Halcon Stock Slides After 4Q Earnings Miss
Halcon’s fourth quarter was transitional, given the November sale of its Williston Basin assets, which made up more than 80% of its third quarter volumes. Production in the period was 6.3 mboe/d, which is consistent with the most recent guidance (issued Feb. 6). This was much lower than previous guidance, due to a delay in sourcing a completion crew. And judging by the stock’s negative reaction after the release it seems the market was paying more attention to the previous guidance than the curr...
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