Halcon Provides Tuscaloosa Marine Shale (

HOUSTON, TEXAS, June 9, 2014 (GLOBE NEWSWIRE) -- Halcón Resources Corporation (NYSE: HK)("Halcón" or the "Company") today provided an operational updaterelated to its 314,000 net acre position in the Tuscaloosa MarineShale ("TMS").

The Horseshoe Hill 11-22H-1 (92% WI) well inWilkinson County, Mississippi, achieved a 24-hour average initialproduction rate of 1,208 barrels of oil per day and 1.1 millioncubic feet per day of 1,551 BTU natural gas on a 19/64 inchchoke.  Based on gas composition analysis and assuming fullethane recovery, the Company estimates that the well would producean additional 212 barrels of NGLs per day for a total 24-houraverage initial production rate of 1,548 barrels of oil equivalentper day.  The well has a 7,060' effective lateral and wascompleted with 24 frac stages, 21 of which were effectively pumpedand 3 of which were partially pumped (less proppant placed thandesigned).  Halcón drilled this well in 39 days (spud toTD).

The Company has drilled the Black Stone 4H-2(87% WI) well in Wilkinson County, Mississippi, in 28 days (spud toTD) with a 5,400' lateral.  Completion operations are expectedto commence this month.

Halcón recently spudded the Fassman 9H-1 (84%WI), located in Wilkinson County, Mississippi, with a second rigand is planning a 6,030' lateral for this well.

The Company has also spudded the SD Smith 1H(62% WI), located in Wilkinson County, Mississippi, and is planninga 7,660' lateral for this well. 

Halcón plans to spud 10 to 12 operated wells inthe TMS running an average of two rigs in 2014.  The Companyalso expects to participate in 15 to 20 non-operated TMS wells in2014.

In addition, Halcón announced the signing of adefinitive agreement with credit funds and accounts managed byaffiliates of Apollo Global Management, LLC (NYSE: APO) (togetherwith its consolidated subsidiaries, "Apollo"), which will invest upto $400 million in the Company's wholly owned subsidiary, HK TMS,LLC ("HK TMS").  Upon closing, HK TMS will hold all ofHalcón's acreage in Mississippi and Louisiana that is prospectivefor the TMS formation.  The Company holds 100% of the commonshares of HK TMS and is the sole manager of HK TMS.  Apollowill contribute $150 million in cash consideration for 150,000 ofHK TMS preferred shares, and under certain circumstances, mayacquire up to an additional 250,000 preferred shares of HK TMS onthe same terms.  Holders of the HK TMS preferred shares willreceive quarterly cash dividends of 8% perannum.     

In conjunction with the issuance of thepreferred shares, HK TMS agreed to assign a 4.0% overriding royaltyinterest ("ORRI"), subject to reduction to 2.0% under certaincircumstances, in 75 net wells to be drilled and completed on itsTMS acreage. The number of wells subject to the ORRI will increaseto the extent that Apollo subscribes for additional preferredshares, with a maximum of 200 net wells subject to such ORRI ifApollo subscribes for the full additional 250,000 preferredshares.

Jefferies LLC acted as exclusive financialadvisor to Halcón in connection with the TMS partnership withApollo.

The Company's midstream subsidiary, Halcón FieldServices, has acquired rights to develop an oil handling terminalat the Port of Natchez, a location with direct access to more thantwo million barrels per day of refining capacity on the LowerMississippi River.  The Port of Natchez has existinginfrastructure including loading docks, pipelines and direct accessto the Canadian National railroad. 

Floyd C. Wilson, Chairman and Chief ExecutiveOfficer, commented, "We are off to a solid start in the TMS, andthe capital from our partnership with Apollo will help us toaccelerate activity.  The TMS is quickly evolving into aworld-class oil play."

Forward-Looking Statements

This release may contain forward-lookingstatements within the meaning of Section 27A of the Securities Actof 1933 and Section 21E of the Securities and Exchange Act of1934.  Forward-looking statements are basedon current beliefs and expectations and involvecertain assumptions or estimates that involve variousrisks and uncertainties, such as financial market conditions,changes in commodities prices and the other risks discussed indetail in the Company's Annual Report on Form 10-K for the yearended December 31, 2013 and other subsequent filings with theSecurities and Exchange Commission.  Readers should not placeundue reliance on any such forward-looking statements, which aremade only as of the date hereof.  Halcón has no duty, andassumes no obligation, to update forward-looking statements asa result of new information, future events or changesin the Company's expectations.

About Halcón Resources

Halcón Resources Corporation is an independentenergy company engaged in the acquisition, production, explorationand development of onshore oil and natural gas properties in theUnited States.
CONTACT: Scott M. Zuehlke         VP, Investor Relations         Halcon Resources         (832) 538-0314

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