Halcón Resources completed its financial restructuring and has emerged from its pre-packaged Chapter 11 bankruptcy cases.

All of the conditions under its plan of reorganization, which was confirmed by the U.S. Bankruptcy Court for the District of Delaware, have been satisfied or otherwise waived in accordance with the terms of the restructuring plan.

Approximately $1.8 billion of the company’s debt has been eliminated under the restructuring plan along with more than $200 million of annual interest expense going forward.

According to a related 8-K filing, Halcon entered into a $600 million exit senior secured reserve-based revolving credit facility with a lender group led by JPMorgan Chase as administrative agent.

Houston-based Halcón Resources is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the U.S.