Halcón Resources Corporation announced this week that it plans to sell Bakken assets.
Houston-based Halcón will sell a major part of its North Dakota operations in order to shift focus to the Permian Basin. The sale included operated assets in the Williston Basin to an affiliate of Bruin E&P Partners for $1.4 billion
Halcón shares jumped more than 35% at the news of the deal.
Halcón emerged from bankruptcy last fall, where it was able to eliminate approximately $1.8 billion in debt. Soon after, company executives announced it wouldl sell its Eagle Ford assets (“El Halcón”) to Hawkwood Energy for $500 million.