HOUSTON, Nov. 09, 2016 (GLOBE NEWSWIRE) -- Halcón Resources Corporation (NYSE:HK) ("Halcón" or the "Company") today announced its third quarter 2016 results. Production for the three months ended September 30, 2016 averaged 34,185 barrels of oil equivalent per day (Boe/d). Production was comprised of 76% oil, 13% natural gas liquids (NGLs) and 11% natural gas for the quarter. The Company shut-in approximately 7,000 Boe/d of net production during the third quarter due to low commodity prices. This production was brought back online in early October 2016. Halcón expects fourth quarter net production to be between 39,000 and 41,000 Boe/d and D&C capex to be approximately $45 to $50 million. Halcón generated total revenues of $102.5 million for the third quarter of 2016. In addition, Halcón realized a net gain on settled derivative contracts of $80.0 million during the quarter. Excluding the impact of hedges, Halcón realized 89% of the average NYMEX oil price, 18% of the average NYMEX oil price for NGLs and 54% of the average NYMEX natural gas price during the third quarter of 2016. Total operating costs per unit were $24.89 per Boe during the third quarter. After adjusting for selected items, total operating costs per unit (see Selected Operating Data table for additional information), were $17.33 per Boe and $17.12 per Boe for the three and nine months ended September 30, 2016, respectively, a 5% decline from the nine month period ended a year earlier. Liquidity and Capital Spending As of September 30, 2016 Halcón's liquidity was approximately $369 million, which consisted of $367 million of undrawn capacity on the Company's revolver plus $2 million in cash and cash equivalents. The Company's senior revolving credit facility is scheduled for its next borrowing base redetermination in May of 2017. Based on current strip pricing, Halcón is anticipated to generate positive cash flow for the remainder of 2016 and be approximately break-even for 2017 based on its preliminary 2017 drilling plan of one rig growing to two rigs in April of 2017.