Halcon Resources Corp
Latest Halcon Resources Corp News and Updates
Horizontal rig count tapers off after attaining historic high
Horizontal rig counts had been setting and breaking new records before last week’s fall, which marked the third decrease in the past 16 weeks.
Lower US Crude Oil Production Forecasts for 2019
The EIA reported that US crude oil production increased by 100,000 bpd (barrels per day) to a record high of 10.9 MMbpd on June 1–8.
Horizontal rig count on top again in the US
Horizontal wells increase the length of the well that’s exposed to the reservoir. This increases production. In vertical drilling, a well goes straight down until it reaches the formation.
Crude Prices Fell Again Due to Long-Term Oversupply Concerns
NYMEX-traded WTI crude oil futures for March delivery fell and closed at $29.64 per barrel on February 19. Oil prices fell due to long-term oversupply concerns.
Weakest Upstream Stocks in the Week Ending September 21
Talos Energy, an exploration and production company involved in offshore drilling, was the weakest upstream stock in the week ending September 21.
ConocoPhillips Outperformed Crude Oil: Positive for Its Uptrend
For the week ending October 20, 2017, crude oil (USO) prices rose from $51.45 per barrel to $51.84 per barrel—an increase of 0.76%.
Crude Oil Prices Have Fallen 11% since October 9
December WTI crude oil futures contracts trading in NYMEX fell by 1.4% on Monday, October 26, 2015. Crude oil prices fell for the second day.
Can the US Dollar Index Help WTI Crude Oil Prices?
The US Dollar Index fell ~0.13% to 93.89, and July WTI oil futures rose ~1.2% on June 5.
North American Oil and Gas Producers’ Debt Rose in 2015
AlixPartners surveyed 134 public companies in the US and Canada. The surveys showed that they had a cumulative long-term debt of more than $353 billion in 2015.
Long Positions Fall in the CFTC’s Commitment of Traders Report
The CFTC’s COT report states that hedge funds reduced their long positions for the week ending January 12, 2016. The net long positions fell by 20,673 contracts to 163,504 contracts during the week.
Why the horizontal rig count broke a record again
For the week ending November 14, 2014, the number of horizontal rigs increased by seven from the previous week’s count. Currently, there are 1,369 horizontal rigs.
Russia and OPEC: Key Bearish Catalysts for 2016
Russia’s energy minister reported that Russia is targeting to produce ~10.9 MMbpd of crude oil in 2016 compared to 10.7 MMbpd in 2015. It’s the highest in 30 years.
OPEC-Russia Meeting: Will It Stabilize the Crude Oil Market?
On March 14, OPEC’s delegates reported that Russia, Saudi Arabia, Venezuela, and Qatar will meet in Doha in April. The meeting will renew talks to stabilize the oil market.
Horizontal rig count is back on record breaking spree
For the week ending September 26, 2014, the number of horizontal rigs increased by six to 1,347—compared to 1,341 last week. This is the highest horizontal rig count on record.
Does Seasonality Impact the Crude Oil Inventory?
US commercial crude oil (USO) (UWTI) inventories fell by 3.4 MMbbls (million barrels) compared to the previous week for the week ending May 6, 2016.
Crude oil prices may determine future for some shale plays
From August to November, returns on drilling wells in shale plays such as the Eagle Ford dropped from more than 20% to the 15% range.
Why investors should monitor last week’s drop in oil rig count
This week’s fall in oil rig count marked the third decrease in the past four weeks, and the highest decrease since August 22’s fall.
US oil rigs lose steam after reaching a record high
Last week, the Baker Hughes oil rig count decreased by nine—from 1,601 to 1,592. This marked the first decrease in the past five weeks. Despite the decrease, oil rigs are still close to the record high.
US Tech Companies Face Hong Kong National Security Law
China’s controversial Hong Kong national security law could be a nightmare for US tech companies. Overall, the law would give China more power.
Must-know: Changes in horizontal and vertical rig counts
For the week ending October 31, 2014, the number of horizontal rigs decreased by two from the previous week’s count. Currently, there are 1,353 horizontal rigs.
Why the horizontal rig count is the highest on record
For the week ended October 24, the number of horizontal rigs increased by two to 1,355, the highest horizontal rig count on record.
Why is the breakeven price of crude oil so important?
Knowing the breakeven price of crude oil is important when trying to figure out what OPEC needs in order to regain market share.
Why it’s important to know the crude oil extraction process
Before learning the costs components of crude oil extraction, let’s take a look at how producers extract crude oil from the ground.
How does the production cost of crude oil affect oil prices?
Recent consensus says the production cost of crude oil could range from $20 to $25 per barrel.
Upstream Losses This Week: LGCY, HK, WTI, SN, and XEC
In the week starting July 2, Legacy Reserves (LGCY) decreased from $6.90 to $6.22, a fall of almost 9.9%.
Upstream Gainers This Week: Gulfport Energy Leads
As of June 26, Gulfport Energy (GPOR) had risen ~6.9% from last week’s close of $11.62 to $12.42, above its 50-day and 200-day moving averages of $10.31 and $11.59, respectively.
Russia’s Crude Oil Production and OPEC’s Meeting
Russia’s crude oil output averaged 10.97 MMbpd (million barrels per day) in May. Russia’s crude oil production averaged 11.1 MMbpd in early June.
Analyzing Wall Street’s Targets for HK, XEC, JAG, LPI, and COG
To conclude our series, we’ll discuss analysts’ recommendations for this year’s weakest upstream stocks.
Wall Street’s Targets for the Worst-Performing Upstream Stocks
We’ll now look at Wall Street’s recommendations for the worst performers in 2018 from the US oil and gas production, or upstream, sector.
Halcon Resources’ Performance Year-to-Date
Year-to-date in 2018, Halcon Resources (HK) is turning out to be the worst-performing energy stock from the US oil and gas production, or upstream, sector.
Which Upstream Company Is the Biggest Gainer This Week?
So far this week, Legacy Reserves (LGCY) has risen from its last week’s close of $1.49 to $1.63 on October 10—a significant rise of more than 9%.
Top 5 Upstream Stocks with High and Low Implied Volatilities
On August 5, 2016, Stone Energy (SGY) had the highest implied volatility among the upstream stocks. Its implied volatility was ~355.5%.
Oil Producers Brace for Impact of US Dollar Depreciation
August West Texas Intermediate crude oil futures contracts trading on the NYMEX rose slightly by 0.59% and closed at $45.95 per barrel on July 15, 2016.
Crude Oil Fell almost 8% in the Last 2 Days: Is It the Turning Point?
August West Texas Intermediate crude oil futures contracts fell by ~2.8% and settled at $46.33 per barrel on Monday, June 27, 2016. Prices fell for the second day due to the aftermath of the Brexit vote on June 24.
Could US Crude Oil Inventory Rise for 3rd Straight Week?
On April 26, 2016, the API (American Petroleum Institute) released its weekly crude oil inventory report. It showed that US crude oil inventory fell 1.1 MMbbls for the week ended April 22.
What Are the Bullish Catalysts for Crude Oil Prices This Week?
The rise in gasoline demand in 2016 compared to 2015 has boosted gasoline prices. Consequently, it boosted crude oil prices.
Why OPEC’s Crude Oil Production Fell in February 2016
OPEC’s (Organization of the Petroleum Exporting Countries) crude oil production fell by 79,000 bpd (barrels per day) to 33.1 MMbpd (million barrels per day) in February 2016 compared to January 2016.
WTI and Brent Crude Oil Prices Fall Due to the Rising Dollar
WTI (West Texas Intermediate) crude oil futures contracts for April delivery fell 0.88% and settled at $32.78 per barrel on Friday, February 26, 2016.
Flat US Crude Oil Production Puts Pressure on Crude Oil Prices
The EIA (U.S. Energy Information Administration) reported that US crude oil production fell marginally by 14,000 bpd (barrels per day) to 9.2 MMbpd (million barrels per day) for the week ending January 22, 2016.
WTI Crude Oil Prices Rose after EIA Report
Crude oil prices have gained ~6.4% within the last two days, ignoring the gasoline and crude oil inventory builds.
US Crude Oil Production Could Be a Game Changer in 2016
The US crude oil production rose due to technological advancement, higher crude oil prices between 2010–2014, and cheaper credit facilities in 2015.
US Oil and Gas Companies’ Debt Exceeds $200 Billion
US oil and gas exploration and production companies are under severe pressure.
What Were OPEC Policies during Previous Crude Oil Crashes?
During the 1985-86 crude oil crash, OPEC (Organization of Petroleum Exporting Countries) decided to defend its market share by pumping more oil.
Commodity Meltdown: 19 Oil and Gas Companies in Bankruptcy
The net debt of US oil and gas exploration and production companies increased from $81 billion in 2010 to $169 billion by 1H15. The main reason is the catastrophic fall in crude oil prices.
Crude Oil Prices Held above $52 per Barrel for the Third Day
August WTI crude oil futures contracts settled above $52 per barrel for third day. Crude oil prices closed above the key support level of $52 per barrel as of July 14.
Why the EIA decreased Brent estimates more than WTI estimates
Lower WTI crude will hurt U.S. oil producers’ profitability. These companies include Whiting Petroleum, Halcon Resources, Laredo Petroleum and Pioneer Natural Resources.