Deals - Acquisition, Mergers, Divestitures
Halcon Resources Signs Agreement With Sundown Energy For Permian
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Halcon Resources also said, in addition to its acquistion of acreage, and production from Samson Exploration LLC, it has also entered into an agreement with a private operator for the right to purchase up to 15,040 net acres located primarily in Ward County, Texas. The Ward County assets are divided into two tracts: the Southern Tract (6,720 net acres) and the Northern Tract (8,320 net acres) with separate options for each tract. Pursuant to the terms of the agreement, Halcón is currently drilling a commitment well on the Southern Tract and has until June 15, 2017 to exercise the option on either the Southern Tract acreage or on all 15,040 net acres, in each case for $11,000/acre. If the Company initially elects only to exercise its option on the Southern Tract, it would then be required…
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