Halcon Misses Guidance on Power Reliability and Weather Issues
Halcon delivered production of 12.8 thousand barrels of oil equivalent per day, or mboe/d, in the second quarter, which was 16% higher sequentially but below the bottom end of guidance. While the firm did recently drop to three rigs from four due to Midland Basin pricing weakness (announced previously), this did not take place until July and had no impact on the second quarter. Instead, the disappointment was attributed to downtime triggered by power reliability issues and inclement weather. Wit...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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