One thing that Halcon Resources (NYSE: HK ) needs more than anything else is capital to develop its massive acreage holdings in the Tuscaloosa Marine Shale, and the recent deal it struck with Apollo Global Management (NYSE: APO ) for up to $400 million in preferred shares was so helpful. Recent successful well results from Halcon that are even better than the best result from Tuscaloosa neighbor Encana (NYSE: ECA ) suggests that the region should be a much bigger part of the company's capital program, and this recent deal does just that.
For those that own shares in Halcon might not want to be jumping for joy because of the deal, though. Find out why this deal isn't as helpful at generating returns for investors as it is helping the company grow by tuning into the video below.
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