Halcón Resources will file for Chapter 11 after entering into a restructuring support agreement with certain holders of its unsecured notes.
Halcón Resources completed its financial restructuring and has emerged from Chapter 11. JPMorgan Chase, acting as administrative agent for a bank group, provided a $600 million exit facility.
Halcón Resources filed voluntary petitions under Chapter 11 to pursue a pre-packaged plan of reorganization. JPMorgan and Wells Fargo have committed to provide a $600 million DIP facility.
Halcon Resources amended its credit agreement with a lender group led by JPMorgan Chase, as administrative agent, to reduce its borrowing base to $700 million.