective lateral length of 3,810 feet and was completed with 14 frac stages.The Kibler 1H (100% WI), located in Trumbull County, Ohio, is currently resting. This well was drilled to a total measured depth of 14,257 feet, had an effective lateral length of 6,734 feet and was completed with 26 frac stages. Halcón continues to delineate its Utica/Point Pleasant acreage position and expects the process to be substantially complete by the fourth quarter of 2013. The Company plans to adhere to a 60 day resting period on all wells throughout the delineation phase. The focus remains on building an inventory of approved/permitted multi-well pads in preparation for a full scale development program. There are currently three Utica/Point Pleasant wells producing/testing, three wells resting, one well being completed and one well being drilled. Floyd Wilson, Chairman and Chief Executive Officer, commented, "I am excited with our early stage Utica/Point Pleasant results. Our position in this part of the Utica/Point Pleasant play is highly prospective, in my opinion, and these results further validate our original thesis. We will refine our drilling and completion techniques in an effort to drill longer laterals, lower costs and increase recoveries. Halcón Field Services continues to evaluate infrastructure solutions and will be prepared to act accordingly based on the information we gather throughout our delineation phase." A graph accompanying this release is available at http://media.globenewswire.com/cache/18320/file/19899.pdf Forward-Looking Statements This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as "expects", "believes", "intends", "anticipates", "plans", "estimates", "potential", "possible", or "probable" or statements that certain actions, events or results "may", "will", "should", or "could" be taken, occur or be achieved. Additionally, initial production rates, average 30 day production rates and improvements mentioned herein are not necessarily indicative of future production rates or performance. Forward-looking statements are based on current beliefs and expectations and involve certain assumptions or estimates that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to, those set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and other filings submitted by the Company to the U.S. Securities and Exchange Commission ("SEC"), copies of which may be obtained from the SEC's website at www.sec.gov or through the Company's website at www.halconresources.com . Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. The Company has no duty, and assumes no obligation, to update forward-looking statements as a result of new information, future events or changes in the Company's expectations. 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.
CONTACT: Scott M. Zuehlke VP, Investor Relations Halcon Resources (832) 538-0314