Last $1.46 USD
Change Today +0.05 / 3.55%
Volume 2.6M
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As of 2:14 PM 01/27/15 All times are local (Market data is delayed by at least 15 minutes).

halcon resources corp (HK) Snapshot

Open
$1.41
Previous Close
$1.41
Day High
$1.51
Day Low
$1.36
52 Week High
07/2/14 - $7.50
52 Week Low
01/20/15 - $1.06
Market Cap
616.8M
Average Volume 10 Days
6.1M
EPS TTM
$-0.53
Shares Outstanding
422.4M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for HALCON RESOURCES CORP (HK)

halcon resources corp (HK) Related Businessweek News

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halcon resources corp (HK) Details

Halcón Resources Corporation, an independent energy company, is engaged in the acquisition, production, exploration, and development of onshore oil and natural gas properties in the United States. The company primarily holds interests in various properties, such as the Bakken/Three Forks Formations comprising an area of approximately 131,000 acres in North Dakota; East Texas Eagle Ford Formations consisting of approximately 101,000 acres in Brazos, Burleson, and Lee counties; Tuscaloosa Marine Shale Formations comprising an area of approximately 315,000 acres in Louisiana and Mississippi; and Utica/Point Pleasant Formations consisting of approximately 135,000 net acres leased or under contract in Ohio and Pennsylvania. As of December 31, 2013, it had estimated proved reserves of approximately 136 million barrels of oil equivalent comprising 114.5 million barrels of crude oil; 9.8 million barrels of natural gas liquids; and 69.7 billion cubic feet of natural gas. The company was formerly known as RAM Energy Resources, Inc. and changed its name to Halcón Resources Corporation in February 2012. Halcón Resources Corporation is headquartered in Houston, Texas.

420 Employees
Last Reported Date: 02/27/14

halcon resources corp (HK) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $750.0K
President
Total Annual Compensation: $450.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $400.0K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $400.0K
Chief Legal Officer and Executive Vice Presid...
Total Annual Compensation: $375.0K
Compensation as of Fiscal Year 2013.

halcon resources corp (HK) Key Developments

Halcón Resources Corporation Announces Board Resignation

On January 8, 2015, James L. Irish III, the lead Independent Director and Chairman of the Audit Committee of the board of directors of Halcón Resources Corporation, notified the Board that, due to personal reasons, he was resigning from the Board effective January 8, 2015 and would not stand for re-election. On January 13, 2015, Stephen P. Smiley, notified the company of his desire, also due to personal reasons, to resign from the Board effective January 31, 2015.

Halcón Resources Corporation Provides Earnings Guidance for the Year of 2015

Halcón Resources Corporation provided earnings guidance for the year of 2015. The company expects to produce an average of 40,000 barrels to 45,000 barrels of oil equivalent per day (Boe/d) in 2015. The company is significantly hedged throughout 2015 and into 2016. Based on the midpoint of the aforementioned 2015 production guidance range, the company is approximately 88% hedged on its estimated oil volumes at a weighted average price of $87.29/Bbl and approximately 86% hedged on its estimated natural gas volumes at a weighted average price of $4.00/MMBtu. The company expects to spend approximately $20 million on leasehold, infrastructure, seismic and other in 2015.

Halcón Resources Corporation Reports Unaudited Consolidated Earnings and Production Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Production Guidance for the Fourth Quarter and Full Year of 2014 and for the Year 2015

Halcón Resources Corporation reported unaudited consolidated earnings and production results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total operating revenues of $306,509,000 against $305,007,000 for the same period a year ago. Income from operations was $71,503,000 against loss of $1,147,020,000 for the same period a year ago. Income before income taxes was $196,340,000 against loss before tax of $1,215,110,000 for the same period a year ago. Net income available to common stockholders was $186,853,000 or $0.36 per diluted share against net loss available to common stockholders of $859,897,000 or $2.19 per basic and diluted share for the same period a year ago. Net cash provided by operating activities was $170,948,000 against $160,239,000 for the same period a year ago. Oil and natural gas capital expenditures were $324,911,000 against $792,513,000 for the same period a year ago. Net income available to common stockholders, excluding selected items was $10,871,000 or $0.03 per basic and diluted share against $16,383,000 or $0.04 per basic and diluted share for the same period a year ago. Cash flow from operations before changes in working capital, adjusted for selected items was $168,450,000 against $179,603,000 for the same period a year ago. For the nine months, the company reported total operating revenues of $908,802,000 against $710,204,000 for the same period a year ago. Income from operations was $154,424,000 against loss of $1,083,148,000 for the same period a year ago. Income before income taxes was $55,899,000 against loss before tax of $1,146,142,000 for the same period a year ago. Net income available to common stockholders was $35,597,000 or $0.08 per diluted share against net loss available to common stockholders of $818,060,000 or $2.22 per basic and diluted share for the same period a year ago. Net cash provided by operating activities was $581,890,000 against $391,605,000 for the same period a year ago. Oil and natural gas capital expenditures were $1,178,649,000 against $1,828,969,000 for the same period a year ago. Net income available to common stockholders, excluding selected items was $51,440,000 or $0.12 per basic and diluted share against $49,352,000 or $0.12 per diluted share for the same period a year ago. Cash flow from operations before changes in working capital, adjusted for selected items was $494,324,000 against $408,738,000 for the same period a year ago. For the quarter, the company reported average daily production of approximately 43,554 Boe/d compared to 37,707 Boe/d a year ago. Total production volume was 4,007 MBoe compared to 3,469 MBoe a year ago. On a pro forma basis, the company grew production 8% quarter-over-quarter. For the nine months, the company reported average daily production of approximately 40,769 Boe/d compared to 31,007 Boe/d a year ago. Total production volume was 11,130 MBoe compared to 8,465 MBoe a year ago. The company is currently operating eight rigs across its holdings and expects to deliver annual production towards the high end of the previously disclosed full year 2014 production guidance range of 40 -42 MBoe/d. Drilling and completion results continue to improve, and there are currently 18 wells being completed or waiting on completion. The company expects to spud 10 to 12 gross operated wells in the play with an average of three rigs during the fourth quarter of 2014. The company expects to spud two gross operated wells (88% avg. WI) in the play with two rigs and plans to participate in four to five non-operated wells (10% avg. WI). The company expects to operate six rigs in 2015, five rigs less than originally planned. The company’s preliminary drilling and completion budget for 2015 is $750 to $800 million. Despite the reduced capital budget, the Williston Basin and El Halcón assets are expected to drive year-over-year pro forma production growth of 15% to 20% in 2015.

 

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