Houston, TX, Feb. 08, 2016 (GLOBE NEWSWIRE) -- Halcón Resources Corporation (NYSE: HK) (“Halcón” or the “Company”) today provided an update on its balance sheet initiatives.
As previously indicated, Halcón continues to proactively explore multiple options to strengthen its balance sheet. Over the course of 2015 the Company reduced its net debt by approximately $1 billion through various balance sheet restructuring efforts including debt for equity exchanges and discounted debt for debt exchanges.
The Company has significant liquidity, a valuable hedge book, quality assets, and a vested management team that is working hard on behalf of the Company and all of its stakeholders. Halcón has no formal plan or strategy in place at this time but continues to review options with respect to further restructuring its balance sheet. The Company does not intend to comment on inaccurate media reports related to such efforts or the professionals it may engage to assist the Company in its evaluation and does not intend to make any further announcements concerning its review of alternatives unless and until it determines that additional disclosures are necessary or appropriate.