Business Context and Reporting Period
This Form 8-K Current Report was filed by Halcón Resources Corporation on February 25, 2015. The report discloses the entry into a material definitive agreement regarding the company's debt facilities. Note: The request metadata lists "BATTALION OIL CORP," but the filing text explicitly identifies the registrant as Halcón Resources Corporation.
Key Financial Metrics
The filing does not provide specific values for revenue, profit, cash flow, margins, total debt, or liquidity positions. The only financial metric disclosed is a covenant threshold modification:
- Interest Coverage Ratio: The minimum requirement is modified to 2.0 to 1.0 for any fiscal quarter ending on or before March 31, 2016.
Material Changes
On February 25, 2015, the Company entered into the Ninth Amendment to its Senior Revolving Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and other lenders. The primary change is the modification of the interest coverage test to provide the Company with additional flexibility under the Credit Facility.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or specific risk factors beyond the context of the credit agreement amendment. The amendment itself addresses the risk of covenant compliance by adjusting the interest coverage ratio threshold.
Investor Verification Checklist
- Verify the full text of the Ninth Amendment to the Senior Revolving Credit Agreement (Exhibit 10.1) for other potential covenant changes not summarized in the 8-K.
- Confirm the company's current Interest Coverage Ratio to assess compliance with the new 2.0 to 1.0 threshold.
- Review the company's most recent 10-Q or 10-K for actual revenue, profit, and liquidity figures, as they are absent from this filing.
- Monitor the fiscal quarter ending March 31, 2016, as the deadline for the modified covenant terms.