Exhibit 99.1

Halcón Resources Announces Second Quarter 2018 Results, Provides an Operational Update and Revised 2018 Guidance

DENVER, COLORADO — August 1, 2018 — Halcón Resources Corporation (NYSE:HK) (“Halcón” or the “Company”) today announced its second quarter 2018 financial and operating results, provided an operational update and issued revised 2018 guidance.

Net production for the three months ended June 30, 2018 averaged 12,769 barrels of oil equivalent per day (Boe/d), representing a 16% increase from the first quarter of 2018 net production of 10,967 Boe/d.  Production for the second quarter was comprised of 68% oil, 16% natural gas liquids (NGLs) and 16% natural gas.  Second quarter production was negatively impacted by downtime primarily related to unexpected power reliability issues and inclement weather.  The Company estimates that without this excess downtime, second quarter average daily production would have been ~13,300 Boe/d.

Halcón generated total revenues of $55.4 million for the second quarter of 2018.  The Company reported a net loss available to common stockholders of $(16.3) million or a net loss per basic and diluted share of $(0.10) for the same period.  After adjusting for selected items (see Selected Item Review and Reconciliation table for additional information), the Company generated net income of $24.2 million, or $0.15 per diluted share for the second quarter of 2018.  Adjusted EBITDA (see EBITDA Reconciliation table for additional information) totaled $55.1 million for the second quarter of 2018 as compared to $18.1 million for the first quarter of 2018.  The second quarter adjusted EBITDA included approximately $30.8 million of proceeds related to a monetization of MidCush hedges that occurred in the quarter.

Excluding the impact of hedges, Halcón realized 90% of the average NYMEX oil price, 39% of the average NYMEX oil price for NGLs and 52% of the average NYMEX natural gas price during the second quarter of 2018.  Excluding the impact of the MidCush hedge monetizations, the Company realized hedge losses of approximately $5.0 million during the second quarter.

Liquidity and Capital Spending

As of June 30, 2018, Halcón had liquidity of approximately $294 million consisting of $96 million of cash on hand plus an undrawn revolver borrowing base of $200 million less $2 million of letters of credit outstanding.

During the second quarter of 2018, the Company incurred capital costs of approximately $132 million on drilling and completions, $214 million on acquisitions and divestitures (including the $200 million acquisition of its West Quito Draw properties) and $29 million on infrastructure, seismic and other.

Hedging Update

As of August 1, 2018, Halcón had 11,500 barrels per day (Bbl/d) of oil hedged for the last six months of 2018 at an average WTI NYMEX price of $53.03 per barrel (Bbl).  For 2019, the Company has 15,504 Bbl/d of oil hedged at an average WTI NYMEX price of $56.27/Bbl.  For 2020, Halcón has 1,500 Bbl/d of oil hedged at an average WTI NYMEX price of $60.00/Bbl.  Additionally, the Company has 8,000 Bbl/d of MidCush vs. NYMEX WTI basis differential swaps in place for the second half of 2018 at -$11.69/Bbl, 12,000 Bbl/d in place for the first half of 2019 at -$3.02/Bbl and 4,000 Bbl/d in place for the second half of 2019 at -$3.95/Bbl.  Halcón also has 6,000 Bbl/d of Magellan East Houston vs. NYMEX WTI basis differential swaps in place for 2020 at $2.56/Bbl.

As of August 1, 2018, the Company had 7,500 MMBtu/d of natural gas hedged for the last six months of 2018 at an average price of $3.16/MMBtu.  For 2019, Halcón has 20,000 MMBtu/d of gas hedged at an average price of $2.80/MMBtu.  The Company also has 15,000 MMBtu/d of WAHA vs. NYMEX gas basis differential swaps in place for the second half of 2018 at -$1.10/MMBtu in addition to 25,500 MMBtu/d in place for the full year 2019 at -$1.18/MMBtu.

As of August 1, 2018, Halcón had 2,500 Bbl/d of NGL swaps in place for 2019 at an average price of $29.09/Bbl.

Operations Update

The Company is currently producing in excess of 13,750 Boe/d net and running three operated rigs in the Delaware Basin.  The Company expects to maintain this rig level through the remainder of 2018 in addition to running one full-time frac crew.

Halcón currently holds 21,987 net acres in its Monument Draw area.  The Company has eight horizontal Wolfcamp wells currently producing, two of which began producing in mid-July.  Additionally, Halcón has one well flowing back after completion, one well being completed and four wells waiting on completion.  Halcón expects to have all of these wells online by the end of the third quarter of 2018, bringing its total producing horizontal wells to 14, with no additional wells planned to be put online in Monument Draw until early 2019.

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Halcón currently holds 10,834 net acres in its West Quito Draw area.  The Company recently spud its first two operated horizontal Wolfcamp wells which are scheduled to be completed early in the fourth quarter of 2018.  In addition to these two wells, the Company expects three more wells to be put online in West Quito Draw around year end 2018.

Halcón currently holds 26,859 net acres in its Hackberry Draw area.  The Company has drilled and completed 15 horizontal wells (13 Wolfcamp, one 2nd Bone Spring and one 3rd Bone Spring).  Halcón has one well flowing back after frac and two wells currently being drilled.  Including the well currently flowing back after frac, the Company expects to put five additional wells online in Hackberry Draw before year end 2018.

Recent Well Results

Within its Monument Draw area in Ward County, Halcón’s Sealy Ranch 6401H well began producing oil in late June.  This Wolfcamp well was drilled in the central portion of Monument Draw and completed with a 9,591’ effective lateral length.  The well reached a 2-stream peak 24 hour IP rate of 2,219 Boe/d (89% oil) on a 38/64” choke.  The current 30-day average rate on this well is 1,756 Boe/d (86% oil) and continues to increase.  The Company also recently began flowing back its Sealy Ranch 7701H and 7702H wells with average lateral length of 9,952’.  These wells were completed “wine rack style” in the lower and upper Wolfcamp zones 330’ apart horizontally and 250’ apart vertically.  The daily rates on these wells continue to increase with the latest 2-stream peak 24 hour IP rate for each well reaching 1,500 and 1,300 boe/d, respectively.

Within its Hackberry Draw area in Pecos County, Halcón recently put the Bobby West 1H well on production.  The Bobby West 1H, located in the northeast portion of Hackberry Draw, was completed with a 9,755’ effective lateral length and had a 2-stream peak 24 hour IP rate of 1,352 Boe/d (89% oil) on a 34/64” choke in addition to a 30 day peak 2-stream IP rate of 1,085 Boe/d (87% oil).

Long-Term Oil and Gas Takeaway Agreements

Halcón recently signed a 15-year agreement with an affiliate of Salt Creek Midstream, LLC (“SCM”) that provides a comprehensive takeaway solution for the Company’s oil production in Monument Draw and West Quito Draw.  Under the terms of the agreement, SCM will construct oil lines to Halcón’s central production facilities in both the Monument Draw and West Quito Draw areas.  The oil lines will run to a terminal in Wink, Texas which will then have multiple outlets to various in-basin and long-haul pipelines.  The agreement also guarantees 25,000 Bbl/d of firm capacity on a long-haul pipeline to Corpus Christi, Texas, which is expected to be operational in the second half of 2019.  Halcón’s 25,000 Bbl/d of capacity can be increased on an annual basis.  The Company previously signed a 15-year gas takeaway and processing

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agreement with SCM whereby its Monument Draw and West Quito Draw gas will be taken to SCM’s newly constructed processing plant located near Pecos, Texas.  The agreements with SCM provide the Company with flow assurance for all of its expected near-term oil and gas production in both Monument Draw and West Quito Draw as well as premium coastal pricing for its oil when the long-haul pipeline is operational in 2019.  There are no minimum volume commitments or other similar arrangements associated with these agreements.   In Hackberry Draw, Halcón has an oil agreement in place through August 2019 and a gas agreement through 2027 providing flow assurance to the Midland market for its oil and the WAHA market for gas (firm capacity).  The Company is evaluating oil takeaway options for its anticipated Hackberry Draw production after August 2019.

Potential Sale of Halcón Field Services

Halcón has engaged Scotiabank and BMO Capital Markets as its financial advisors for a potential partial or full sale of its Halcón Field Services infrastructure assets.  The assets include water gathering, recycling, disposal and sourcing facilities, as well as gas gathering and treating infrastructure, power transmission and crude gathering systems across the Company’s operating areas in the Delaware Basin.

Revised 2018 Guidance

The guidance illustrated in the table below has been updated from our previously issued 2018 guidance to reflect three rigs running from late July 2018 through year-end 2018.

(1) Excludes capitalized G&A.

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Floyd C. Wilson, Halcón’s Chairman and CEO commented: “While greater than expected downtime during the quarter resulted in production coming in slightly lower than guidance, current low net crude realizations in the Delaware Basin dictate that now is not the time to press for higher production rates. Having said this, we expect improved power reliability and less downtime going forward with the construction of a new substation within our Hackberry Draw acreage to be completed in August 2018. Our four most recently completed wells in Monument Draw and Hackberry Draw are exceeding expectations. The Sealy Ranch 6401H may be our best well drilled to date in the Delaware Basin. With six additional wells planned to be put online in this area over the next few months, we will have proven up the Wolfcamp across the vast majority our acreage position in Monument Draw. We recently began drilling our first two-well pad at West Quito Draw and look forward to putting these wells online later this year. Finally, our recent agreement with Salt Creek Midstream is very important to us as it will allow us to get a majority of our oil production to premium Gulf Coast markets in the second half of 2019. We have an attractive multi-year business plan that provides for the continued delineation of our acreage while simultaneously building scale and improving our balance sheet. While our business plan includes a significant amount of outspend over the near-term, we have several options available to fund this outspend excluding the issuance of equity. These options include an HFS divestiture, joint ventures and other options. We are more confident than ever in the quality of our acreage given recent well results and technical findings. As we execute on our business plan we will create a very valuable enterprise over the next few years.”

Conference Call and Webcast Information

Halcón Resources Corporation (NYSE:HK) has scheduled a conference call for Thursday, August 2, 2018, at 11:00 a.m. EDT (10:00 a.m. CDT).  To participate in the conference call, dial (866) 548-4713 for domestic callers, and (323) 794-2093 for international callers a few minutes before the call begins and reference Halcón Resources conference ID 4068519.  The conference call will also be webcast live over the Internet on Halcón’s website at http://www.halconresources.com in the Investors section under Events and Presentations.

About Halcón Resources

Halcón Resources Corporation is an independent energy company focused on the acquisition, production, exploration and development of liquids-rich onshore oil and natural gas assets in the United States.

For more information contact Quentin Hicks, Executive Vice President of Finance, Capital Markets & Investor Relations, at 303-802-5541 or qhicks@halconresources.com.

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Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not strictly historical statements constitute forward-looking statements.  Forward-looking statements include, among others, statements about anticipated production, divestitures, liquidity, capital spending and drilling and completion plans.  Forward-looking statements may often, but not always, be identified by the use of such words such as “expects”, “believes”, “intends”, “anticipates”, “plans”, “estimates”, “projects”, “potential”, “possible”, or “probable” or statements that certain actions, events or results “may”, “will”, “should”, or “could” be taken, occur or be achieved.  Forward-looking statements are based on current beliefs and expectations and involve certain assumptions or estimates that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to, those set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017 and other filings submitted by the Company to the U.S. Securities and Exchange Commission (SEC), copies of which may be obtained from the SEC’s website at www.sec.gov or through the Company’s website at www.halconresources.com. Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. The Company has no duty, and assumes no obligation, to update forward-looking statements as a result of new information, future events or changes in the Company’s expectations.

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HALCÓN RESOURCES CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In thousands, except per share amounts)

HALCÓN RESOURCES CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In thousands, except share and per share amounts)

HALCÓN RESOURCES CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(In thousands)

HALCÓN RESOURCES CORPORATION

SELECTED OPERATING DATA

(Unaudited)

(1) Represents gathering and other and general and administrative costs per Boe, adjusted for items noted in the reconciliation below:

(2) General and administrative, as adjusted, is a non-GAAP measure that excludes non-cash stock-based compensation charges relating to equity awards under our incentive stock plans, as well as other cash charges associated with certain transactions. The Company believes that it is useful to understand the effects that these charges have on general and administrative expenses and total operating costs and that exclusion of such charges is useful for comparison to prior periods.

(3) Gathering and other, as adjusted, is a non-GAAP measure that excludes rig stacking charges incurred as a result of reductions in our drilling activities due to a dramatic decline in oil and natural gas prices beginning in 2014. The Company believes that it is useful to understand the effects that these charges have on gathering and other expense and total operating costs and that exclusion of such charges is useful for comparison to prior periods.

(4) Represents lease operating, workover and other expense, taxes other than income, gathering and other expense and general and administrative costs per Boe, adjusted for items noted in reconciliation above.

HALCÓN RESOURCES CORPORATION

SELECTED ITEM REVIEW AND RECONCILIATION (Unaudited)

(In thousands, except per share amounts)

(1) For the 2017 columns, this represents non-recurring charges in connection with  the redetermination of the Company’s borrowing base under its senior revolving credit facility.

(2) For the 2017 column, this represents the tax impact from the estimated alternative minimum tax generated primarily by the gain from the sale of the El Halcón Assets.

(3) Net income (loss) and earnings per share excluding selected items and cash flow from operations before changes in working capital adjusted for selected items are non-GAAP measures presented based on management’s belief that they will enable a user of the financial information to understand the impact of these items on reported results. Additionally, this presentation provides a beneficial comparison to similarly adjusted measurements of prior periods. These financial measures are not measures of financial performance under GAAP and should not be considered as an alternative to net income, earnings per share and cash flow from operations, as defined by GAAP. These financial measures may not be comparable to similarly named non-GAAP financial measures that other companies may use and may not be useful in comparing the performance of those companies to Halcón’s performance.

(4) For the three and six months ended June 30, 2018, net income (loss) and earnings per share excluding selected items and cash flow from operations before changes in working capital include approximately $30.8 million of proceeds related to a monetization of MidCush hedges that occurred in the second quarter of 2018.

(5) The impact of selected items for the three months ended June 30, 2018 and 2017 was calculated based upon weighted average diluted shares of 158.1 million and 144.3 million, respectively, due to the net income available to common stockholders, excluding selected  items.

The impact of selected items for the six months ended June 30, 2018 and 2017 was calculated based upon weighted average diluted shares of 156.2 million and 118.2 million, respectively, due to the net income available to common stockholders, excluding selected  items.

HALCÓN RESOURCES CORPORATION

ADJUSTED EBITDA RECONCILIATION (Unaudited)

(In thousands)

(1)  Adjusted EBITDA is a non-gaap measure, which is presented based on management’s belief that it will enable a user of the financial information to understand the impact of these items on reported results. Additionally, this presentation provides a beneficial comparison to similarly adjusted measurements of prior periods. This financial measure is not a measure of financial performance under GAAP and should not be considered as an alternative to GAAP. This financial measure may not be comparable to similarly named non-GAAP financial measures that other companies may use and may not be useful in comparing the performance of those companies to Halcón’s performance.