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Halcon Unveils 2018 Capex, Drilling Plans; Improves Wolfcamp Drill Times
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Halcon reported its Q3 2017 results as well as its preliminary 2018 guidance. Highlights include:
2018 Plans2018 Capex: $310-360 million (relatively flat compared to 2017 budget of $330 million)
$280-320 million D&C $30-40 million Infrastructure, Seismic & OtherProduction Guidance: 15,000-19,000 BOEPD
3 rig program (1 Hackberry Draw / 2 Monument Draw) - one dedicated frac fleet
D&C Plans: Hackberry Draw Plans: Complete ~16 wells Majority of wells will have 10,000' laterals Combination of delineation drilling and spacing tests Monument Draw Plans: Complete ~16 wells Targeting Wolfcamp / Bone Spring Q3 Activity Hackberry:Halcon has improved its drill times ~32% at its Hackberry prospect, averaging 22.88 days from spud to rig release (10,000' laterals).
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