At the time when some investors seem to have given up on Halcon Resources' (HK) stock, the company's aggressive pursuit of emerging oil plays is beginning to bear fruit.
- Two months ago, Halcon reported exploratory results in the Utica. The early tests demonstrated that at least a portion of the company's vast acreage in the Utica's northern extension is productive and comparable to the play's established "core." Already now, the Utica represents an important asset for Halcon, contributing materially to the company's intrinsic value. At the same time, this contribution cannot be seen in the company's operating metrics due to the lack of off-take infrastructure.
- In the most recent development, Halcon reported a fresh set