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Halcón Resources Corporatio Message Board

  • zoom_bee zoom_bee Jun 6, 2014 11:09 AM Flag

    Seeking alpha article not correct

    Seeking Alpha posted a "Zelts Energy analysis" that is not correct.
    Halcon Completed a Purchase and sales Agreement for East Texas on 25 February and gave up 3,861 BO for $450M all oil with the wells with effective date April 1st so all JAN, FEB, and March oil removed. That’s what you are seeing.

    "On February 25, 2014, certain wholly owned subsidiaries of Halcon Resources Corporation (the "Company") entered into an Agreement of Sale and Purchase (the "Agreement") with a privately-owned company ("purchaser") pursuant to which the Company agreed to sell its Woodbine properties and related assets located in east Texas (the "East Texas Assets") to purchaser for a total purchase price of $450 million. The effective date of the transaction will be April 1, 2014 and the Company expects to close the transaction in mid-April 2014, subject to satisfaction of customary closing conditions set forth in the Agreement."

    the Zelts Energy" comparison is straight production where they don't consider the working interest of 72-74% and the MCF gas flaring of the new Halcon wells as reflected in the state "04" code. The comparison is in the period where HK sold the east Texas assets including the oil in January, February, and March. So with 3,861 sold off, the WI% not applied, and flared gas which is not sold is "highly unproffessional and ill-advised.

    Sentiment: Hold

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    • Revalidated all the Texas wells as the Zelts Energy data I knew was wrong.
      However, I got better news for you. First consider
      El Halcón is 100% operated by Halcon they hold a Avg. WI in acreage: ~72%, with an Avg. WI in wells: ~74% ,and an Avg. NRI in wells: ~56%.
      That said: Reporting production oil and gas sold
      April numbers in Texas top line.
      455,329 BO with 254,741 MCF sold for a BOE of 497,786 there was 10,630 MCF flared and or not to production. That equates to 15,178 BOD with 8,491 MCF/D for a BOE/D of 16,593 at 100%
      Apply 74% Working Interest - 12,279 BOE/D NET. Here's the top down (as many that fit)
      Lease name __ Apr BO__ APR MCF__ APR BOE__ Lost __disp
      SNAPPER 2H __ 28,822__ 2,099__ 29,172 __ 94 __ 04
      Reveille 3H __ 26,437 __ 11,650 __ 28,379 __ 903 __ 04
      KEYSTONE 1H __ 20,442 __ 6,988 __ 21,607 __ 157 __ 04
      Stifflemire 1H __ 16,859 __ 17,862 __ 19,836 __ 95 __ 04
      Wombat 2H __ 15,505 __ 10,298 __ 17,221 __ 55 __ 04
      PALAMINO 2H __ 15,892 __ 4,072 __ 16,571 __ 371 __ 04
      PALAMINO 1H __ 14,553 __ 4,714 __ 15,339 __ 8 __ 04
      JAVELINA 1H __ 13,239 __ 5,247 __ 14,114 __ 195 __ 04
      AM EASTERLING-GRESHAM A 1H __ 9,539 __ 14,436 __ 11,945 __ 30 __ 04
      Jones 2H __ 10,052 __ 7,183 __ 11,249 __ 545 __ 04
      BRUIN-KODIAK 1H __ 9,219 __ 2,339 __ 9,609 __ __ ok
      Diebel 3H __ 8,368 __ 6,707 __ 9,486 __ 257 __ 04
      BRUIN-KODIAK 5H __ 8,565 __ 4,717 __ 9,351 __ __ ok
      OL'Sarge 2H __ 8,112 __ 4,100 __ 8,795 __ 1,189 __ 04
      Diebel 2H __ 8,249 __ 1,914 __ 8,568 __ 2 __ 04
      BRUIN-KODIAK 2H __ 7,528 __ 4,625 __ 8,299 __ __ ok
      Stansy-Honza 1H__ 6,969 __ 6,234 __ 8,008 __ 85 __ 04
      McDonald 1H__ 7,623 __ 2,195 __ 7,989 __ 51 __ 04
      BRUIN-KODIAK 4H __ 7,186 __ 1,137 __ 7,376 __ __ ok
      McDonald 1H __ 6,954 __ 2,020 __ 7,291 __ 1 __ 04
      ROBESON 2H __ 6,335 __ 5,728 __ 7,290 __ 78 __ 04
      KODIAK-CUB UNIT 3H __ 6,116 __ 2,641 __ 6,556 __ __ ok
      KODIAK-CUB UNIT 2H __ 6,043 __ 2,895 __ 6,526 __ __ ok
      Champion Ranch C 1H __ 5,303 __ 6,521 __ 6,390 __ 4 __ 04
      KODIAK-CUB UNIT 1H __ 5,767__3,579 __6,364

      Sentiment: Buy

 
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