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Halcon Resources to restructure through Chapter 11

May 18, 2016 5:19 PM ETBattalion Oil Corporation (HK) StockBATLBy: Carl Surran, SA News Editor50 Comments
  • 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.

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