Bloomberg News

Halcon Resources Agrees to Sell Certain Assets for $302 Million

September 12, 2013

Halcon Resources Corp. (HK:US), the oil and natural gas company run by former Petrohawk Energy Chief Executive Officer and Chairman Floyd C. Wilson, agreed to sell certain U.S. assets for a total of $302 million.

The three transactions are expected to close in the fourth quarter and the properties being sold currently produce the equivalent of approximately 4,500 barrels of oil a day, the Houston-based company said in a statement today.

“The divestment of these non-core assets will provide us with additional liquidity and allow us to be a more focused and concentrated oil company,” Wilson, CEO and chairman of Halcon, said in the statement.

Halcon, founded in 2011, has dropped (HK:US) 29 percent this year as the Russell 2000 Energy Index has risen 24 percent. In October, the company bought some of Petro-Hunt LLC’s North Dakota fields for approximately $1.45 billion in cash and stock.

To contact the reporter on this story: Peter Ward in New York at pward41@bloomberg.net

To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net


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Companies Mentioned

  • HK
    (Halcon Resources Corp)
    • $5.54 USD
    • -0.06
    • -1.08%
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