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Halcón adjusted Q1 profit beats Street, but net loss widens

By Ernest Scheyder

(Reuters) – Oil and natural gas producer Halcón Resources Corp (HK.N: Quote, Profile, Research, Stock Buzz) on Wednesday posted an adjusted profit in the first quarter that was higher than expected as a jump in production offset steep impairment charges.

But the company also reported a net loss of $77.9 million, or 19 cents per share, in the quarter compared with net income of $5.5 million, or a penny per share, in the year-ago period.

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