STIPULATION OF INTEREST

Exhibit 10.26

NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OF THE FOLLOWING INFORMATION FROM THIS INSTRUMENT BEFORE IT IS FILED FOR RECORD IN PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER’S LICENSE.

STIPULATION OF INTEREST

This Stipulation of Interest agreement is made and entered into this 20th day of August, 2012 (the “Stipulation of Interest”), by and between ENERGY & EXPLORATION PARTNERS, LLC whose address is P.O. Box 471428, Fort Worth, Texas 76147-1376 (“Assignor”), Halcón Energy Properties, Inc., a Delaware corporation, whose address is 1100 Louisiana Street, Suite 6700, Houston, Texas 77002 (“Halcón”), and the parties set forth below (the “Assignees”):

KSJR, LLC, a Texas limited liability company whose address is P.O. Box 68, Kenny, Texas 77452;

Karpman Enterprises, LP, a Texas limited partnership whose address is 2721 Manorwood Trail, Fort Worth, Texas 76109;

CDA Energy, LLC, a Texas limited liability company whose address is 1926 Stafford Rd., Grapevine, Texas 76015;

DLP Resources, LLC, a Texas limited liability company whose address is 3121 Sweetbriar Lane, Fort Worth, Texas 76109;

Alpine Ventures International, LLC, a Texas limited liability company whose address is 4654 Trevor Trail, Grapevine, Texas 76051;

INDY Exploration II, LLC, a Texas limited liability company whose address is P.O. Box 471428, Fort Worth, Texas 76147-1376;

Pettit 2012 Children’s Trust whose address is 2821 Lenox, Fort Worth, Texas 76107;

BHP Consulting LP, a Texa limited partnership whose address is 3821 Lenox, Fort Worth, Texas 76107; and

Brian Corbett Nelson, an individual, whose address is 3090 Bellaire Ranch Dr., Apt. 422, Fort Worth, Texas 76109.

WHEREAS, Assignor executed those certain Assignments of Overriding Royalty described in Exhibit A attached hereto (the “Employee Assignments”), that granted to Assignees an overriding royalty interest those certain Oil, Gas, and Mineral Leases more particularly described in the Employee Assignments (collectively, the “Subject Leases”);

WHEREAS, each Employee Assignment granted the respective Assignee with an undivided overriding royalty interest in the Subject Leases but the amount of said interest was subject to change, depending upon whether all other overriding royalty interests granted by Assignor created a total burden of greater than twenty-five percent (25%) of 8/8ths in any given lease;

WHEREAS, by that certain Assignment, Bill of Sale and Conveyance dated April 19, 2012, recorded in Volume 1415, Page 132, Real Property Records of Grimes County, Texas, and Volume 1154, Page 9, Official Public Records of Madison County, Texas, and Volume 1021, Page 34, Official Public Records of Walker County, Texas, Assignor assigned to Halcón an undivided sixty-five percent (65%) of 8/8ths interest in the Subject Leases and other oil, gas, and mineral leases (the “Halcón Assignment #1”);

WHEREAS, by that certain Assignment, Bill of Sale and Conveyance dated April 19, 2012, recorded in Volume 1415, Page 148, Real Property Records of Grimes County, Texas, and Volume 1154, Page 26, Official Public Records of Madison County, Texas, and Volume 1021, Page 50, Official Public Records of Walker County, Texas, Assignor assigned to Halcón an undivided sixty-five percent (65%) of 8/8ths interest in the Subject Leases and other oil, gas, and mineral leases (the “Halcón Assignment #2”);

WHEREAS, by that certain Assignment, Bill of Sale and Conveyance dated April 19, 2012, recorded in Volume 1415, Page 107, Real Property Records of Grimes County, Texas, and recorded in Volume 1154, Page 35, Official Public Records of Madison County, Texas, Assignor assigned to Halcón an undivided sixty-five percent (65%) of 8/8ths interest in the Subject Leases and other oil, gas, and mineral leases (the “Halcón Assignment #3”);

WHEREAS, by that certain Assignment, Bill of Sale and Conveyance dated April 19, 2012, recorded in Volume 1415, Page 124, Real Property Records of Grimes County, Texas, and Volume 1154, Page 51, Official Public Records of Madison County, Texas, Assignor assigned to Halcón an undivided sixty-five percent (65%) of 8/8ths interest in the Subject Leases and other oil, gas, and mineral leases (the “Halcón Assignment #4, and collectively, with Halcón Assignment #1, Halcón Assignment #2, and Halcón Assignment #3, the “Halcón Assignments”); and

WHEREAS, Assignor, Halcón, and Assignees have determined a need to fix the amount of the overriding royalty interest granted to Assignees pursuant to the Employee Assignments for the purpose of avoidance of all doubt and to stipulate the Assignees’ interest in the Subject Leases.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Assignor, Halcón, and Assignees hereby stipulate, mutually agree, and do hereby grant, assign, and convey, to the extent legally necessary to vest the Assignees with title to the overriding royalty interest in the Subject Leases in the amount set opposite each Assignee’s name in the table shown on Exhibit B attached hereto.

The parties acknowledge that the Halcón Assignments provided Halcón with a minimum net revenue interest of 65% of 75% of 8/8ths in the Subject Leases. Assignor hereby stipulates that, to the extent any of the Subject Leases have lease burdens in excess of 25% of 8/8ths, the amount by which such burdens exceed 25% of 8/8ths shall be borne by Assignor’s working interest in said lease.

All other terms, conditions, covenants, and agreements contained in the respective Employee Assignments shall remain in force and effect. The parties hereto also agree that the terms of this Stipulation of Interest shall be binding upon the parties, their successors, heirs, assigns and personal representatives.

This agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which shall constitute but one and the same instrument.

[Signature pages follow.]

In Witness Whereof, this Stipulation of Interest is executed, agreed to, accepted, and delivered by the parties as of the date first written above, but it is effective as of the date of each lease comprising the Subject Leases.

This instrument was acknowledged before me on this 20^th day of August, 2012, by Hunt Pettit, President of Energy & Exploration Partners, LLC, on behalf of said company.

This instrument acknowledged before me on this 28^th day of August, 2012, by Steve W. Herod, President of Halcón Energy Properties, Inc., on behalf of such corporation.

This instrument was acknowledged before me on this 20^th day of August, 2012, by R. Jane Couch, Managing Member of KSJR, LLC, on behalf of said company.

This instrument was acknowledged before me on this 20^th day of August, 2012, by Robert Karpman, President of Karpman Productions, Inc., the General Partner of Karpman Enterprises, LP, on behalf of said partnership.

This instrument was acknowledged before me on this 20^th day of August, 2012, by Steven C. Wilson, as Managing Member for CDA Energy, LLC and on behalf of said company.

This instrument was acknowledged before me on this 20^th day of August, 2012, by David L. Patty, Jr., as Managing Member of DLP Resources, LLC, on behalf of said company.

This instrument was acknowledged before me on this 20^th day of August, 2012, by Lawrence B. Van Ingen, as President of Alpine Ventures International, LLC, and on behalf of said company.

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This instrument was acknowledged before me on this 20^th day of August, 2012, by Hunt Pettit, Manager of INDY II, LLC, on behalf of said company.

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This instrument was acknowledged before me on this 20^th day of August, 2012, by Brian Huntley Pettit, Trustee of the Pettit 2012 Children’s Trust and on behalf of said trust.

This instrument was acknowledged before me on this              day of August, 2012, by Brian H. Pettit, Managing Member of BHP Consulting GP, LLC, as the General Partner of BHP Consulting, LP.

This instrument was acknowledged before me on this 20^th day of August, 2012, by Brian Corbett Nelson, an individual.

AFTER RECORDING RETURN TO:

Tom McNutt

Energy & Exploration Partners, LLC

Two City Place

100 Throckmorton, Ste. 1700

Fort Worth, TX 76102

Exhibit A

ASSIGNMENT OF OVERRIDING ROYALTY

Attached to that certain Stipulation of Interest dated August 20^th, 2012,

by and between Energy & Exploration Partners, LLC and KJSR, LLC et al.

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EXHIBIT B

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