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Halcón posts quarterly loss on $106 mln in derivative charges
July 30, 2014 / 8:32 PM / 3 years ago

Halcón posts quarterly loss on $106 mln in derivative charges

July 30 (Reuters) - Halcón Resources Corp, which produces oil in North Dakota and Texas, posted a quarterly loss on Wednesday due to a $106 million loss on oil and natural gas derivatives.

The company reported a net loss of $73.3 million, or 18 cents per share in the second quarter, compared with a net profit of $36.4 million, or 8 cents per share, in the year-ago period.

Excluding the derivative charges and other one-time items, the company earned 7 cents per share.

Production jumped 44 percent to 42,055 barrels of oil equivalent per day (boe/d).

Halcón said it expects to produce between 41,000 to 43,000 boe/d in the third quarter. (Reporting by Ernest Scheyder in New York; Editing by Lisa Shumaker)

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