Halcon Resources unveils new East Texas Eagle Ford Shale play and provides general update
Tuesday, April 16, 2013
- Internally referred to as El Halcón, this new East Texas Eagle Ford Shale play has been established as the Company's fourth core area.
- The Company is fully engaged in the drilling phase of its development and is currently operating 16 rigs on its assets.
- Based on 3D seismic data and drilling results, the Company has decided to dedicate more resources to its 110,000 net acre Wilcox position predominantly located in Southwest Louisiana.
- The Company is in the process of implementing several drilling and completion modifications across its 130,000 net acre Williston Basin position that are expected to improve recoveries and lower costs.
Halcón Resources Corporation (NYSE: HK) unveiled a new East Texas Eagle Ford Shale play and provided a general update. New East Texas Eagle Ford Internally referred to as El Halcón, this new East Texas Eagle Ford Shale play has been established as the Company's fourth core area. The play extends across several counties in East Texas. Halcón is targeting 150,000 net acres in the play and currently has in excess of 50,000 net acres leased or under contract. The Company has seven wells producing, one well being completed and three wells being drilled in this play. The average initial and 30 day rates for the producing wells have been 859 barrels of oil equivalent per day ("Boe/d", 94% oil) and 694 Boe/d (94% oil), respectively. These seven Eagle Ford well...
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