Halcón Resources has announced it will sell its Eagle Ford assets (“El Halcón”) to Hawkwood Energy for $500 million.

The sale should close by early March and will help fund the company’s movement into the Delaware Basin.

Related: Halcón to Resume Eagle Ford Drilling

Through the deal, Denver-based, Hawkwood will acquire approximately 81,000 net acres primarily located in Burleson and Brazos counties, which are currently are producing approximately 6,000 net boe/d.

Halcón emerged from bankruptcy last fall, where it was able to eliminate approximately $1.8 billion in debt. Company executives had previously announced they would resume Eagle Ford drilling in 2017 but made a sharp turn recently to move into the Delaware Basin.

This is Hawkwood’s initial investment into the Eagle Ford region of South Texas. The company has focused primarily on its 1110,000 East Texas acres in Brazos, Madison, Leon, and Robertson Counties with 70+ wells.

Read more at hawkwoodenergy.com