Richard Zeits On Halcon

Over at Seeking Alpha, Richard Zeits' summary on Halcon:

• Halcón's downdip wells in the East Texas Eagle Ford are performing admirably, which suggests that the best wells are still ahead.
• The Reveille #1H produced over 40,000 barrels of oil in 42 days, setting a new productivity record in the play.
• The Keystone #1H is another notable test which confirms the excellent quality of Halcón's acreage in Burleson County. 

The narrative:

Among the most recent results, I should note the Keystone #1H well located in the center of Burleson County, which produced ~20,000 barrels of oil in less than a month. This very impressive well is "on strike" with two other strong producers: Halcón's Reveille #1H well and Clayton Williams' Pivonka E Unit #1 well.The Keystone well, therefore, de-risks a large portion of Halcón's acreage in Burleson County, where the company has just started its drilling activity.

The following graph shows renewed growth momentum in Halcón's monthly production volumes in El Halcón. My well-by-well contribution analysis indicates that gross production rate in El Halcón in April increased by over 28% from the average production rate in Q1. The growth rate may, in fact, be even greater, given that not all wells may have been reported.

Much more at the link. The page is there on a limited time only.

Disclaimer: this is not an investment site. Do not make any investment decisions based on anything you read here or think you may have read here. 

Also, the Fly On The Wall noted that at least one analyst has raised the target price for Halcon:

Wunderlich raised its price target for Halcon Resources shares to $9 citing potential catalysts from the company's upcoming Tuscaloosa Marine Shale well results. The firm keeps a Buy rating on the stock.  

Older articles on asset sales by HK: first, the asset sale last fall, and second, the asset sale this spring:

• O&GJ, three separate conventional assets, $302 million
• Seeking Alpha, Woodbine, $450 million
• same link, are the Utica assets next?

*********************************************

Man-Made CO2 66 Million Years Ago?

or, Unexplained Global Warming?

Daily Digest.com is reporting:

During an expedition in southern Saskatchewan, Canada, a joint research team from McGill University and the Royal Saskatchewan Museum discovered the first fossil-record evidence of forest fire and subsequent regrowth and recovery of flora, revealing a snapshot of the ecology and climate on earth just before the mass extinction of the dinosaurs.

The researchers’ discovery revealed that at the forest fire site, the plants are dominated by flora quite similar to the kind that begin forest recovery after a fire today. Ancient forests recovered much like current ones, with plants like alder, birch, and sassafras present in early stages, and sequoia and ginkgo present in mature forests.

“We were looking at the direct result of a 66-million-year old forest fire, preserved in stone,” said Emily Bamforth, of the Royal Saskatchewan Museum and the study’s lead author. “Moreover, we now have evidence that the mean annual temperature in southern Saskatchewan was 10-12 degrees Celsius warmer than today, with almost six times as much precipitation.”

 McGill is one of the world's premiere universities.