Halcón Resources Will Spend 40% of its 2014 Budget in the Eagle Ford – ~$380 Million

Halcón Resources Increases Fourth-Quarter Production By 43%
Halcon Resource's Eagle Ford Acreage Map

Halcon Resource’s Eagle Ford Acreage Map | Click to Enlarge

Halcón plans on spending ~$380 million in its East Texas Eagle Ford acreage (El Halcón) in 2014. That’s approximately 40% of the company’s budget.

At the end of February, 2014, there were 45 Eagle Ford wells producing, 10 wells completing or waiting on completion, and 4 wells being drilled.

Read moreHalcon Holds Production Guidance & Lowers its 2014 Capital Budget

Halcón currently has working interests in approximately 100,000 net acres tied to prospective drilling in the Eagle Ford formation in East Texas. The Company plans to operate an average of 3 rigs and spud 40 to 50 gross operated wells in 2014.

Floyd Wilson, CEO, said in a company statement, “our focus in 2014 is on drilling wells in the sweet spots of our de-risked acreage in the Williston Basin and El Halcón. We will also begin drilling wells on our newly acquired acreage located in what we believe to be the core of theTuscaloosa Marine Shale. We are primed for growth and have a deep drilling inventory. We are committed to maintaining capital discipline and dedicated to improving capital efficiency.”

In 2014, the company plans to drill wells with an average lateral length of 7,500 feet, as tests continue to determine the most efficient completion design. In 2013, the company found there was a direct correlation between lateral length to EUR for wells completed with a sufficient volume of proppant.

Halcón’s Fourth-Quarter Eagle Ford Production

Halcón operated an average of four rigs in El Halcón during the fourth quarter, spudded 13 wells and put 9 wells online. The company produced an average of 7,138 boe/d in El Halcón during the fourth quarter. That’s an increase of 43% over the third-quarter of 2013.

Halcón Eagle Ford Highlights

  •  ~$380 million will be spent in Halcón’s East Texas Eagle Ford acreage (El Halcón) in 2014
  • Halcón plans to operate an average of 3 rigs and spud 40 to 50 gross operated wells in 2014 in El Halcón
  • 43% increase in Eagle Ford production to 7,138 boe/d in the fourth-quarter of 2013
  • At the end of February, 2014, 45 Eagle Ford wells were producing, 10 wells were being completed or waiting on completion and 4 wells were being drilled

Read more at HalconResources.com

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Kirk Eggleston

Kirk Eggleston

Contributor at EagleFordShale.com
Kirk Eggleston writes on significant news developments in the Eagle Ford and Bakken Shale plays. He is a former broadcast journalist, and has experience covering news and politics in the Texas and Louisiana markets.

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