Halcon Faces a Severe Liquidity Crunch
After our first take on Halcon's first-quarter results we noted than the firm is on track to hit its production guidance, with just enough liquidity to keep drilling until achieving sustainable free cash flows around 2021 (assuming strip prices for oil and natural gas). That has not changed. However, management commentary on the May 10 conference call indicates that the liquidity situation is tighter than we thought. Specifically, the $50 million reduction in revolver availability was based on b...Halcon Resources is an independent energy company focused on the acquisition, production, exploration and development of onshore liquids-rich oil and natural gas assets in the U.S. The company focuses on oil and natural gas acquisition, production, exploration and development in the Delaware Basin. The company's properties and drilling activities are focused in the Delaware Basin in Pecos, Reeves, Ward and Winkler Counties, TX.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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