Halcon Resources is leveraging
an experienced staff and the most advanced technology available to grow its
influence in the oil and gas industry. The relatively young company is focused
on the acquisition, production, exploration and development of onshore
liquids-rich assets in the United States, particularly at its two core
operations in North Dakota and Texas.
The first of the company’s
primary operations is located within one of the most promising reserves in the
country: the Bakken Formation. As of the end of 2014, Halcon held approximately
129,000 acres throughout the state, and early results have been promising. This
year, the company expects to begin drilling operations for 25 to 30 new wells
in the Williston Basin. According to the U.S. Energy Information
Administration, the region’s production climbed to nearly 600,000 barrels per
day in 2012, highlighting the extreme production potential of the basin that’s
been unlocked by modern drilling technology.
El Halcon, the company’s second
core operation, is located in the most active shale play in the world, the
Eagle Ford Shale Formation of East Texas. Halcon plans to begin drilling
operations on 12 to 15 operated wells this year. This play could provide Halcon
with potentially massive increases in production capacity. In March 2015, the
region’s production totals climbed to 1.6 million daily barrels, according to
Fuel Fix.
With operations in two of the
country’s most promising regions, as well as a collection of non-core plays
around the nation, Halcon is in a strong position to increase its market share
in the competitive industry. Following the release of the company’s Q1 2015
financial results, industry analysts were optimistic about the potential for
strong growth moving forward. In addition to dramatic decreases in operating
costs, Halcon was able to meet its average production goals for the period,
netting just over 43,000 barrels of oil equivalent per day.
Led by proven Chairman and Chief
Executive Officer Floyd Wilson, former Petrohawk President and CEO, analysts
agree that the company has made significant steps towards growth in recent
months. With a rapidly improving balance sheet and sufficient liquidity “to
fund operations… for the next several years,” according to Wilson, Halcon is
embracing the vision and agility needed to become a resource powerhouse in the
oil and gas industry. As the market appears to be headed toward a lasting shift
in both prices and production targets, look for Halcon to continue making waves
in the years to come.
For more information, visit
www.halconresources.com
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