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June 9, 2014
07:37 EDTAPO, HKHalcon Resources signs agreement with affiliates of Apollo Global
Halcón (HK) announced the signing of a definitive agreement with credit funds and accounts managed by affiliates of Apollo Global Management, LLC (APO), which will invest up to $400M in the company's wholly owned subsidiary, HK TMS. Upon closing, HK TMS will hold all of Halcón's acreage in Mississippi and Louisiana that is prospective for the TMS formation. The Company holds 100% of the common shares of HK TMS and is the sole manager of HK TMS. Apollo will contribute $150M in cash consideration for 150,000 of HK TMS preferred shares, and under certain circumstances, may acquire up to an additional 250,000 preferred shares of HK TMS on the same terms. Holders of the HK TMS preferred shares will receive quarterly cash dividends of 8% per annum. In conjunction with the issuance of the preferred shares, HK TMS agreed to assign a 4.0% overriding royalty interest, subject to reduction to 2.0% under certain circumstances, in 75 net wells to be drilled and completed on its TMS acreage. The number of wells subject to the ORRI will increase to the extent that Apollo subscribes for additional preferred shares, with a maximum of 200 net wells subject to such ORRI if Apollo subscribes for the full additional 250,000 preferred shares.
News For HK;APO From The Last 14 Days
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March 5, 2015
07:08 EDTAPOHoulihan Lokey to hold a conference
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March 4, 2015
10:01 EDTHKOn The Fly: Analyst Downgrade Summary
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07:24 EDTHKHalcon Resources downgraded to Sell from Hold at KLR Group
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07:13 EDTAPOApollo Global management to meet with UBS
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March 3, 2015
08:39 EDTAPOApollo Global management to meet with UBS
Meeting to be held in Austin on March 3 hosted by UBS.
March 2, 2015
07:10 EDTAPOApollo Global management to meet with UBS
Meetings to be held in Houston/Kansas City on March 2 hosted by UBS.
February 25, 2015
16:26 EDTHKHalcon Resources hedge approximately 80% of expected production for 18-24 months
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16:25 EDTHKHalcon Resources sees Q1 production averaging 42–44 MBoe/d
16:24 EDTHKHalcon Resources reports Q4 EPS 5c, consensus 0c
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