Halcón To Sell Remaining Non-Operated Williston Basin Assets For $104 Mln

(RTTNews) - Halcón Resources Corp. (HK), an independent energy company, announced Wednesday that it has entered into an agreement to sell its remaining non-operated assets in the Williston Basin to a private company for approximately $104 million in cash. The sale is subject to customary closing conditions and adjustments.

The effective date of the transaction is April 1, 2017 and is expected to close within 60 days. These properties currently produce approximately 1,891 Bbl/d of oil, 1,931 Mcf/d of gas and 65 Bbl/d of natural gas liquids.

In August, the company closed on an around $6 million cash sale of additional non-operated Williston Basin assets to a different party.

Upon the closing the sale of the non-operated assets in the Williston Basin, Halcón will have completed its transition into a pure play Delaware Basin focused company.

In less than nine months, the Company has sold approximately 2,000 wellbores across its legacy assets for aggregate cash proceeds in excess of $2 billion.