HK is no Citi nor AIG when it comes to R/S 's apples to oranges .FW in 2012 performed his R/S for HK now look how that one worked out .The next one will be even worse due to the fact oil is not in favor and won't be for some time to come .
Form 8-K for HALCON RESOURCES CORP
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 18, 2015, Mr. David S. Hunt informed the board of directors (the "Board") of Halc�n Resources Corporation (the "Company") of his decision not to stand for re-election as a director at the Company's 2015 annual meeting of stockholders. The decision not to stand for re-election is not as a result of any disagreement with the Company. Mr. Hunt serves as a member of the Board's Reserves Committee.
2.To approve an amendment to our Amended and Restated Certificate of Incorporation to effect a one-for-five (1:5) reverse stock split of our common stock;
Form 8-K for HALCON RESOURCES CORP
Entry into a Material Definitive Agreement, Financial Statements and Exhibi
Item 1.01 Entry Into Material Definitive Agreement.
On March 18, 2015, Halc�n Resources Corporation (the "Company") entered into an Equity Distribution Agreement (the "Agreement") with BMO Capital Markets Corp., Jefferies LLC and MLV & Co. LLC (collectively, the "Managers"). Pursuant to the terms of the Agreement, the Company may sell, from time to time through the Managers, shares of the Company's common stock having an aggregate offering price of up to $150,000,000 (the "Shares"). Sales of the Shares, if any, will be made by means of ordinary brokers' transactions through the facilities of the New York Stock Exchange at market prices, or as otherwise agreed by the Company and the Managers.
Under the terms of the Agreement, the Company may also sell Shares from time to time to a Manager as principal for its own account at a price to be agreed upon at the time of sale. Any sale of Shares to a Manager as principal would be pursuant to the terms of a separate terms agreement between the Company and such Manager.
The Shares will be issued pursuant to the Company's existing effective shelf registration statement on Form S-3, as amended (Registration No. 333-188640).
The Agreement contains customary representations, warranties and agreements by the Company, indemnification obligations of the Company and the Managers, including for liabilities under the Securities Act of 1933, as amended, other obligations of the parties and termination provisions.
An affiliate of BMO Capital Markets Corp. is a lender under the Company's revolving credit facility and may receive a portion of the proceeds from the transactions contemplated by the Agreement, to the extent such proceeds are used to repay amounts drawn under the revolving credit facility. In addition, the Managers and their respective affiliates are full service financial institutions en
"Fed speaks at 2pm today and Thursday inventory #'s at 10.30 might be some thing to consider ?"
API data show 10.5 mln-barrel rise in U.S. crude supply SAN FRANCISCO (MarketWatch) -- The American Petroleum Institute late Tuesday reported an increase in crude supplies of 10.5 million barrels for the week ended March 13, according to sources. Analysts surveyed by Platts forecast a crude-supply climb of 3.7 million barrels. Sources said the API reported that gasoline stockpiles fell by 583,000 barrels, while distillate inventories fell 252,000 barrels. Following the data, April crude was at $42.70 a barrel in electronic trading, down from the $43.46 . The more closely watched Energy Information Administration report is due Wednesday
Joining an increasingly popular guessing game on potential take-out targets in the oil and gas industry, an analyst published some further speculation Monday.
Topeka's Gabriele Sorbara added to a growing list of "most likely" companies that might get acquired:
• Cabot Oil & Gas Corporation (NYSE: COG)
• Energen Corporation (NYSE: EGN)
• Diamondback Energy Inc (NASDAQ: FANG)
• Gulfport Energy Corporation (NASDAQ: GPOR)
• Laredo Petroleum Inc (NYSE: LPI)
• Magnum Hunter Resources Corp (NYSE: MHR)
• Oasis Petroleum Inc. (NYSE: OAS)
"All of them would require significant premiums" from would-be acquirers above their current share price, according to Sobara, who rates each of the companies at Buy.
Talk has been very cheap lately about potential oil patch mergers, but Forbes reported recently that deals in 2015 so far have been lagging compared with last year.
Through late February there have been seven deals in the upstream sector, totaling $443 million, versus 34 deals worth $12 billion during the first two months of 2014.
"Plenty of discussions are taking place, yet buyers and sellers cannot find common ground on where commodity prices will end up," Forbes reported.
In a research report published Monday, Canaccord Genuity analyst Karl Chalabala maintained a Buy rating on Magnum Hunter Resources Corp (NYSE:MHR) with a $3.00 price target, following last week’s year-end results. Magnum shares are currently trading at $2.17, down $0.12 or 5.24 percent.
Chalabala noted, “In our view, the potential liquidity from the undeveloped Ohio Utica joint venture, the Eureka Hunter stake sale, as well as the asset management agreement for Rockies Express firm transport letter of credit, result in $275 million in liquidity for the company by mid-year, with approximately $180 million of that in cash.”
Furthermore, “Based on our analysis, running a two rig program in perpetuity at strip prices on Magnum Hunter’s 90,200 undeveloped Ohio Utica acreage (Figure 2) yields a PV-10 of approximately $1.351 billion, and would point to the interest the company has in the JV process. We consider a large majority of this acreage core, and fully anticipate a successful closing by mid-year.”
Bottom line, “While we understand investor reticence to purchase the equity given the cap structure, in our view the upcoming high-probability liquidity events will enable the company to make it through the current commodity downturn and enable a cleaner balance sheet, particularly as natural gas demand rebounds in 2016 and beyond.”
Contract Size1,000 Barrels
Day's Range45.10 - 47.22
52 wk Range44.36 - 107.50
Last Trading Day04/20/2015