Halcon Sells Oil Assets For $1.4B To Bruin E&P Partners
By Michael Phillis (July 11, 2017, 2:35 PM EDT) -- Energy company Halcon Resources Corp. has entered into an agreement that will offload its Williston Basin assets in North Dakota to Bruin E&P Partners for $1.4 billion in cash, according to a Tuesday announcement that said the deal will help raise Halcon's liquidity.
Bruin is a portfolio company of Arclight Capital Partners. The transaction will mean Halcon, which was reorganized just last year, will be a company with assets concentrated to a specific region.
"The sale of our Williston Basin operated assets transforms Halcon into a single-basin company focused on the Delaware Basin where we have more than 41,000 net acres in...
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