An overview of Halcon Resources’ 3Q14 revenues

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Halcon Resources’ 3Q14 revenues

Halcon Resources (HK) released its 3Q14 financial results on November 10, 2014. Other energy upstream companies that have recently released 3Q14 results include Chesapeake Energy (CHK), Anadarko Petroleum (APC), Sandridge Energy (SD), and Newfield Exploration Co. (NFX). Some of these companies are components of the Energy Select Sector SPDR ETF (XLE).

Quarterly revenues

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Quarterly revenues

The company recorded $306.51 million in total revenues for 3Q14, which remained almost unchanged from $305.0 million recorded in 3Q13. The increase was primarily due to higher production and higher total average price realization, despite the fall in crude oil price.

Production for 3Q14 increased 16% over 3Q13 to an average of 43,554 barrels of oil equivalent per day (Boe/d). The production includes 82% oil, 8% natural gas liquids (or NGLs), and 10% natural gas.

Despite crude oil price fall, HK’s revenues increased. This was primarily due to higher production, and higher natural gas price.

Consensus Revenues

Adjusted versus estimated revenues

As noted in the graph above, adjusted revenues exceeded analyst estimated revenues for most of the past nine quarters. Adjusted revenues beat consensus estimates by ~3% on an average in the past ten quarters.

The 4Q14 consensus sell side analysts’ revenues estimate for HK is ~$294.5 million, 4% lower than the $306.5 million adjusted revenues it recorded in 3Q14.

See the next part to learn about HK’s operational profitability as measured by EBITDA (earnings before interest, tax, depreciation, and amortization).

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