Halcón Resources Announces the Sale of its Delaware Basin Water Infrastructure Assets for $325 Million
HALCON RESOURCES (HK)
Last halcon resources earnings: 5/9 05:00 pm
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US:NYSE Investor Relations:
halconresources.com/investors/events-and-presentations
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Source: GlobeNewswire
Denver, Colorado, Oct. 31, 2018 (GLOBE NEWSWIRE) -- Halcón Resources Corporation (NYSE:HK) (“Halcón” or the “Company”) today announced it has entered into a definitive agreement to sell all of its water infrastructure assets across the Delaware Basin to a private company for up to $325 million in cash, subject to customary closing conditions and adjustments. $200 million of the purchase price is payable in cash upon closing, with an additional $125 million payable on a deferred basis over a five year period based on meeting certain annual incentive thresholds. The effective date of the transaction is October 1, 2018. The transaction is expected to close before December 31, 2018. Assets included in the transaction include water gathering lines, saltwater disposal wells, freshwater wells and water recycling facilities. There are no drilling or throughput commitments associated with the transaction. None of Halcón’s oil and gas infrastructure assets are included in
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