Halcon Resources (HK -9.4%) falls sharply midday as investors don't seem impressed with an...


Halcon Resources (HK -9.4%) falls sharply midday as investors don't seem impressed with an operational update the company provided regarding its acreage in the Utica/Point Pleasant play. Updates were given on the Philips 1H, the Allam 1H, the Brugler 1H, the Yoder 2H, and the Kibler 1H wells. The company says the delineation process will be substantially complete by Q4. (PR)

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Comments (11)
  • rstran
    , contributor
    Comments (138) | Send Message
     
    Why the selloff? Report sounded good....I bought more
    23 May 2013, 01:06 PM Reply Like
  • Mike Maher
    , contributor
    Comments (2849) | Send Message
     
    That acreage is much further north and east than the great Utica results from GPOR and PDCE
    23 May 2013, 01:16 PM Reply Like
  • Brandond
    , contributor
    Comments (473) | Send Message
     
    I made tons of cash with Floyd Wilson at his last company and use days like today to keep adding to position. Set HK aside, don't get too worked up about the monthly price gyrations, let the day traders have their fun and wait for the end game when this company trades north of $25. The management team at HK is first rate IMO.
    23 May 2013, 01:35 PM Reply Like
  • gamagin
    , contributor
    Comments (2) | Send Message
     
    Alpha asks why the herd stampedes ? Maybe its because Alpha has been trumpeting the short side for at least three weeks. Steadily. Somewhere in there it's called manipulation. Several weeks of negative crap can hardly be offset by a one hour update. If the shorters were subject to the same rules of disclosure the company is, the unfolding story might get out. Or I'd join the shorters. As it is, Alpha (and others) keep throwing gas on THEIR OWN fire and then ask, "why all the flames?" Disgusting.
    23 May 2013, 01:57 PM Reply Like
  • hdiesel
    , contributor
    Comments (39) | Send Message
     
    Looks good to me as well. Seems like a major buying opportunity as long as you have the patience to mount a bucking bronco.
    23 May 2013, 02:14 PM Reply Like
  • mfosterla
    , contributor
    Comments (6) | Send Message
     
    Does it matter where the acreage is located? I agree with rstran. I bought more? The report seemed positive to me.
    23 May 2013, 02:15 PM Reply Like
  • Mike Maher
    , contributor
    Comments (2849) | Send Message
     
    Look at some of the presentations on the Investor Relations Websites from Gulfport and PDC Energy. Their acreage has had much higher production, and therefore, is more valuable. Results from those two, and Antero, have shown there is a very productive part of the Utica, and that land appears, so far, to hold the most value.
    23 May 2013, 02:57 PM Reply Like
  • jacksalmon
    , contributor
    Comments (1099) | Send Message
     
    Maybe you "experts" can help me out here with your knowledge. Isn't it possible that the market was not happy with the results because there was no indication that the wells produced any oil? As I read the announcement, it seems like all they found was gas and NGLs with no mention of oil. Could the market have expected that they would have found oil; and, therefore, the lack of oil is a negative? Thanks for any insights you can provide.
    23 May 2013, 02:22 PM Reply Like
  • capital pains
    , contributor
    Comments (219) | Send Message
     
    I agree with the Floyd Wilson fans. I also added more to my position on this ridiculous overreaction today.
    23 May 2013, 02:22 PM Reply Like
  • jacksalmon
    , contributor
    Comments (1099) | Send Message
     
    Just talked to investor relations at HK. Yes, indeed, the results indicated no oil. For an oil company, apparently the results were not very satisfying to the market. However, more wells remained to be drilled. Sellers probably did not want to wait around for more negative results. I hope all you buyers out there today are rewarded eventually.
    23 May 2013, 04:46 PM Reply Like
  • etheljoan
    , contributor
    Comment (1) | Send Message
     
    sooner or later someone will crack the oil code. only 6 wells drilled in oil window to date with no results. it took the baaken 7 years to crack the recovery code. it will happen in future.
    24 May 2013, 04:08 AM Reply Like
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