Halcon Announces Second Round of Spending Cuts

摘要

For the second time in as many months, Halcon Resources has slashed its capital spending plans for 2015, this time by roughly 50%, as crude oil prices continue to tumble. The Houston-based firm, which is active in the East Texas Eagle Ford play and the Fort Berthold area of the Bakken Shale in North Dakota, said it now plans to allocate $375 million to $425 million to drilling and completions this year. That is down from planned 2015 spending of $750 million to $800 million that it had announced in November, which in turn was down from initial guidance of around $1 billion that it had provided in the summer.