Houston-based Halcon Resources Corp., which became a public company about a year ago, has been building acreage positions in several unconventional oil and gas plays and last year grew proved reserves to 108.8 million boe, an increase of 417% from the end of 2011.
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After three days of hyper-volatility and multi-dollar price swings, natural gas futures exhibited some semblance of normalcy Thursday as prices climbed higher in the morning on fresh gas storage data only to ebb lower in afternoon trading. With that, April completed it first day as prompt month at Nymex with a relatively uneventful 9.5-cent gain and $7.485 close.
Swing prices exploded Monday in hyper-volatile trading featuring across-the-board multi-dollar gains, with Northeast quotes soaring to peaks of more than $30 in some cases and most Gulf Coast/Midcontinent/Midwest numbers averaging between $10 and $20. The spikes weren’t quite as spectacular in the West, but still impressive as the Rockies market soared to $6-8, Malin peaked at more than $10 and El Paso-Permian was quoted as high as $15.95.