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Halcon Says Goodbye To Eagle Ford; Enters Permian Delaware Basin Through $705 Million Acquisition
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Halcón Resources announced it has entered into a purchase and sale agreement with a Samson Exploration LLC to acquire 20,748 net acres in the Southern Delaware Basin (the "Pecos County Assets") for $705 million with a November 1, 2016 effective date, in addition to entering into an option agreement to purchase an additional 15,040 net acres in Ward County, Texas from a private operator for $11,000/acre (the "Ward County Option").
Finally, Halcón also announced it has entered into a purchase and sale agreement to sell its East Texas Eagle Ford assets ("El Halcón"), which currently are producing approximately 6,000 net boe/d, for $500 million with a January 1, 2017 effective date.
The acquisition of the Pecos County Assets, which will be funded with the proceeds of the previously announced…
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