- Halcon Resources (HK +3.4%) says it is cutting its planned capital spending for 2014 by 14% to ~$950M, including drilling work, while maintaining its previously issued 2014 production guidance of 38K-42K boe/day.
- HK, which recently acquired acreage in the Tuscaloosa Marine shale play while already selling off ~$300M in non-core conventional assets, says it aims to make further asset disposals of $300M-$400M next year.
- HK also intends to offer an additional $400M of its 9.75% senior unsecured notes due 2020 to help pay down debt.
Halcon to cut 2014 capex by 14%, eyes $300M-$400M in asset sales
Dec 16 2013, 09:59 ET