Business Context and Reporting Period
This Form 8-K Current Report was filed by Halcón Resources Corporation (not Battalion Oil Corp) on October 2, 2014, regarding events occurring on September 30, 2014. The company is incorporated in Delaware and operates with principal executive offices in Houston, Texas.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, or liquidity figures. The primary financial metric disclosed relates to the company's credit facility:
- Borrowing Base Increase: The Borrowing Base under the Senior Revolving Credit Agreement was increased from $700 million to $1.05 billion.
- Administrative Agent: JPMorgan Chase Bank, N.A.
Material Changes
The material change reported is the execution of the Eighth Amendment to the Senior Revolving Credit Agreement. This amendment significantly expanded the company's available borrowing capacity by raising the Borrowing Base limit by $350 million.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future outlook, or specific discussion of risks and contingencies beyond the standard incorporation of the amendment text by reference. No unusual items were reported.
Investor Verification Checklist
- Verify the full terms of the Eighth Amendment to the Senior Revolving Credit Agreement (Exhibit 10.1) to understand covenants and conditions attached to the increased borrowing base.
- Confirm the company's current utilization of the credit facility to assess actual liquidity availability.
- Review subsequent filings to determine if the increased borrowing base was utilized for debt repayment, acquisitions, or operational expenses.