- Halcon Resources (NYSE:HK) says it is filing for Chapter 11 bankruptcy protection to restructure its balance sheet and eliminate $1.8B in debt.
- HK says it has reached an agreement with some debt holders and plans to seek the support of additional lenders.
- HK says its restructuring plan will eliminate ~$1.8B of debt and $222M of preferred equity, and reduce its annual interest payments by more than $200M.