Halcón Resources plans to cut 2014 capital budget by 15 pct -CEO
NEW YORK, Sept 12
NEW YORK, Sept 12 (Reuters) - Oil and natural gas producer Halcón Resources Corp plans to cut its 2014 capital budget by 15 percent from the current level, its chief executive said on Thursday.
The company, which operates oil and natural gas wells in North Dakota, Texas and Ohio, is spending about $1.38 billion this year on drilling and completion of wells.
During a presentation to the Barclays Energy-Power Conference, Halcón CEO Floyd Wilson said the company would reduce 2014 capital spending by about 15 percent.
Wilson also said production at the company's El Halcón shale field in Texas is "significantly higher" than it was at the end of the second quarter, when it was 1,640 barrels of oil equivalent per day.
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