One-Page Deal Sheet
Halcon Sells Bakken Asset; Open to Outright Sale of the Company
Calculated Metrics( EV/Category)
Transaction Details:
Halcon is selling its operated Williston Basin assets to an affiliate of Bruin E&P Partners, a portfolio company of Arclight Capital Partners, for $1.4 billion in cash. In this sale, Halcon is selling off 76% of its total production.
In a call with analysts, Halcon's CEO Floyd Wilson indicated it was open to an outright sale of the company. Halcon seems to be following a trajectory similar to Clayton Williams, who was acquired by Noble Energy. In the short term, however, Halcon plans to add another rig in its Permian assets by year-end.
Current production associated with the assets being sold is approximately 29,000 boe/d, net. According to Halcon's most recent presentation, the company holds ~103,700 net operated acres in the Williston. The asset is 100% HBP.
While Halcon has successfully found a buyer for these assets, SM Energy attempted to sell its Bakken position earlier this year, but pulled the listing after not finding a buyer.
It is important to note that the sale is contingent upon the approval of at least 50% of Halcon's senior note holders (6.75% unsecured notes due 2025).
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| May-13-2025 |
-  |
- |
Click here | Montana | E&P |
| Jan-31-2024 |
- |
- |
Click here | North Dakota | E&P |
| Aug-24-2023 |
- |
- |
Click here | North Dakota | E&P |
| Sep-06-2022 |
- |
- |
Click here | E&P | |
| Jul-11-2022 |
- |
- |
Click here | Texas | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Nov-03-2025 | Viper Energy Divests Non-Permian Mineral & Royalty Portfolio to Warwick Capital and GRP Energy for $617MM | - |
- |
| Jul-08-2024 | Devon To Acquired PE-Backed Grayson Mill For $5 Billion | - |
- |
| Feb-21-2024 | Chord Energy and Enerplus to Combine in $11 Billion Transaction Creating Premier Williston-Focused E&P Company | - |
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