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
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.
Mon, Apr. 6, 12:44 PM
Fri, Feb. 13, 5:36 PM
Fri, Feb. 13, 9:15 AM
Dec. 26, 2014, 4:23 PM
- Though most large-cap energy stocks closed the day with modest gains or losses, a slew of small-cap and mid-cap U.S. oil and gas plays sold off on a day that saw WTI crude once more fall below $55/barrel, and Henry Hub natural gas drop below $3/mmBtu for the first time since 2012, before bouncing a little.
- Decliners: EXXI -4.4%. SGY -4.5%. HK -4.1%. EVEP -2.3%. NFX -3.2%. SDR -3.3%. SN -5.2%. SD -5.9%. LGCY -2.2%. CHKR -3.3%.
Dec. 1, 2014, 3:32 PM
- Prices of bonds issued by low-rated energy companies are falling sharply despite today's rebound in oil prices, amid worries that this year’s slump in oil markets will lead to a cash crunch.
- The most actively traded junk bonds at midday were Linn Energy’s (LINE -5.8%) two B-rated notes due 2019, which fell 9% to $0.82 on the dollar, pushing yields up to ~11.5%; Halcon Resources' (HK -1.3%) 2021 bond, which started weakening Friday, has dropped 10% today to $0.69 on the dollar, pushing up the yield to 17%.
- Energy XXI’s (EXXI -15.8%) debt which matures in 2017 fell 5.5% to $0.85 on the dollar and yielding 15.5%; Quicksilver Resources' (KWK +38.3%) bonds due 2016 have rebounded slightly but still trade ~$0.22 on the dollar.
- Should oil prices fall below $65/bbl and stay there for the next three years, J.P. Morgan high-yield energy analyst Tarek Hamid estimates that up to 40% of all energy junk bonds could default over the next several years.
Dec. 1, 2014, 9:13 AM
Nov. 28, 2014, 10:28 AM
- Ladenburg Thalman throws in the towel on Oasis Petroleum (OAS -30%), Denbury Resources (DNR -14.9%), Resolute Energy (REN -18.3%) following OPEC's decision yesterday to hold production levels and the resulting tumble in crude oil, with WTI crude -6.4% to $69.95 per barrel.
- Some others: Bonanza Creek (BCEI -21.5%), Northern Oil & Gas (NOG -16.2%), Warren Resources (WRES -16.3%), Halcon Resources (HK -22%), Triangle Petroleum (TPLM -21%), Emerald Oil (EOX -26.4%), Kodiak Oil & Gas (KOG -19.3%).
Nov. 28, 2014, 9:17 AM
Nov. 14, 2014, 5:38 PM
Nov. 10, 2014, 5:59 PM
- Halcon Resources (NYSE:HK) -5.8% AH after reporting Q3 earnings and revenues that were short of analyst expectations, as it says it will cut nearly half the rigs it originally planned to operate next year due to sliding crude oil prices.
- HK says it expects to operate six rigs next year, five rigs less than originally planned, and reduces its 2015 capex budget to $750M-$800M from $950M in 2014.
- Despite the reduced capital budget, HK believes the Williston Basin and El Halcón assets should drive Y/Y production growth of 15%-20% in 2015.
- HK says it currently operates eight rigs across its holdings and expects to deliver annual production towards the high end of previously disclosed FY 2014 production guidance of 40K-42K boe/day.
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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