Key Developments: Halcon Resources Corp (HK.N)

HK.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Halcon Resources Corp Declares Quarterly Dividend
7:31am EDT 

Halcon Resources Corp announced that On July 31, 2013, Halcón's Board of Directors declared a quarterly dividend on shares of its 5.75% Series A Cumulative Perpetual Convertible Preferred Stock equal to accrued dividends from the issue date of June 18, 2013 through September 1, 2013. The dividend will be paid on September 3, 2013 to holders of record on August 15, 2013.  Full Article

Halcon Resources Corp Issues Q3, FY 2013 Production Guidance
7:30am EDT 

Halcon Resources Corp announced that for third quarter of 2013, it expects production (Boe/d) to be in the range of 34,000 to 36,000 (Boe/d). For fiscal 2013, it expects production in the range of 30,000 to 34,000 (Boe/d).  Full Article

Halcon Resources Corp Prices Public Offering of $300 Million 5.75% Perpetual Convertible Preferred Stock
Thursday, 13 Jun 2013 09:12am EDT 

Halcon Resources Corporation announced that it has priced a public offering of 300,000 shares, or $300 million aggregate liquidation preference, of its 5.75% Series A Cumulative Perpetual Convertible Preferred Stock ("Perpetual Preferred Stock"). Each share of Perpetual Preferred Stock has a liquidation preference of $1,000 per share and is convertible, at the holder's option, initially into 162.4431 shares of Halcón's common stock based on an initial conversion price of approximately $6.16 per share of the Company's common stock, in each case subject to adjustments. Halcon does not intend to apply to list the Perpetual Preferred Stock on any securities exchange or any automated dealer quotation system. Halcón intends to use the net proceeds from the offering to repay a portion of its outstanding borrowings under its senior secured revolving credit facility. J.P. Morgan and Barclays are acting as joint book-running managers in connection with this offering.  Full Article

Halcon Resources Corp Announces Public Offering Of $300 Million Perpetual Convertible Preferred Stock
Wednesday, 12 Jun 2013 04:01pm EDT 

Halcon Resources Corp announced that it has commenced, subject to market conditions, an underwritten public offering of $300 million of the Company's Series A Cumulative Perpetual Convertible Preferred Stock. Halcón intends to grant the underwriters for the offering a 30-day option to purchase up to an additional $45 million in additional shares to cover over-allotments, if any. The Company intends to use the net proceeds from the offering to repay a portion of its outstanding borrowings under its senior secured revolving credit facility. J.P. Morgan and Barclays are acting as joint book-running managers in connection with this offering.  Full Article

Halcon Resources Corp Issues Q2 2013 Production Guidance
Thursday, 2 May 2013 07:30am EDT 

Halcon Resources Corp announced that for second quarter of 2013, it expects production of 27,000 Boe/d to 29,000 Boe/d.  Full Article

Halcon Resources Corp Announces Issue Of Common Stock
Thursday, 17 Jan 2013 04:15pm EST 

Halcon Resources Corp announced that its stockholders have approved the issuance of approximately 108.8 million shares of Halcón common stock upon the conversion of the convertible preferred stock issued to Petro-Hunt Holdings, LLC and an affiliated entity in connection with the Company's previously announced acquisition of two entities owning producing and undeveloped oil and gas assets in the Williston Basin. Halcón's stockholders have also approved the amendment of the Company's certificate of incorporation to increase its authorized common stock by approximately 333.3 million shares for a total of 670.0 million authorized shares of common stock.  Full Article

Halcon Resources Corp Announces Add-On Offering Of Senior Notes
Tuesday, 8 Jan 2013 04:15pm EST 

Halcon Resources Corp announced that it intends to offer an additional $400 million in aggregate principal amount of its 8.875% senior unsecured notes due 2021. The senior notes are being offered as additional notes to the $750 million aggregate principal amount of 8.875% senior notes due 2021 that the Company sold in a private placement on November 6, 2012. The additional senior notes and the notes issued on November 6, 2012 will be treated as a single class of debt securities and will have identical terms, other than the issue date. Halcón intends to use the net proceeds from the offering to repay outstanding indebtedness under its senior secured revolving credit facility and for general corporate purposes, including to fund a portion of the Company's 2013 capital expenditure program.  Full Article

Halcon Resources Corp Closes Williston Basin Acquisition And Related Financings
Thursday, 6 Dec 2012 04:15pm EST 

Halcon Resources Corp announced that it has closed on the previously announced acquisition of two entities owning producing and undeveloped oil and gas assets in the Williston Basin (Williston Basin Transaction) and related financings. Concurrent with the closing of the Williston Basin Transaction, approximately $726 million of net proceeds from the issuance of senior unsecured notes were released from escrow and applied towards funding the approximate $756 million cash portion of the acquisition. Halcón also issued approximately 10,880 shares of convertible preferred stock to Petro-Hunt Holdings, LLC and an affiliated entity to fund the stock portion of the acquisition. The effective date of the Williston Basin Transaction is June 1, 2012, and as such the final cash and stock consideration paid includes purchase price adjustments. The preferred stock issued to Petro-Hunt Holdings, LLC and an affiliated entity will automatically convert into approximately 108.8 million shares of the Company's common stock following an affirmative shareholder vote with respect to the conversion and an increase in Halcón's authorized common shares to accommodate the conversion. Effective December 6, 2012, and in conjunction with the closing of the Williston Basin Transaction, the borrowing base on the Company's senior secured revolving credit facility was increased from $525 million to $850 million.  Full Article

Halcon Resources Corp Reaffirms Q4 2012 Production Guidance; Raises FY 2012 Production Guidance
Thursday, 8 Nov 2012 07:30am EST 

Halcon Resources Corp announced that for the fourth quarter of 2012, it reiterated previously disclosed production guidance and expects average daily production in the range of 17,000-20,000 Boe/d for the fourth quarter of 2012 and average daily production in the range of 40,000-45,000 Boe/d for fiscal 2012.  Full Article

Halcon Resources Corp Announces Pricing of Secondary Offering by Selling Shareholder
Wednesday, 12 Sep 2012 06:20pm EDT 

Halcon Resources Corp announced the pricing of an underwritten secondary offering of 35,000,000 shares of its common stock offered by EnCap Energy Capital Fund VIII L.P. (the Selling Shareholder) at $7.00 per share. The underwriters have a 30-day option to purchase up to 5,250,000 additional shares (100% secondary) of common stock from the Selling Shareholder. Halcón will not sell any shares or receive any proceeds from the offering. The offering is expected to close on or about September 18, 2012, subject to customary closing conditions. Barclays, Goldman, Sachs & Co. and J.P. Morgan are acting as the joint book-running managers of the offering.  Full Article

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