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Penn Fan
Member since Jun 2007
46958 posts

Halcon strikes development deal for Tuscaloosa acreage

Apollo Global Management LLC will invest up to $400 million in a subsidiary of Houston-based Halcón Resources Corp. that will own all of Halcon’s 314,000 acres in the Tuscaloosa Marine Shale.


But Apollo’s participation is an endorsement by a singificant investment capital group and also indicates a long-term commitment to the Tuscaloosa on Halcón’s part, Barrell said.

Halcón has already announced that it plans to drill 10 to 12 wells in the formation in 2014 and to participate in 15 to 20 wells that other companies will drill.

Member since May 2012
950 posts

re: Halcon strikes development deal for Tuscaloosa acreage
Interdasting... I lost big time on HK when it fell from $6 to $4 last year and haven't really followed it since. Might be a good time to look at them again. Maybe Floyd Wilson can pull out another one.

Member since Dec 2013
1823 posts

re: Halcon strikes development deal for Tuscaloosa acreage
Saw this today too, Forever. Looks like a lot of this news was priced in to the recent run up in HK that we tlked about last week. I think some other investors were taking profit on it today, that's why the stock lagged on the news. I still am long on it though and will probably start to set sell stops soon if it continues to rise.

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