Exhibit 99.1

Halcón Resources Announces Third Quarter 2018 Results and Provides an Operational Update

Record 30 and 60-Day IP Rates on Recent Monument Draw Wells

DENVER, COLORADO — November 7, 2018 — Halcón Resources Corporation (NYSE:HK) (“Halcón” or the “Company”) today announced its third quarter 2018 financial and operating results and also provided an operational update.

Net production for the three months ended September 30, 2018 averaged 14,609 barrels of oil equivalent per day (Boe/d), representing a 14% increase from second quarter production of 12,769 Boe/d.  Production for the third quarter was comprised of 73% oil, 14% natural gas liquids (NGLs) and 13% natural gas.  Third quarter production was negatively impacted by excess gas flaring primarily in the Company’s Monument Draw area.  Halcón estimates that without this excess flaring, third quarter average daily production would have exceeded 15,000 Boe/d.

Halcón generated total revenues of $61.6 million for the third quarter of 2018.  The Company reported a net loss available to common stockholders of $(81.8) million or a net loss per basic and diluted share of $(0.52) for the same period.  After adjusting for selected items (see Selected Item Review and Reconciliation table for additional information), the Company generated a net loss of $(9.0) million, or $(0.06) per diluted share for the third quarter of 2018.  Adjusted EBITDA (see adjusted EBITDA Reconciliation table for additional information) totaled $27.5 million for the third quarter of 2018 as compared to $55.1 million for the second quarter of 2018.  The second quarter 2018 adjusted EBITDA included approximately $30.8 million of proceeds related to a monetization of MidCush oil hedges.

Excluding the impact of hedges, for the third quarter of 2018 Halcón realized 79% of the average NYMEX oil price, 45% of the average NYMEX oil price for NGLs and 47% of the average NYMEX natural gas price.  Additionally, the Company realized hedge losses of approximately $9.6 million during the third quarter.

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Recent Monument Draw Well Results

Eight new long-lateral Wolfcamp wells were put online in the third quarter of 2018 in Halcón’s Monument Draw area.  Five of these wells have reached their 30-day and 60-day peak IP rates which averaged 1,753 and 1,558 Boe/d, respectively (80% oil).  Two of these wells, the Telluride 6201H and the Trinity 6205H, averaged 30-day and 60-day peak IP rates of 2,087 Boe/d (82% oil) and 1,840 Boe/d (81% oil), respectively.  The Trinity 6205H well produced nearly 55,000 barrels of oil in September, making it one of the top oil producing Wolfcamp wells drilled in all of Reeves and Ward counties since the beginning of 2017.  After being online for approximately three months, the Telluride 6201H and the Trinity 6205H wells continue to flow at very strong rates with a current average production rate in excess of 1,300 Boe/d (82% oil) per well.

Liquidity and Capital Spending

Halcón recently completed its fall 2018 borrowing base redetermination for its senior secured revolving credit facility.  The Company received commitments to increase its borrowing base from $200 million to $275 million upon the closing of the Company’s water infrastructure asset sale in December.  As of September 30, 2018, and pro forma for the recently announced water infrastructure asset sale and the increased borrowing base, Halcón had liquidity of approximately $418 million consisting of $145 million of cash on hand plus an undrawn commitment under its revolver borrowing base of $275 million less $2 million of letters of credit outstanding.  The Company expects this liquidity to fully fund its capital spending program beyond 2019.

During the third quarter of 2018, the Company incurred capital costs of approximately $96 million on drilling and completions and $39 million on infrastructure, seismic and other.  Halcón’s year-to-date drilling and completion capital spending through the third quarter of 2018 of $344 million includes $27 million related to science (i.e. shuttle logs, pilot wells, etc.) and presetting surface and intermediate casing for wells to be drilled and completed in 2019 and beyond.

Operations Update

Halcón is currently producing approximately 17,500 Boe/d net and is running three operated rigs in the Delaware Basin.  The Company expects to maintain this rig level through the remainder of 2018 and into early 2019 in addition to running one full-time frac crew over this same period.

Halcón currently holds 22,110 net acres in its Monument Draw area.  The Company has put online 14 horizontal Wolfcamp wells in this area since it began drilling here in the first quarter of 2017.  Halcón expects to bring a rig back to Monument Draw in December 2018.

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The Company currently holds 11,008 net acres in its West Quito Draw area.  Halcón recently completed its first two operated horizontal Wolfcamp wells which are currently flowing back after frac.  In addition to these two wells, the Company has drilled three more wells that are planned to be put online in West Quito Draw near year end 2018.

Halcón currently holds 23,816 acres in its Hackberry Draw area.  The Company has drilled and completed 18 horizontal wells in this area (16 Wolfcamp, one 2nd Bone Spring and one 3rd Bone Spring).  Halcón currently has two wells flowing back after frac and expects to put two additional wells online in Hackberry Draw before year end 2018.

Hedging Update

As of November 7, 2018, Halcón had 13,000 Bbl/d of oil hedged for the last three months of 2018 at an average WTI NYMEX price of $54.76 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 4,000 Bbl/d of oil hedged at an average WTI NYMEX price of $58.56/Bbl.  Additionally, the Company has 11,000 Bbl/d of MidCush vs. NYMEX WTI basis differential swaps in place for the fourth quarter of 2018 at -$10.64/Bbl, 14,000 Bbl/d in place for the first half of 2019 at -$3.58/Bbl and 5,000 Bbl/d in place for the second half of 2019 at -$4.54/Bbl.  Halcón also has 5,000 Bbl/d of Magellan East Houston vs. NYMEX WTI basis differential swaps in place for fourth quarter of 2019 at +$3.72 and 9,000 Bbl/d in place for 2020 at +$2.95/Bbl.

As of November 7, 2018, the Company had 7,500 MMBtu/d of natural gas hedged for the last three months of 2018 at an average price of $3.16/MMBtu.  For 2019, Halcón has 24,000 MMBtu/d of gas hedged at an average price of $2.81/MMBtu.  The Company also has 15,000 MMBtu/d of WAHA vs. NYMEX gas basis differential swaps in place for the fourth quarter 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 November 7, 2018, Halcón had 1,000 Bbl/d of NGL swaps in place for the last three months of 2018 at $32.50/Bbl and 4,252 Bbl/d in place for 2019 at an average price of $29.51/Bbl.

Sale of Water Infrastructure Assets

On October 31, 2018, Halcón entered into a purchase and sale agreement with a third party midstream water operator to sell 100% of its water infrastructure assets across all areas.  The agreement provides for upfront cash of $200 million and up to another $125 million of incentive payments payable if the Company meets certain thresholds for gross wells put online annually.    Halcón expects this transaction to close by December 31, 2018.

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Fourth Quarter 2018 Guidance

Halcón expects fourth quarter 2018 net production to average between 18,000 and 20,000 Boe/d (63-67% oil).  This guidance range is 1,000 Boe/d lower than the Company’s previous guidance range primarily as a result of third party gas infrastructure constraints and the Company’s decision to shut-in the Sealy Ranch 7506H in mid-October given excessive gas treating costs on this well.  Halcón expects to put this well back online in the first quarter of 2019 once it completes upgrades to its gas treating capabilities in Monument Draw.  The Company expects fourth quarter drilling and completion capital spending to total $75 to $95 million in addition to infrastructure spend of approximately $20 to $30 million (excluding water infrastructure spending).  Halcón plans to provide 2019 guidance in early 2019.

Floyd C. Wilson, Halcón’s Chairman and CEO commented: “It was a busy quarter for Halcón, and one in which we accomplished many goals.  As previously announced, we successfully entered into an agreement to monetize our water infrastructure assets at a premium value.  We also bolstered our liquidity position further by negotiating an increase in our borrowing base by $75 million.  We believe we have adequate liquidity in place to fully fund our capital spending in 2019 and 2020 assuming three to four rigs running.  We were able to finalize a firm commitment to get a majority of our oil to the Gulf Coast, which we expect to be in service during the third quarter of 2019.  We also had a very successful quarter with the drill-bit as we put eight new wells on-line in Monument Draw, all of which are exceeding expectations and a few of which have 30 and 60-day production rates at the top end of all recent wells drilled in Ward and Reeves counties.  We also continued to bring our recurring per unit operating costs down and kept our capital spending levels within expectations.  We did incur a significant amount of non-recurring gas treating charges in Monument Draw during the third quarter related to elevated chemical treating driven by the unexpected loss of a third party sour gas sales line.  The loss of this line also contributed to higher than expected gas flaring in the third quarter.  We expect these treating costs to decline significantly over the next couple of quarters as we build out our in-house gas treating infrastructure in Monument Draw.  Finally, we recently put online our first two wells in West Quito Draw and we expect these wells to be strong producers.  As we look forward to 2019, we are focused on continuing to grow our production and gain scale; but in a cost-efficient manner.”

Conference Call and Webcast Information

Halcón Resources Corporation (NYSE: HK) has scheduled a conference call for Thursday, November 8, 2018, at 11:00 a.m. EST (10:00 a.m. CST).  To participate in the conference call, dial (877) 451-6152 for domestic callers, and (201) 389-0879 for international callers a few minutes before the call begins and reference Halcón Resources conference ID 13684609.  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.

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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.

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, certain gas treating fees to remove hydrogen sulfide from natural gas produced from our Monument Draw properties and other costs.  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 column, 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 reversal of the $12.0 million alternative minimum tax generated primarily by the sale of the El Halcón Assets.

(3) Net income (loss) and earnings per share excluding selected items and cash flows 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 flows 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 nine months ended September 30, 2018, net income (loss) and earnings per share excluding selected items and cash flows 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 September 30, 2018 and 2017 was calculated based upon weighted average diluted shares of 158.0 million and 146.9 million, respectively, due to the net loss available to common stockholders, excluding selected  items. The impact of selected items for the nine months ended September 30, 2018 was calculated based upon weighted average diluted shares of 156.9 million, due to the net income available to common stockholders, excluding selected items. The impact of selected items for the nine months ended September 30, 2017 was calculated based upon weighted average diluted shares of 127.5 million, due to the net loss 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.

(2)  Adjusted EBITDA for the nine months ended September 30, 2018 includes approximately $30.8 million of proceeds related to a monetization of MidCush hedges that occurred in the second quarter of 2018.

(3)  Adjusted EBITDA for the three and nine months ended September 30, 2018 excludes approximately $13.7 million and $14.0 million, respectively, of costs to remove hydrogen sulfide from natural gas produced from the Company’s Monument Draw properties as a consequence of a third party pipeline temporarily going out of service.  The Company is temporarily allowed to exclude these non-recurring costs for purposes of calculating certain debt covenants under its Senior Credit Agreement through the first quarter of 2019.