Halcon Inks $1.45B Deal For Oil Assets In ND

Law360, New York (October 22, 2012, 12:22 PM EDT) -- Energy giant Halcon Resources Corp. will ratchet up its estimated proved reserves by more than 58 percent through a $1.45 billion deal for a chunk of Petro-Hunt LLC's plot in North Dakota's oil-rich Williston Basin, Halcon said Monday.

Under the terms of the cash-and-stock transaction, Halcon said it would pay $700 million in cash and offer the remainder in Halcon stock. The Houston company, formed in February through the $550 million recapitalization of RAM Energy Resources Inc., said it had nailed down financing commitments from Wells...
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