Halcon swoops into the Permian while exiting the Eagle Ford in deals worth $1.2bn

Dollars continue to flood the Delaware. On 24 January 2017, Halcon Resources announced an agreement to acquire 20,478 net acres in the southern Delaware Basin from Samson Exploration LLC for US$705 million. The acreage is primarily located in Pecos County, Texas, and includes 2,600 boe/d in flowing production. In addition, Halcon entered into an option agreement to purchase an additional 15,040 net acres in Ward County, Texas for US$11,000/acre. To help fund the Pecos County acquisition, Halcon also announced the sale of its Eagle Ford assets ("El Halcon") for US$500 million to Hawkwood Energy LLC. The Eagle Ford assets include 80,500 net acres and approximately 6,000 boe/d in flowing production. The acquired Permian acreage in Pecos County lies on the edge of our Wolfcamp and Bone Spring sub-play outlines, concentrated among the southeastern fringe of the Delaware Basin.