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Halcon Touts Latest Monument Draw Results; Will Maintain Three Rigs into 2019

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   |    Thursday,November 08,2018

Halcón Resources reported its Q3 2018 results.

Production up +14% from 2Q18; To Maintain Three Rigs into 2019

- Q3 production of 14.6 MBOEPD (73% oil) - up +14% from 2Q18 and

• Third quarter production was negatively impacted by excess gas flaring primarily in the Company's Monument Draw area. Halcón estimates that without this excess flaring, third quarter average daily production would have exceeded 15,000 Boe/d.

- Halcón is running three operated rigs in the Delaware Basin. The Company expects to maintain this rig level through the remainder of 2018 and into early 2019 in addition to running one full-time frac crew over this same period.

Touts Monument Draw Results

Eight new long-lateral Wolfcamp wells were put online in the third quarter of 2018 in Halcón's Monument Draw area. Five of these wells have reached their 30-day and 60-day peak IP rates which averaged 1,753 and 1,558 Boe/d, respectively (80% oil).

Two of these wells, the Telluride 6201H and the Trinity 6205H, averaged 30-day and 60-day peak IP rates of 2,087 Boe/d (82% oil) and 1,840 Boe/d (81% oil), respectively.

• The Trinity 6205H well produced nearly 55,000 barrels of oil in September, making it one of the top oil producing Wolfcamp wells drilled in all of Reeves and Ward counties since the beginning of 2017.

After being online for approximately three months, the Telluride 6201H and the Trinity 6205H wells continue to flow at very strong rates with a current average production rate in excess of 1,300 Boe/d (82% oil) per well.

Drilling Update

Halcón currently holds 22,110 net acres in its Monument Draw area. The Company has put online 14 horizontal Wolfcamp wells in this area since it began drilling here in the first quarter of 2017. Halcón expects to bring a rig back to Monument Draw in December 2018.

The Company currently holds 11,008 net acres in its West Quito Draw area. Halcón recently completed its first two operated horizontal Wolfcamp wells which are currently flowing back after frac. In addition to these two wells, the Company has drilled three more wells that are planned to be put online in West Quito Draw near year end 2018.

Halcón currently holds 23,816 acres in its Hackberry Draw area. The Company has drilled and completed 18 horizontal wells in this area (16 Wolfcamp, one 2^nd Bone Spring and one 3^rd Bone Spring). Halcón currently has two wells flowing back after frac and expects to put two additional wells online in Hackberry Draw before year end 2018.