Houston, April 06, 2016 (GLOBE NEWSWIRE) -- Halcón Resources Corporation (NYSE: HK) (“Halcón” or the “Company”) today provided an update on the progress of its ongoing efforts to improve its balance sheet.
As previously announced the Company is working with PJT Partners and Weil, Gotshal & Manges LLP to explore opportunities to materially reduce its indebtedness while preserving liquidity. The Company is currently in discussions with certain stakeholders and is negotiating terms of a potential transaction which could materially reduce the Company’s indebtedness. There are no definitive agreements in place at this time and there is no assurance that such a transaction will be consummated, but the Company is encouraged by the progress made to date. Halcón will report additional information regarding its balance sheet initiatives as appropriate.
Forward-Looking Statements
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as "expects", "believes", "intends", "anticipates", "plans", "estimates", "potential", "possible", or "probable" or statements that certain actions, events or results "may", "will", "should", or "could" be taken, occur or be achieved. Forward-looking statements are based on current beliefs and expectations and involve certain assumptions or estimates that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to, those set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2015 and other filings submitted by the Company to the U.S. Securities and Exchange Commission ("SEC"), copies of which may be obtained from the SEC's website at www.sec.gov or through the Company's website at www.halconresources.com. Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. The Company has no duty, and assumes no obligation, to update forward-looking statements as a result of new information, future events or changes in the Company's expectations.
About Halcón Resources
Halcón Resources Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States.