Halcon Resources is lowering its capital budget for 2014 and keeping its production guidance the same at 38,000-42,000 boe/d.

The company originally planned to spend more than $1 billion, but has lowered its budget 14% to $950 million.

Approximately $125 million will be spent on leasehold, infrastructure, and seismic. Halcon also plans to divest $300-400 million in properties in 2014.

Read more at halconresources.com