Halcon Reduces 2014 Capital Spending Plans - Production Guidance Flat

El Halcon Eagle Ford Play Map
El Halcon Eagle Ford Play Map

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.

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.
— Floyd C. Wilson, CEO

Read more at halconresources.com