Houston-based Halcon Resources released an operations update on Oct. 2 that included information on the company’s current activities in the Bakken petroleum system of the Williston Basin.
Halcon has working interests in approximately 55,000 net acres prospective in the Bakken and Three Forks formations in Mountrail, McKenzie and Williams counties of North Dakota, and Richland and Roosevelt counties of Montana. The company plans to increase its acreage to a target of 125,000 acres through leases, trades or other acquisitions.
Currently Halcon has 29 wells in production, with the two most recently completed wells averaging 543 and 610 barrels of equivalent per day flowing over the first 10 days of production. Halcon has a 28 percent interest in these two wells, both of which are in Williams County.
In addition to the producing wells, three wells are being drilled on Halcon acreage, with another two under completion and four others awaiting completion.
Through the remainder of 2012, Halcon plans to continue operating three drill rigs, and also plans to spud 12 to 16 horizontal wells on acreage in which the company holds a 33 percent working interest. Halcon is also working on initiatives intended to improve recoveries and reduce costs.
For its non-operated acreages, Halcon expects to participate in 25 to 30 working wells where it has an average interest of approximately 8 percent throughout the remainder of 2012.
Halcon also has interests and operations in the Woodbine/Eagle Ford and Eagle Ford/Austin Chalk plays in Texas, the Utica/Point Pleasant play in Pennsylvania, the Tuscaloosa Marine Shale in Louisiana, the Midway/Navarro play in Texas, and the Mississippi Lime in Oklahoma.
In mid-October the company purchased additional acres in the Utica/Point Pleasant play.
In August, Halcon closed on its acquisition of GeoResources, an independent that focused on U.S. plays in the Williston Basin, the Southwest and the Gulf Coast.
