Update on Halcon Resources -- SeekingAlpha

Link here to SeekingAlpha.com.

.... just after our October article, Halcon disclosed a large producing asset buy in the Williston Basin. Management added 81,000 net acres in Williams, Mountrail, McKenzie, and Dunn Counties, North Dakota for $1.45B. The company basically bought a swath of acreage across the heart of the play with several sweet spots included. Backing out the 10,500 BOEpd of current production at a conservative $80,000 per flowing BOE yields a modest adjusted acquisition price of $7,500 per net acre.

This is cheaper than operated peer Kodiak (currently valued at roughly $15,900 per production adjusted acre using 3Q volumes) and interesting since a chunk of the new acreage that will see HK rigs next year is in the FBIR where KOG points to much higher than Basin average EURs and where QEP recently paid roughly $21,000 per production adjusted acre.

Incredible article on Halcon. Go to the link for the entire story.