Halcon Reduces 2014 Capital Spending Plans – Production Guidance Flat

Also Planning $300-400 Million in Asset Sales in 2014
El Halcon Eagle Ford Play Map

El Halcon Eagle Ford Play Map | Click to Enlarge

Halcon Resources is lowering its capital budget for 2014 and keeping its production guidance the same at 38,000-42,000 boe/d.

The company originally planned to spend more than $1 billion, but has lowered its budget 14% to $950 million.

Approximately $125 million will be spent on leasehold, infrastructure, and seismic. Halcon also plans to divest $300-400 million in properties in 2014.

Floyd C. Wilson, CEO, stated, “We expect to fund our entire 2014 capital budget with a combination of cash flow from operations, borrowings under our revolving credit facility and proceeds from additional non-core asset sales.”

Read more at halconresources.com