Halcon Resources Corp (NYSE:HK) Continues To Move Up
In September, Halcon Resources Corp (NYSE:HK) announced that it has now signed 3 different purchase agreements. These agreements cover assets that are located right across the United States. It said that it plans on selling $302 of the company’s holdings. No specific information about the location of these assets has been forthcoming from the company but Halcon Resources Corp (NYSE:HK) expects these transactions to close by 2013-end.
Friday’s trading session
In Friday’s trading, Halcon Resources Corp (NYSE:HK) rose by 8.30%. The opening price of the shares was $4.58, which climbed to an intraday high of $4.98 and dipped to a close of $4.96. Approximately 9.83 million shares were traded on Friday while an average volume of 5.54 million shares were traded over a 30 day period. The 52-week low of Halcon Resources Corp (NYSE:HK) shares is $4.41 and its 52-week high is $8.28. The company has a market capitalization of $3.96 billion.
About the company
Halcon Resources Corp (NYSE:HK) is an independent energy-company. It focuses on acquiring, producing, exploring and developing of onshore-liquids rich O&G gas-assets in the U.S. IT has O&G reserves located mainly in North Dakota, Texas, Louisiana, Montana and Oklahoma. On 1 August 2012, it acquired GeoResources via a merger.
On 6 December 2012, Halcon Resources Corp (NYSE:HK) completed acquiring entities owning around 81,000 net-acres prospective for the Three Forks/Bakken formations that are mainly located in McKenzie , Williams, Dunn Counties, Mountrail, and North Dakota from Petro-Hunt, L.L.C. and Pillar Energy, LLC.
As of 31 December 2012, it had working-interests in around 128,000 net-acres of prospective for the Three Forks/Bakken formations in Montana and North Dakota. Halcon Resources Corp (NYSE:HK)’s Eagle Ford /Woodbine acreage is a prospective for Eagle Ford, Woodbine as well as other formations that have targeted-depths that range from 7,000ft- 10,400ft.