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
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 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.

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