Key Developments: Halcon Resources Corp (HK)
6.21USD
20 May 2013
$-0.03 (-0.48%)
$6.24
$6.23
$6.32
$6.10
4,111,262
5,118,356
$11.10
$5.26
Latest Key Developments (Source: Significant Developments)
Halcon Resources Corp Issues Q2 2013 Production Guidance
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
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
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
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
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
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
Halcon Resources Corp Announces Secondary Offering By Selling Shareholder
Halcon Resources Corp announced the commencement 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). The underwriters will also 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. Barclays, Goldman, Sachs & Co. and J.P. Morgan are acting as the joint book-running managers of the offering. Full Article
Halcon Resources Corporation Reaffirms Q3, Q4, FY 2012 Production Guidance
Halcon Resources Corporation announced that it is reaffirming its previously disclosed production guidance. The Company expects average daily production in the range of 11,000-13,000 Boe/d for the third quarter of 2012, 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 9,000-11,000 Boe/d for fiscal 2012. Full Article
Halcon Resources Corporation. Closes Acquisitions Of GeoResources, Inc. And Assets In East Texas; Amends Revolving Credit Facility
Halcon Resources Corporation. announced that it has closed on the previously announced acquisitions of GeoResources, Inc. (GeoResources) and assets in East Texas (East Texas Assets). The Company has also amended its senior secured revolving credit facility (Credit Facility) increasing the Company's liquidity. Concurrent with the closing of the GeoResources transaction, approximately $725 million of net proceeds from the issuance of senior unsecured notes on July 16, 2012 were released from escrow and used to fund the approximate $532 million cash portion of the GeoResources acquisition, and to partially fund the cash consideration of the East Texas Assets acquisition. Halcón also issued approximately 51.3 million shares of common stock to GeoResources stockholders to fund the stock portion of the transaction. Effective August 1, 2012, Halcón's Credit Facility was amended to increase the facility size to $1.5 billion, increase the borrowing base from $225 million to $525 million and modify the commodity hedging limits to allow the Company to hedge up to 85% of anticipated production from total proved reserves. The next borrowing base redetermination is scheduled for the fourth quarter of 2012. Full Article
Halcon Resources Corporation. Announces Pricing Of $750 Million of Senior Unsecured Notes
Halcon Resources Corporation. announced that it has priced $750 million aggregate principal amount of senior unsecured notes due 2020 (the Notes) in a private offering. The Notes will bear interest at a rate of 9.75% per annum and will be issued at 98.646% of par. The private offering was upsized from the previously announced $500 million aggregate principal amount of Notes. Halcón intends to use the net proceeds from the offering to fund the cash consideration payable in connection with its pending acquisition of GeoResources, Inc. (GeoResources) and for general corporate purposes. . The Company expects to close the offering into escrow on or about July 16, 2012, subject to release upon closing of the GeoResources acquisition. Full Article
TEXT - S&P raises Halcon Resources rating to 'B'
Overview -- U.S. oil and gas exploration and production company Halcon Resources Corp. has completed its transaction to acquire oil and gas producing properties in the Williston Basin in North Dakota and Montana targeting the Bakken and Three Forks formations. -- We are raising our corporate credit rating on Halcon to 'B' and removing it from CreditWatch. -- We are removing the rating from CreditWatch with positive implications. The outlook is stable. Rating Action On Dec
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
