Halcón (HK) CEO Wilson Comments on Shale Assets, Acquiring Drilled Assets - Cramer
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Halcón Resources Corp (NYSE: HK) shares are lower on the session amid Jim Cramer speaking with CEO Floyd Wilson on "Mad Money" Tuesday night, allowing Wilson to make a case for his company in the process.
Wilson said that Utica assets were delivering more oil than gas at this point, something he was hoping would happen. Additionally, he said that Eagle Ford assets would be a "huge opportunity" for Halcón.
On purchases of land from other companies, Wilson noted that shale drilling is best for those companies with the latest technology, which allows for drawing more oil and gas from the plays. He noted that it made sense for all parties involved for Halcón to acquire assets from peers.
Halcón installs its own pipeline to facilitate transportation of oil to where it needs to be.
Wilson wouldn't comment on whether or not there were hidden shale plays in the U.S. that might be bigger than what is currently being explored.
Cramer remained a bull on Halcón moving forward, liking the prospects of the company.
Wilson said that Utica assets were delivering more oil than gas at this point, something he was hoping would happen. Additionally, he said that Eagle Ford assets would be a "huge opportunity" for Halcón.
On purchases of land from other companies, Wilson noted that shale drilling is best for those companies with the latest technology, which allows for drawing more oil and gas from the plays. He noted that it made sense for all parties involved for Halcón to acquire assets from peers.
Halcón installs its own pipeline to facilitate transportation of oil to where it needs to be.
Wilson wouldn't comment on whether or not there were hidden shale plays in the U.S. that might be bigger than what is currently being explored.
Cramer remained a bull on Halcón moving forward, liking the prospects of the company.
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