MDN recently reported that Halcon Resources has stopped drilling on their leased land in the Utica Shale (see Halcon Resources Stops Drilling, Gives Up on the Utica Shale). Halcon’s blunt-talking CEO, Floyd Wilson, famously said he didn’t want to drill any more underperforming (he used more colorful language) wells in the Ohio’s northern Utica and instead seemed to say the company’s focus would be further south. Then the company said nyet–no more wells drilled in 2014 in the Utica. From Wilson’s remarks yesterday at the Howard Weil energy conference in New Orleans, it appears that Halcon may not drill any more wells in the Ohio Utica…ever.
Wilson said yesterday at the investor’s conference that it is his end-game to sell Halcon to a bigger fish. Wilson started Halcon 2011. In order to sell the company, he’s working to make it more attractive to investors. Wilson knows a thing or two about building energy companies and selling them–he built up and sold Petrohawk Energy to BHP Billiton Plc in 2011 for $12.1 billion. Apparently he’s hoping to do something similar with Halcon, except this time around it’s more of a challenge. Below is a report on Wilson’s “Halcon is up for sale” remarks yesterday in New Orleans…
