Gulf Oil and Gas accountACCOUNT

Halcon Resources Closes Acquisitions

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

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 >>

United States >>  7/5/2020 -  Berkshire Hathaway Energy, a subsidiary of Warren Buffett’s Berkshire Hathaway Inc., today announced it has executed a definitive agreement to acquir...
Brazil >>  7/3/2020 - Petrobras, in continuation of the communique released on May 15, 2020, informs the beginning of the binding phase regarding the sale of its remaining ...

Germany >>  7/1/2020 - Rolf Martin Schmitz, CEO of RWE AG: "This is the day we have been working towards for two years. The new RWE has been completed. It is a new, bigger a...
Malaysia >>  7/1/2020 - Eversendai Corporation Bhd announced to undertake the proposed acquisition of 100% equity interest in Vahana Offshore (M) Sdn Bhd (Vahana) and its sub...

Trinidad and Tobago >>  7/1/2020 - Columbus, the oil and gas producer and explorer focused on onshore Trinidad and Suriname, is pleased to confirm that on 30 June 2020 it has published ...
Trinidad and Tobago >>  6/30/2020 - Columbus, the oil and gas producer and explorer focused on onshore Trinidad and Suriname, is pleased to provide the following update related to its pr...

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 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.