Did Kodiak Oil & Gas and Halcon Resources Just Hit the Brakes for 2014?

By Tyler Crowe – Dec 23, 2013 at 11:00AM

NYSE: HK

Halcon Resources

Both Kodiak Oil & Gas and Halcon Resources cut their capital spending budgets for 2014. Could this lead these energy highfliers to lower altitudes?

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Even though estimates out there put capital spending in the energy industry at a record $700 billion plus in 2014, Kodiak Oil & Gas (NYSE: KOG) and Halcon Resources (HK) don't seem as interested in joining the party as they may have previously. Kodiak and Halcon both recently announced that their capital budgets will be lower by 6% and 14%, respectively, than in 2013. It's not a major cut, but it is a bit curious considering the production pace these two have set over the past couple of years.

How much will this affect each company's produciton? Halcon estimates average production for the year will be up 14%, while Kodiak is still shooting for a 45% gain by the end of 2014. All in all, pretty ambitious. To learn more about what these two companies are up to, and what fool.com contributor Tyler Crowe thinks you should watch in 2014 for these two companies, tune in to the video below.

Fool contributor Aimee Duffy has no position in any stocks mentioned. Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow them on Twitter @TMFDuffy and @TylerCroweFool, respectively.

The Motley Fool has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.