Halcon

Halcon Resources Corp. plans to drop to one operated rig in 2016 as it looks to spend within cash flow to weather the downturn.

Halcon Resources Corp. plans to “take a more tempered approach” to its capital expenditures (capex) in 2016, setting a drilling and completion budget of $180-210 million, the company said Friday.

Halcon Resources Corp. is unofficially planning to keep three rigs deployed in the Williston Basin and a portion of the Eagle Ford Shale in 2016, and it could cut capital expenditures (capex) by 25%, even as it set some new drilling records during 3Q2015.

Houston’s Halcon Resources Corp., which in November reduced 2015 capital expenditures by half of 2014, on Thursday cut that forecast by half again. The Permian Basin unit of American Energy Partners LP (AELP) also is setting its sights lower.

Halcon Resources Corp. continued making gains on drilling and completion efficiencies in the second quarter, mainly in the Williston Basin, where the Bakken/Three Forks Shale accounted for more than half of its record-breaking 42,055 boe/d.

While raising estimated ultimate recoveries (EUR) in its Williston Basin and East Texas Eagle Ford plays Houston-based Halcon Resources Corp. has added the Tuscaloosa Marine Shale (TMS) as a third core area.

Houston-based Halcon Resources Corp. has raised estimated ultimate recoveries (EUR) in its Williston Basin and East Texas Eagle Ford plays through increase drilling and completion efficiencies, particularly slickwater fracks, executives said Thursday.

Halcon Resources Corp. said Monday it was lowering its 2014 capital expenditures budget by 14%, bringing it from a previously announced $1.1 billion to approximately $950 million — most of which will be spent in the Bakken and Eagle Ford Shale plays.

Halcon Resources Corp. will begin seismic testing to find Utica Shale oil and gas deposits in six townships of Mahoning County, OH, after local officials there approved a one-year road use maintenance agreement with the company.