Business Context and Reporting Period
This Form 8-K is filed by Halcón Resources Corporation (not Battalion Oil Corp as indicated in metadata) on February 28, 2017. The filing serves to announce the issuance of a press release (Exhibit 99.1) detailing the Company's financial results for the fourth quarter and full year ended December 31, 2016.
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 containing these figures, including both GAAP and non-GAAP measures (such as adjusted net income, EBITDA, and cash flow from operations), but the actual data points are not included in the provided text.
Material Changes
The filing does not contain specific data to compare current results against prior periods. It notes that the referenced press release includes reconciliations between GAAP and non-GAAP measures to facilitate comparison with prior periods, but the specific material changes are not detailed in this document.
Guidance, Outlook, and Risks
- Non-GAAP Measures: Management discloses adjusted financial measures (excluding selected items) to help users understand the impact of specific events on reported results.
- Limitations: The filing explicitly states that these non-GAAP measures are not substitutes for GAAP measures, may not be comparable to other companies' metrics, and should not be considered an alternative to net income or cash flow from operations.
- Outlook: No specific forward-looking guidance or outlook is provided in the text of this 8-K.
Investor Verification Checklist
- Verify the actual financial figures (revenue, net income, EBITDA) in Exhibit 99.1 (the press release), as they are not present in the 8-K text.
- Review the reconciliation tables in the press release to understand the adjustments made to GAAP figures for non-GAAP reporting.
- Confirm the company name is Halcón Resources Corporation, noting the discrepancy with the "Battalion Oil Corp" metadata.
- Assess the specific "selected items" excluded from non-GAAP calculations to evaluate the quality of earnings.