Halcón Resources to sell non-core conventional assets
HOUSTON -- Halcón Resources Corporation has entered into three separate purchase and sale agreements to divest certain non-core conventional assets located throughout the U.S. for total consideration of approximately $302 million.
The transactions are expected to close in the fourth quarter of 2013, with an effective date of July 1, 2013.
In aggregate, as of December 31, 2012, estimated proved reserves associated with the properties were approximately 21.2 million boe, 67% of which was proved developed. Proved reserves were approximately 77% oil and NGLs, and these assets currently produce approximately 4,500 boed.