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Halcón Resources Corporatio Message Board

  • rgchjr1945 rgchjr1945 Jun 10, 2013 9:48 AM Flag

    Operational update released this AM

    This was a summary on IN Play. Glogalnewswire has a much more extensive update, including Utica.

    7:32AM Halcon Resources provides operational update; says co is currently operating 17 rigs across its holdings and is producing ~ 30,000 barrels of oil equivalent per day (HK) 5.33 : The co is currently operating 17 rigs across its holdings and is producing approximately 30,000 barrels of oil equivalent per day. Drilling and completion results continue to improve and there are 27 wells currently being completed or waiting on completion. Co continues to identify and acquire specific acreage in its core areas. The co is operating eight rigs on its 135,000 net acre position in the Williston Basin. The implementation of drilling and completion modifications continues to yield impressive results. Co expects well costs in the Fort Berthold area to decrease by approximately 10% to $9.0 million by the end of 2013, through efficiencies related to pad drilling operations, implementation of centralized production facilities and continued optimization of completion techniques. Co is operating five rigs at El Halcon. The average effective lateral length for the two most recently drilled and completed wells in the play is 8,349 feet. The average initial production rate from these two wells is 1,116 Boe/d (94% oil) on a 16/64 choke, or 18% higher than the average initial rate for all previously drilled and completed Company-owned wells in this area. The co is operating two rigs on its 210,000 net acre position prospective for the Woodbine and other formations in East Texas.

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    • Report might stabilize price movement but commodity fundementals for the summer months will hold back any price appreciation for all oil and gas commodity stocks. I have a long term view and I am fully loaded at the moment with HK. I might buy back into CRZO if the price gets closer to 24 over the summer.

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