Halcon Resources Production Surges by Triple Digits

Halcon Resources also unveils the Tuscaloosa Marine Shale as a new core area.

Feb 26, 2014 at 5:42PM

Halcon Resources (NYSE:HK) reported fourth-quarter and full-year results after the closing bell today. The company reported adjusted net income of just $4.1 million, or $0.01 per share. That fell short of what analysts' estimated it would earn by $0.03 per share.

On a non-adjusted basis, Halcon Resources reported a loss of $415.3 million, or $1.01 per share. That loss included non-cash pre-tax impairment charges of $238.9 million as well as the non-cash impact of oil and gas hedges. Despite the non-adjusted loss and low adjusted net income Halcon Resources did produce cash flow from operations in the quarter totaling $155.2 million. That was nearly $100 million more than it produced in the fourth quarter of 2012.

One of the reasons cash flow grew in 2013 was a 119% surge in production in the fourth quarter when comparing it with the fourth quarter of 2012, despite some weather-related downtime in the company's Bakken Shale operations in the quarter. For the full year, Halcon Resources grew its production by 254% over 2012, which was on the high end of its guidance range.

In addition to reporting earnings and production, Halcon Resources also unveiled the Tuscaloosa Marine Shale as its third core area joining the Bakken Shale and the Eagle Ford Shale. The company plans to run three rigs in the play to drill about a dozen gross wells in 2014. Halcon Resources now believes the addition of the Tuscaloosa Marine Shale, when combined with its other two core plays, puts it in a solid position to deliver liquids-rich production growth in 2014 and beyond.

Matt DiLallo and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.

Money to your ears - A great FREE investing resource for you

The best way to get your regular dose of market and money insights is our suite of free podcasts ... what we like to think of as “binge-worthy finance.”

Feb 1, 2016 at 5:03PM

Whether we're in the midst of earnings season or riding out the market's lulls, you want to know the best strategies for your money.

And you'll want to go beyond the hype of screaming TV personalities, fear-mongering ads, and "analysis" from people who might have your email address ... but no track record of success.

In short, you want a voice of reason you can count on.

A 2015 Business Insider article titled, "11 websites to bookmark if you want to get rich," rated The Motley Fool as the #1 place online to get smarter about investing.

And one of the easiest, most enjoyable, most valuable ways to get your regular dose of market and money insights is our suite of free podcasts ... what we like to think of as "binge-worthy finance."

Whether you make it part of your daily commute or you save up and listen to a handful of episodes for your 50-mile bike rides or long soaks in a bubble bath (or both!), the podcasts make sense of your money.

And unlike so many who want to make the subjects of personal finance and investing complicated and scary, our podcasts are clear, insightful, and (yes, it's true) fun.

Our free suite of podcasts

Motley Fool Money features a team of our analysts discussing the week's top business and investing stories, interviews, and an inside look at the stocks on our radar. The show is also heard weekly on dozens of radio stations across the country.

The hosts of Motley Fool Answers challenge the conventional wisdom on life's biggest financial issues to reveal what you really need to know to make smart money moves.

David Gardner, co-founder of The Motley Fool, is among the most respected and trusted sources on investing. And he's the host of Rule Breaker Investing, in which he shares his insights into today's most innovative and disruptive companies ... and how to profit from them.

Market Foolery is our daily look at stocks in the news, as well as the top business and investing stories.

And Industry Focus offers a deeper dive into a specific industry and the stories making headlines. Healthcare, technology, energy, consumer goods, and other industries take turns in the spotlight.

They're all informative, entertaining, and eminently listenable. Rule Breaker Investing and Answers are timeless, so it's worth going back to and listening from the very start; the other three are focused more on today's events, so listen to the most recent first.

All are available for free at www.fool.com/podcasts.

If you're looking for a friendly voice ... with great advice on how to make the most of your money ... from a business with a lengthy track record of success ... in clear, compelling language ... I encourage you to give a listen to our free podcasts.

Head to www.fool.com/podcasts, give them a spin, and you can subscribe there (at iTunes, Stitcher, or our other partners) if you want to receive them regularly.

It's money to your ears.

 


Compare Brokers