Halcon Pours $378M Into East Texas Oil, Gas Assets

Law360, New York (June 6, 2012, 2:44 PM EDT) -- Energy giant Halcon Energy Resources Corp. will purchase an interest in East Texas oil and gas leases in a $378 million cash-and-stock deal to boost its presence in the oil-rich Woodbine shale formation, according to a Tuesday regulatory filing.

In the transaction, Halcon will fork over $222 million in cash plus 16.5 million of its shares to private oil and gas companies that are not named in the U.S. Securities and Exchange Commission filing. The Houston-based company expects to close the deal by the end of...
To view the full article, register now.