Halcón Resources Announces Closing of "El Halcón" - East Texas Eagle Ford Divestiture
March 09 2017 - 6:37PM
Halcón Resources Corporation (NYSE:HK) (“Halcón” or the “Company”)
announced today it closed the divestiture of its El Halcón assets
in East Texas for $500 million in cash, subject to certain closing
adjustments.
The effective date of the divestiture is January
1, 2017. As of December 31, 2016, estimated proved reserves
from the El Halcón assets were approximately 35.1 MMBoe, or 24% of
Halcón’s estimated year-end 2016 proved reserves. Current net
production from the El Halcón assets is approximately 5,600
boe/d.
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.
For more information contact Quentin Hicks,
Senior Vice President of Finance & Investor Relations, at
832-538-0557 or qhicks@halconresources.com.
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