Business Context and Reporting Period
This Form 8-K is a current report filed by Halcón Resources Corporation (not Battalion Oil Corp) on August 1, 2018. The filing serves to announce the issuance of a press release regarding the Company's financial results for the second quarter of 2018.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It references a press release (Exhibit 99.1) containing these details, including both GAAP and non-GAAP measures such as EBITDA and adjusted cash flow from operations, but the figures themselves are not included in the provided text.
Material Changes
The filing does not detail specific material changes versus prior periods. It notes that management presents non-GAAP measures to enable users to understand the impact of selected items on reported results and to provide comparisons to prior periods, but the specific variances are not listed in this document.
Guidance, Outlook, and Risks
Management Commentary: Management states that non-GAAP measures (e.g., net income excluding selected items, EBITDA) are provided to help users understand the impact of specific items and to facilitate comparisons with prior periods.
Limitations: The filing explicitly warns that these non-GAAP measures are not defined by GAAP, should not be considered alternatives to GAAP net income or cash flow, and may not be comparable to similarly named measures used by other companies.
Outlook/Guidance: No specific forward-looking guidance or outlook is contained in the text of this filing.
Investor Verification Checklist
- Verify the specific Q2 2018 revenue, net income, and EBITDA figures in the referenced Exhibit 99.1 (Press Release).
- Review the reconciliation tables in the press release to understand the adjustments made to derive non-GAAP measures from GAAP results.
- Confirm the company name is Halcón Resources Corporation, as the metadata input "Battalion Oil Corp" appears to be incorrect based on the filing text.
- Check for any "selected items" excluded from non-GAAP calculations that may impact the assessment of core operational performance.