Halcon seeks restructuring-support approvals

Halcon Resources Corp., Houston, has entered a restructuring-support agreement with holders of some of its debt that, if implemented, would eliminate about $1.8 billion of net debt and $222 million of preferred equity and cut its interest burden by more than $200 million/year.

If it receives the needed approvals, the company will make a prepackaged filing for voluntary bankruptcy. It has no requirement to file for bankruptcy if it doesn’t receive the approvals.

Halcon will operate as usual during restructuring.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...