Halcón Resources Announces Closing of "El Halcón" - East Texas Eagle Ford Divestiture
Houston, Texas, March 09, 2017 (GLOBE NEWSWIRE) -- Halcón Resources Corporation (NYSE:HK) ("Halcón" or the "Company") announced today it closed the divestiture of its El Halcón assets in East Texas for $500 million in cash, subject to certain closing adjustments.
The effective date of the divestiture is January 1, 2017. As of December 31, 2016, estimated proved reserves from the El Halcón assets were approximately 35.1 MMBoe, or 24% of Halcón's estimated year-end 2016 proved reserves. Current net production from the El Halcón assets is approximately 5,600 boe/d.
About Halcón Resources
Halcón Resources Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States.
For more information contact Quentin Hicks, Senior Vice President of Finance & Investor Relations, at 832-538-0557 or firstname.lastname@example.org.
Source: Halcon Resources
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