July 13, 2017 - 8:00 AM EDT
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Halcón's Recent Asset Sale, Q1 Review, and Outlook

NEW YORK, NY / ACCESSWIRE / July 13, 2017 / Traders News Source, a leading independent equity research and corporate access firm focused on small and mid-cap public companies is issuing a comprehensive report with no obligation on Halcón Resources Corporation (NYSE: HK) is an independent energy company, engaged in the acquisition, production, exploration, and development of onshore oil and natural gas properties in the United States.

This week, the oil company agreed to a deal to sell most of its assets in the North Dakota's Bakken region. Privately owned Bruin E&P Partners will pay $1.4 billion in cash to Halcon in exchange for its operating assets in the Williston Basin area. The deal is scheduled to close in August. If the deal fails, Halcón will pay Bruin E&P $42 million as compensation.

How can the asset sale impact HK shares? Details of the asset sale in this report READ MORE

Copy and paste to your browser may be required to view the report - http://tradersnewssource.com/halcon/

The company had been adversely affected by the unfavorable crude environment and filed for bankruptcy in July 2016. In September, it completed a financial restructuring and emerged from bankruptcy. Halcón has been divesting assets in most of its basins in order to concentrate on its Delaware Basin assets.

After the Bruin E&P deal, the company's production guidance has gone down to 7,500 boe/d. Nevertheless, the company plans to operate two rigs in the Delaware Basin for the rest of the year, increasing its estimated production capacity to 13,000 boe/d by the end of 2017.

The influx of cash, and resulting reduction in debt could make HK look more attractive to investors.

Read our full report for an HK outlook, Q1 review and production data READ MORE.

Copy and paste to your browser may be required to view the report - http://tradersnewssource.com/halcon/


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SOURCE: Traders News Source

Source: ACCESSWIRE Investor Awareness (July 13, 2017 - 8:00 AM EDT)

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