NEW ORLEANS, March 24 (Reuters) - More work needs to be done to develop Halcón Resources Corp’s oil and natural gas assets before the company can be sold, Chief Executive Floyd Wilson said on Monday.
Executives have long stated that their endgame for the company, formed in 2011, would be a sale, although weak well results in Ohio’s Utica shale formation have hampered that goal. The company’s stock is down 45 percent in the past year.
“Our model is still to look for a sale at some point in the future,” Wilson said in an interview on Monday at the Howard Weil energy conference in New Orleans. (Reporting by Ernest Scheyder; Editing by Paul Tait)