Halcón Resources (HK) Misses Q3 EPS by 3c, Offers FY15 Outlook

Halcón Resources (NYSE: HK) reported Q3 EPS of $0.03, $0.03 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $306.5 million versus the consensus estimate of $317.7 million.

Preliminary 2015 Outlook

In response to lower oil prices, the Company expects to operate six rigs in 2015, five rigs less than originally planned. Halcón's preliminary drilling and completion budget for 2015 is $750 to $800 million. Despite the reduced capital budget, the Williston Basin and El Halcón assets are expected to drive year-over-year pro forma production growth of 15% to 20% in 2015.

For earnings history and earnings-related data on Halcón Resources (HK) click here.

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