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Halcon awaiting results before continuing shale drilling here



Published: Tue, March 4, 2014 @ 11:00 p.m.

Staff report

YOUNGSTOWN

Texas-based Halcon Resources Corp. is awaiting results of two wells in the Utica shale play in eastern Ohio and western Pennsylvania before deciding to whether to continue drilling in the region.

Until it gets more results, the company is turning its attention to other areas.

“We don’t have any plans to move a rig in there [Utica] at this time,” Floyd C. Wilson, chairman and CEO of Halcon said last week during Halcon Resources’ fourth-quarter and full-year 2013 earnings conference call.

“We’ve got a well flowing back and a well resting. And we’re going to just wait and see what the results are there,” he said. “They haven’t been too wonderful in the far north part of the play, and we’re just going to see how we come out with these couple of new wells. It’s no part of our spending for this year at this moment, and it’s no part of our production expectations ... for this year at this moment.”

For the complete story, read Wednesday's Vindicator or Vindy.com.


Comments

1UticaShale(854 comments)posted 6 months, 2 weeks ago

A landowner up there in Mercer says they're broke. Their stock doesn't look good.

Hilcorp gets six new permits up there and Chevron gets two, last month. Sounds like Halcon is blaming anything but their own business.

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