Business Context and Reporting Period
This Form 8-K was filed by Halcón Resources Corporation on April 4, 2018. The report details the completion of a strategic asset acquisition by the Company's wholly owned subsidiary, Halcón Energy Properties, Inc. (HEPI).
Key Financial Metrics
The filing discloses a specific transaction value but does not provide comprehensive financial statements such as revenue, profit, cash flow, or debt levels for the reporting period.
- Acquisition Cost: $199.1 million in cash (subject to customary post-closing adjustments).
- Assets Acquired: 10,524 net acres and related assets in the Southern Delaware Basin (Ward County, Texas), known as the "West Quito Draw Properties."
- Counterparty: SWEPI LP, an affiliate of Shell Oil Company.
- Effective Date: February 1, 2018.
Material Changes
The primary material change is the expansion of the Company's asset base in the Southern Delaware Basin. The acquisition was executed pursuant to a Purchase and Sale Agreement dated February 6, 2018, and was formally completed on April 4, 2018.
Guidance, Outlook, and Risks
The filing text does not provide updated financial guidance, management commentary on future outlook, specific risk factors, or contingencies related to this transaction beyond the standard mention of customary post-closing adjustments.
Investor Verification Checklist
- Verify the final purchase price after customary post-closing adjustments are applied to the $199.1 million initial figure.
- Confirm the integration timeline and operational status of the West Quito Draw Properties as of the effective date (February 1, 2018).
- Review subsequent filings for the impact of this acquisition on the Company's consolidated balance sheet and liquidity position.
- Check for any additional disclosures regarding the terms of the agreement with SWEPI LP.