Halcon Resources Corporation (NYSE:HK) plans to drill between four and six wells into the Utica Shale during the last six months of 2012. The first two wells in this program will be spud in October 2012.
Halcon Resources Corporation has about 130,000 net acres prospective for the Utica Shale/Point Pleasant formation. The leasehold is located in Trumbull and Mahoning Counties, Ohio, and Mercer, Venango and Crawford Counties, Pennsylvania.
Halcon Resources Corporation has obtained five drilling permits to date and expects to receive the other permits shortly. The company plans to shut in Utica Shale wells for up to 60 days prior to putting them onto production. The wells are shut in to enhance the long term recovery of hydrocarbons and the lack of infrastructure in the area to process and transport oil and gas.
Halcon Resources Corporation expects first production from the Utica Shale in the first quarter of 2013.
