Halcon Resources' initial production rates have improved considerably across the Bakken. The company is completing wells with tighter stage densities, more proppant per stage (100% ceramics), and is using slick water in areas where gels were used in the past.

The company's best well to date was completed on the Fort Berthold Reservation in the third quarter. The Bakken well came online 3,914 boe/d.

Wells completed with the company's latest design have yielded results 20-60% better than comparable wells.

Spud-to-total depth drilling times have fallen below 18 days at both the company's Fort Berthold and Williams County properties. Approximately 80% of drilling in 2013 and 100% of drilling in 2014 will be multi-well pads.

Halcon spudded 14 wells and completed 13 wells in the third quarter as net production increased 40%. The company will operate 5-6 rigs in the fourth quarter and 4-5 rigs in 2014.

The company continues to test downspacing across the play and the lower benches of the Three Forks. The first Three Forks Second Bench well is being drilled currently.

Downspacing tests at 660 ft/well have proven promising. The three Bakken wells tested at 660 ft spacing in the unit depicted above all came online at more than 2,500 boe/d. Halcon is planning the majority of Bakken development on the Fort Berthold Reservation at 660 ft spacing and plans to drill downspacing pilot tests in Williams County in 2014.

Halcon has 132 producing Bakken wells, 39 producing Three Forks wells, and 14 wells in various stages of drilling and completion.

Read the company's full Q3 press release at HalconResources.com