Halcon Resources Bakken Acreage Map
Halcon Resources lowered its capital budget for 2014 and is keeping its production guidance the same (38,000-42,000 boe/d).
Approximately $125 million will be spent on leasehold, infrastructure, and seismic. Halcon also plans to divest $300-400 million in properties in 2014.
Halcon originally planned to spend more than $1 billion, but has lowered its budget 14% to $950 million.
“We expect to fund our entire 2014 capital budget with a combination of cash flow from operations, borrowings under our revolving credit facility and proceeds from additional non-core asset sales.”
Read more at halconresources.com