Halcón Resources March 2018

1 Halc n Resources Investor PresentationMarch 2018 This communication contains forward looking information regarding Halc n Resources that isintended to be covered by the safe harbor for "forward looking statements" provided by thePrivate Securities Litigation Reform Act of 1995. Forward looking statements are based onHalc n Resources current expectations beliefs,plans, objectives, assumptions and looking statements often, but not always, can be identified by words such as"expects", "anticipates", "plans", forecasts, guidance , "estimates", "potential", "possible","probable", or "intends", or where Halc n Resources states that certain actions, events orresults "may", "will", "should", or "could" be taken, occur or be achieved.

2 Statementsconcerning oil, natural gas liquids and gas reserves also may be deemed to be forward looking in that they reflect estimates based on certain assumptions, including that thereserves involved can be economically exploited. Statements regarding pending acquisitionsand dispositions or possible acquisitions and dispositions are forward looking statements;there can be no guarantee that acquisitions or dispositions close on the terms or within thetimeframe described, if at all. Forward looking statements are subject to risks anduncertainties which could cause actual results to differ materially from those reflected in thestatements. These risks include, but are not limited to: operational risks in exploring for,developing and producing crude oil and natural gas; uncertainties involving geology of oil andnatural gas deposits; the timing and amount of potential proceeds from planned divestitures;uncertainty of reserve estimates; uncertainty of estimates and projections relating to futureproduction, costs and expenses; potential delays or changes in plans with respect toexploration or development projects or capital expenditures; health, safety andenvironmental risks and risks related to weather such as hurricanes and other naturaldisasters; uncertainties as to the availability and cost of financing.

3 Fluctuations in oil andnatural gas prices; risks associated with derivative positions; inability to realize expectedvalue from acquisitions, inability of our management team to execute our plans to meet ourgoals; shortages of drilling equipment, oil field personnel and services; unavailability ofgathering systems, pipelines and processing facilities; and the possibility that laws,regulations or government policies may change or governmental approvals may be delayedor nResources'operations or financial results are included in Halc n Resources reports on file with the are cautioned that any forward looking statements are not guarantees of futureperformance and actual results or developments may differ materially from those expressedin forward looking statements.

4 Forward looking statements are based on assumptions,estimates and opinions of management nResources does not assume any obligation to update forward looking statements shouldcircumstances or such assumptions, estimates or opinions Looking Statements2 The SEC requires oil and gas companies, in their filings with the SEC, to disclose proved reserves, which are thosequantities of oil and gas , which, by analysis of geoscience and engineering data, can be estimated with reasonablecertainty to be economically producible from a given date forward, from known reservoirs, and under existingeconomic conditions (using unweighted average 12 month first day of the month prices), operating methods, andgovernment regulations prior to the time at which contracts providing the right to operate expire, unless evidenceindicates that renewal is reasonably certain, regardless ofwhether deterministic or probabilistic methods are usedfor the estimation.

5 The SEC also permitsthe disclosure of separate estimates of probable or possible reserves thatmeet SEC definitions for such reserves. These estimatesare by their nature more speculative than estimates ofproved reserves and are subject to greater uncertainties and, accordingly, the likelihood of recovering thosereserves is subject to substantially greater may use the terms resource potential and EUR in this presentation to describe estimates of potentiallyrecoverable hydrocarbons that the SEC rules prohibit from being included in filings with the SEC. These are based onthe Company s internal estimates of hydrocarbon quantities that may be potentially discovered through exploratorydrilling or recovered with additional drilling or recovery techniques.

6 These quantities do not constitute reserves within the meaning of the Society of Petroleum Engineer s Petroleum resource Management System or SEC rulesand are subject to substantially greater uncertaintiesrelating to recovery than reserves. EUR, or EstimatedUltimate Recovery, refers to our management s internalestimates of per well hydrocarbon quantities that may bepotentially recovered from a hypothetical future well completed as a producer in the area. For areas where theCompany has no or very limited operating history, EURs are based on publicly available information on operations ofproducers operating in such areas. For areas where theCompany has sufficient operating data to make its ownestimates, EURs are based on internal estimates by the Company s management and reserve engineers.

7 Drilling locations represent the number of locations that we currently estimate could potentially be drilled in aparticular area using well spacing assumptions applicable to that area. The actual number of locations drilled andquantities that may be ultimately recovered from the Company s interests will differ substantially. There is nocommitment by the Company to drill the drilling locations which have been attributed to any may use the term de risked in this presentation to refer to certain acreage and well locations where webelieve the relative geological risks related to recovery have been reduced as a result of drilling operations to , only a small portion of such acreage and locations may have been attributed proved undevelopedreserves and ultimate recovery from such acreage and locations remains subject to all of the recovery risksapplicable to unproved affecting ultimate recovery include.

8 (1) the scope of our on going drilling program, which will be directlyaffected by factors that include the availability of capital, drilling and production costs, availability of drilling servicesand equipment, drilling results, lease expirations, transportation constraints, regulatory approvals and other factors;and (2) actual drilling results, including geological and mechanical factors affecting recovery rates. In addition, ourproduction forecasts and expectations for future periods are dependent upon many assumptions, includingestimates of production decline rates from existing wells and the undertaking and outcome of future drilling activity,which will be affected by changes in commodity prices and presentation includes the financial measure Adjusted EBITDA , which is not in accordance with generallyaccepted accounting principles ( GAAP ).

9 While management believes that this measure is useful to investors, itshould not be used as a replacement for financial measures that are in accordance with GAAP. For additionalinformation, including a reconciliation of Adjusted EBITDA to the nearest comparable measure in accordance withGAAP, please see the Statements3 Pro Forma Halc n Resources Overview Over the past twelve months, Halc n has built a premier ~67,000 acre position in the Delaware Basin for ~$17,701/net acre (1)4 Note: See Cautionary Statements on page 3 for a discussion on risks associated with drilling locations and EURs.(1) Values production acquired at $35,000 per boe/d; assumes $59 MM of value attributed to infrastructure assets purchased in Hackberry Draw.

10 Assumes Monument Draw East Option is exercised. (2) Excludes non operated Basin OverviewTotal Company Acreage PositionMonument Draw Hackberry Draw Total Company~66,918 Net Acres2,183 Drilling Locations (2)Current Production of >12,000 Net Boe/dHalc n s initial wells results across its position have been strong and consistent with expectationsMonument Draw (Ward County) Net Acreage: ~29,359 with ~97% average Includes 7,680 net acres on eastern edge under option agreement for $10K/acre exercisable by 3/31/18 655 gross potential operated drilling locations(2) Wolfcamp EURs of ~ MMBoe (~80% oil) assuming 10K laterals West Quito Draw (Ward County) Net Acreage: ~10,524 with ~72% average 383 gross potential operated drilling locations(2) Wolfcamp EURs of ~ MMBoe (~50% oil) assuming 10K laterals Hackberry Draw (Pecos County) Net Acreage.