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UPDATE 1-Halcon buys interest in oil, gas leases for $194 mln
May 11, 2012 / 11:59 AM / in 6 years

UPDATE 1-Halcon buys interest in oil, gas leases for $194 mln

May 11 (Reuters) - Halcon Resources Corp said it acquired a working interest in certain oil and gas leases for an initial price of about $194 million.

The oil and gas producer, which was formerly known as Ram Energy Resources, expects to close the deal in late June.

No production or proved reserves are currently attributable to the acquired interests, Halcon said in a regulatory filing.

Halcon bought GeoResources Inc in a $973 million deal last month. Chief Executive Floyd Wilson plans to build a portfolio of liquids-rich assets before putting Halcon on the block a few years down the line.

Halcon shares, which have lost about 76 percent of their value so far this year, closed at $9.47 on Thursday on the New York Stock Exchange.

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