Fri, Aug. 28, 8:42 AM
- Halcon Resources (NYSE:HK) +11.7% premarket after agreeing to issue $1.02B aggregate principal amount of new 13% senior secured notes due 2022 in exchange for $1.57B in outstanding unsecured debt securities, reducing the company's long-term debt by ~$547M.
- HK also says it received notice from the NYSE that the price of its common stock has fallen below the exchange's continued listing standard.
Mon, Aug. 3, 12:46 PM
Thu, Jul. 30, 4:30 PM
Wed, Jul. 29, 5:35 PM
- AIV, AMCC, AMGN, ATEN, AUY, AVD, AXTI, BAS, BCOR, BCOV, BRCM, BVN, CALD, CATM, CLW, CMLS, COHR, COLM, CPSI, CPT, CRAY, CTRL, CXP, DCT, DECK, DGI, DLR, DTLK, EA, EEP, EGO, EIX, ELLI, ES, ESS, EVHC, EXPE, FE, FEIC, FEYE, FLR, FLS, FR, FRGI, GB, GMED, HBI, HK, HME, HTCH, IM, IMMR, INT, ISBC, KAMN, KLAC, LEG, LNKD, LRE, LSCC, MOH, MTD, MTSN, MWA, MXWL, NGVC, NR, NSR, OLN, OMCL, OUTR, PCCC, PDFS, PKI, PODD, PTCT, PXLW, QLGC, QTM, RGC, RMD, RNG, ROVI, SAM, SB, SGEN, SKYW, SPF, SPN, SYA, SYNA, SZYM, TCO, TEP, TMST, TNAV, TNDM, TPX, TSYS, TXTR, UHS, VCRA, VVUS, WAGE, WBMD, WU, WWWW, YRCW, ZLTQ
Tue, Jun. 23, 9:50 AM
- Halcon Resources (HK +7.5%) opens higher after S&P upgrades its corporate credit rating to B- from SD (selective default), saying HK is unlikely to enter into additional debt-for-equity transactions which the ratings agency could view as distressed exchanges.
- The outlook remains negative, reflecting S&P's view that HK's leverage could deteriorate beyond expectations to approach levels considered unsustainable.
Thu, Jun. 4, 12:45 PM
Tue, Jun. 2, 12:45 PM
Mon, Jun. 1, 12:32 PM
- Halcon Resources (HK +2.8%) is higher following the disclosure that Chairman/CEO Floyd Wilson purchased 1M shares of he company's stock on the open market in transactions last Thursday and Friday.
- The stock was purchased at an average cost of $1.03/share, with a total value of $1,03M; following the transaction, Wilson now directly owns nearly 4.75M HK shares valued at ~$4.9M.
Tue, May 5, 4:35 PM
Mon, May 4, 5:35 PM
- ACLS, AGU, AIZ, ALL, AMRS, AMSG, ANAD, ANDE, ARC, ATSG, AWR, AXLL, BIO, BRDR, CENT, CERS, CLUB, COUP, CRAY, CSU, CTL, CVG, CYH, DK, DKL, DLR, DTLK, DVN, EA, ENPH, EXAM, FISV, FOSL, FTR, GCA, GHDX, GMED, GNMK, GPOR, GRPN, HK, HLF, HRZN, IAG, ICUI, IGTE, IRWD, JIVE, KAR, KGC, KONA, LC, MHLD, MM, MYGN, MYL, NDLS, NFX, NVGS, NYMT, OCLR, OKE, OKS, OUT, PAA, PACB, PAGP, PBPB, PKD, PXD, PZZA, QGEN, QNST, QUAD, REGI, REXX, RLOC, RNR, RP, RUBI, SBRA, SCTY, SKUL, SLF, SM, SPA, SUPN, TEG, TMH, TNET, TRNX, TSRA, TTGT, USNA, VVUS, WAGE, WES, WGP, WR, WSR, WSTC, WTR, WTW, XXIA, Y, ZAGG, ZEN, ZLTQ, ZU
Thu, Apr. 9, 6:36 PM
- Halcon Resources (NYSE:HK) bonds rallied today after the company said two investment funds advised by Franklin Templeton Investments agreed to a debt-for-equity swap.
- The funds will exchange $116.5M in principal of the 9.75% bonds maturing in 2020 for 66.5M HK common shares; the notes rose as much as $0.0375 on the dollar to yield 15.4% today in heavy volume.
- The swap, which will reduce HK's debt, is expected to close this month, and comes after the company last month announced a $150M equity offering.
- Franklin will become the second largest publicly disclosed stake in HK shares, according to Bloomberg; Franklin is among the largest publicly disclosed holder of bonds for offshore drillers including Hercules Offshore (NASDAQ:HERO) and Vantage Drilling (NYSEMKT:VTG).
Mon, Apr. 6, 12:44 PM
Sat, Mar. 28, 8:25 AM
- The number of companies with the worst below-investment grade debt ratings has jumped to a two-year high of 184 firms, with the oil price rout pushing a record 25 U.S. energy producers onto this month's list at Moody’s.
- The oil-and-gas and oil services companies listed account for a record 13.6% of the total of stressed companies rated B3 - six notches into junk territory - with a negative outlook for future ratings changes or lower; historically, oil firms have averaged ~8% of the firms on the list.
- During Q1, a dozen oil companies including Energy XXI (NASDAQ:EXXI), Midstates Petroleum (NYSE:MPO) and Halcon Resources (NYSE:HK), were added.
- If oil firms’ liquidity issues do not get fixed and they keep getting downgraded, the industry likely will see more debt defaults, Moody’s analyst Julia Chursin says.
- The total of 184 financially stressed companies is up 16% Y/Y but still far short of the 290 borrowers at the peak of the financial crisis in Q1 2009.
Wed, Mar. 18, 11:49 AM
- "$60 is the new $90" when it comes to oil prices, Global Hunter says as it turns more bearish on the prospects for "the fringier or Tier 2 E&Ps" and adding that some "simply can't compete."
- The firm slaps Sell ratings on Halcon Resources (NYSE:HK), saying "NAV upside appears limited given relatively light tier 1/economic inventory and huge share count," SandRidge Energy (NYSE:SD), citing "falling oil production and hedges rolling off leads to lower cash flows, reducing ability to grow," as well as Goodrich Petroleum (NYSE:GDP), Triangle Petroleum (NYSEMKT:TPLM) and Bill Barrett (NYSE:BBG).
Thu, Feb. 26, 6:19 PM
- Halcon Resources (NYSE:HK) is reiterated with a Buy rating and a $3 price target, raised from $2.50, at MLV, which cites surprises in its Q4 results including a strong reserve report and reaffirmation of its borrowing base.
- Investors had been focusing on HK's balance sheet and liquidity, so the recent reaffirmation of its borrowing base at $1.05B is a significant event, MLV says after it had expected a nearly 15% reduction to ~$900M.
- The firm says HK’s liquidity position is protected by one of the strongest hedge books in the sector, including 90% of 2015 estimated oil volumes hedged at a weighted average floor price of ~$87/bbl which should translate into realized gains of $350M-plus this year, or about one-third of revenue.
Wed, Feb. 25, 4:17 PM
HK vs. ETF Alternatives
Halcon Resources Corp is an oil and natural gas company, which is engaged in the acquisition, production, exploration and development of onshoreliquids-rich oil and natural gas assets in the United States.
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