Gulf Oil and Gas accountACCOUNT

Halcon Resources Closes Acquisitions

Source: www.gulfoilandgas.com 8/1/2012, Location: North America

Share |
Halcon Resources Corporation (Halcon or the Company) announced that it has closed on the previously announced acquisitions of GeoResources, Inc. ("GeoResources") and assets in East Texas (East Texas Assets). The Company has also amended its senior secured revolving credit facility (Credit Facility) increasing the Company's liquidity. Concurrent with the closing of the GeoResources transaction, approximately $725 million of net proceeds from the issuance of senior unsecured notes on July 16, 2012 were released from escrow and used to fund the approximate $532 million cash portion of the GeoResources acquisition, and to partially fund the cash consideration of the East Texas Assets acquisition.

Halcon also issued approximately 51.3 million shares of common stock to GeoResources stockholders to fund the stock portion of the transaction. The total transaction value for the East Texas Assets acquisition is approximately $300 million in cash plus the issuance of approximately 20.8 million shares of the Company's common stock to a consortium of private oil and gas companies. The effective date of this transaction is April 1, 2012. Effective August 1, 2012, Halcon's Credit Facility was amended to increase the facility size to $1.5 billion, increase the borrowing base from $225 million to $525 million and modify the commodity hedging limits to allow the Company to hedge up to 85% of anticipated production from total proved reserves. The next borrowing base redetermination is scheduled for the fourth quarter of 2012.

Mergers and Acquisitions News in United States >>

Trinidad and Tobago >>  7/13/2018 - Columbus, the oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America, is pleased to announce it has ...
United States >>  7/13/2018 - Total announces the closing of the acquisition of Engie’s portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of ...

Tanzania >>  7/11/2018 - Aminex is pleased to announce that its wholly-owned subsidiary, Ndovu Resources Limited, has signed a binding farm-out agreement ("Farm-Out") with The...
Norway >>  7/10/2018 - Aker BP and Aker Solutions are forming an alliance to deliver modification projects on three of Aker BP’s fields. 'We have worked closely with Aker So...

France >>  7/6/2018 - Total and Direct Energie announce the completion of the acquisition by Total of 73.04% of the share capital of Direct Energie1, for 42 euros per share...
Japan >>  7/3/2018 - JERA Co., Inc ("JERA") and EDF Trading Limited ("EDFT") are pleased to announce the signing of binding agreements to form an LNG optimisation and trad...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 |

More News

 

Oil & Gas Companies in United States >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.