Business Context and Reporting Period
This Form 8-K is a current report filed by Halcón Resources Corporation (not Battalion Oil Corp) on February 25, 2016. The filing serves to announce the issuance of a press release regarding the Company's financial results for the fourth quarter and full year ended December 31, 2015.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are contained within the press release furnished as Exhibit 99.1, which is referenced but not included in the body of this document.
The Company notes that the press release includes both GAAP measures and non-GAAP financial measures, such as adjusted net income, earnings per share, and cash flow from operations.
Material Changes
The filing does not detail specific material changes or comparative figures versus prior periods. It only confirms that the press release contains information reconciling GAAP and non-GAAP measures to facilitate comparison with prior periods.
Guidance, Outlook, and Risks
Management Commentary: Management states that non-GAAP measures are presented to help users understand the impact of selected items on reported results and to provide beneficial comparisons to prior periods.
Risks and 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.
Legal Status: Exhibit 99.1 is furnished but not deemed "filed" for purposes of Section 18 of the Exchange Act and will not be incorporated by reference into registration statements unless specifically identified.
Investor Verification Checklist
- Verify the specific Q4 and full-year 2015 financial figures in Exhibit 99.1 (the press release), as they are absent from this 8-K text.
- Review the reconciliation tables in the press release to understand the adjustments made to derive non-GAAP measures.
- Confirm the Company's name is Halcón Resources Corporation, noting the discrepancy with the metadata label "BATTALION OIL CORP".
- Check for any subsequent filings that may incorporate the press release by reference.