Halcon’s 2015 drilling budget

January 9, 2015 at 12:00a.m.

HOUSTON

Halcon Resources Corp. announced additional reductions to its 2015 drilling and completion budget.

Halcon’s drilling and completion budget for 2015 is $375 million to $425 million. Capital will be directed toward locations in the Fort Berthold area of the Williston Basin and El Halcon in East Texas.

In addition, the company expects to spend approximately $20 million on leasehold, infrastructure, seismic and other areas in 2015.

Halcon is planning to operate an average of two rigs in the Fort Berthold area and one rig in El Halcon in 2015. The company does not anticipate any meaningful lease expirations despite this reduced rig count. The company expects to produce an average of 40,000 to 45,000 barrels of oil equivalent per day in 2015.

First of Huron, Talmer merger

TROY, MICH.

Talmer Bancorp Inc. and First of Huron Corp. jointly announced Wednesday that the companies expect the previously announced merger transaction to close Feb. 6, subject to satisfaction of the remaining closing conditions set forth in the merger agreement.

First of Huron Corp. shareholders previously approved the merger in December 2014. All required regulatory approvals for the merger of First of Huron Corp. with Talmer have been received.

Talmer Bancorp Inc. is the holding company for Talmer Bank and Trust and Talmer West Bank with branches and lending offices in Michigan, Ohio, Illinois, Indiana, Maryland and Nevada.

US stocks bounce back from rough start to new year

NEW YORK

The stock market is bouncing back from a tough start to 2015.

Investors sent shares sharply higher for a second-straight day Thursday, erasing the market’s heavy losses from the first few days of the year.

The gains were driven by a combination of positive economic news from the U.S. and hopes for stimulus from Europe’s central bank. The price of oil is also showing signs of stabilizing after six months of heavy losses, and there is renewed confidence that the Federal Reserve will keep supporting the economy as growth outside the U.S. appears to be flagging.

The wild swings in stock prices likely will become more common this year as investors try to anticipate when, if at all, the Fed will start to raise interest rates, said JJ Kinahan, chief market strategist at TD Ameritrade.

Mortgage rates hit new lows

WASHINGTON

Average U.S. mortgage rates started the year by dipping to new lows, with the benchmark 30-year rate marking its lowest level since May 2013.

This week the nationwide average rate on the 30-year loan fell to 3.73 percent from 3.87 percent last week, mortgage giant Freddie Mac reported. The average for a 15-year mortgage, a popular choice for people who are refinancing, slid to 3.05 percent from 3.15 percent last week.

Staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .61, 26.700.11

Avalon Holdings,2.710.01

Clear Channel, .46 18.660.5

Cortland Bancorp, 15.970

Farmers Nat., .128.05-0.05

First Energy, 1.44, 38.960.28

Fifth/Third, .5219.420.39

FirstMerit Corp., .64,18.020.36

First Niles Financial, .32,9.400

FNB Corp., .48,12.760.36

General Motors, 1.2036.160.31

General Electric, .88,24.360.27

Huntington Bank, .20, 10.240.19

JP Morgan Chase, 1.60,60.251.18

Key Corp, .26,13.380.25

LaFarge, 17.000.14

Macy’s, 1.25, 67.750.2

Parker Hannifin, 1.92, 126.523.76

PNC, 1.92,88.291.54

RTI Intl. Metals,24.000.54

Simon Prop. Grp.,5.20,194.29-0.51

Stoneridge 12.630.2

Talmer Bank, 13.840.07

United Comm. Fin., .04 5.32-0.02

Selected prices at 4 p.m. Thursday. Provided by Stifel. Not to be construed as an offer or recommendation to buy or sell any security.