Halcón Resources to sell oil leases in $303 mln deal

Thu Sep 12, 2013 8:28am EDT
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Sept 12 (Reuters) - Halcón Resources Corp said on Thursday it will sell leases in oil and natural gas reserves for $303 million.

The sales involve three transactions that are expected to close in the fourth quarter. Halcón did not disclose the buyers.

The land held about 21.2 million barrels of oil equivalent as of last December, most of which was crude oil and natural gas liquids. The land currently produces about 4,500 barrels of oil equivalent per day.

Halcón has said for months that it planned to sell off part of its portfolio it considered nonstrategic to focus on growth projects.

BMO Capital Markets and Barclays advised Halcón on the sale.