Raising Fair Value Estimate on Higher Production Estimates and a Lower Base Decline Rate
Our previous Halcon model, published after the company's emergence from accelerated bankruptcy, was overly pessimistic on two counts. First, our projections for the firm's production from its developed Bakken property did not account for the 7,000 barrels of oil equivalent per day that the firm has voluntarily shut in, pending stronger commodity prices. And second, we were assuming firmwide production from developed assets would decline by approximately 42% in the next 12 months, which is aggres...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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