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, 2013. The filing serves to announce the Company's financial results for the second quarter of 2013. The report references a press release furnished as Exhibit 99.1 containing the detailed financial data.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It explicitly states that these figures, including both GAAP and non-GAAP measures (such as adjusted net income and cash flow from operations), are contained within the attached press release (Exhibit 99.1) rather than the body of this 8-K.
Material Changes
The document does not detail specific material changes versus prior periods. It notes that management presents non-GAAP financial measures to facilitate comparisons with prior periods, but the specific variances are not listed in this text.
Guidance, Outlook, and Risks
Non-GAAP Measures: The filing highlights the use of non-GAAP financial measures, including net income and earnings per share excluding selected items, and adjusted cash flow from operations. Management asserts these measures help users understand the impact of specific items on reported results.
Limitations: The Company cautions that these non-GAAP measures are not alternatives to GAAP measures, may not be comparable to those used by other companies, and are not "filed" for purposes of Section 18 of the Exchange Act.
Investor Verification Checklist
- Verify the actual Q2 2013 financial figures (Revenue, Net Income, EPS) in Exhibit 99.1 (the press release), as they are absent from this summary text.
- Review the reconciliation between GAAP and non-GAAP measures provided in the press release to understand the "selected items" excluded from adjusted earnings.
- Confirm the Company name is Halcón Resources Corporation, noting the discrepancy with the metadata label "BATTALION OIL CORP".
- Check for any specific operational updates or guidance details within the full text of the August 1, 2013 press release.