Halcon Meets 3Q Guidance Despite Excess Gas Flaring
Halcon delivered production of 14.6 mboe/d in the third quarter, which was 14% higher sequentially and just above the low end of the guidance range of 14.5-15.5 mboe/d. Management commented that volumes would have been above 15.0 mboe/d if not for excessive gas flaring in the Monument Draw area, due to the unexpected loss of a third-party sales line. Though the issue is likely to be resolved within a couple of quarters via the buildout of in-house treating infrastructure, guidance for the fourth...Halcon Resources is an independent energy company focused on the acquisition, production, exploration and development of onshore liquids-rich oil and natural gas assets in the U.S. The company focuses on oil and natural gas acquisition, production, exploration and development in the Delaware Basin. The company's properties and drilling activities are focused in the Delaware Basin in Pecos, Reeves, Ward and Winkler Counties, TX.
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