Halcon Holds Production Guidance & Lowers Its 2014 Capital Budget

Halcon Resources Bakken Acreage Map
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.
— Floyd C. Wilson, CEO

Read more at halconresources.com