Business Context and Reporting Period
This Form 8-K is filed by Halcón Resources Corporation (not Battalion Oil Corp) on May 3, 2017. The report serves to announce the issuance of a press release regarding the Company's financial results for the first quarter of 2017.
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 management discloses non-GAAP measures including:
- Net income (loss) and earnings per share excluding selected items.
- EBITDA.
- Cash flow from operations.
- General and administrative and gathering and other expenses adjusted for selected items.
Material Changes
The filing text does not provide specific data regarding material changes versus the prior comparable period. It states that the referenced press release provides comparisons to similarly adjusted measurements of prior periods.
Guidance, Outlook, and Risks
The filing does not contain specific guidance, outlook, or risk factors. It includes a standard disclaimer that the non-GAAP measures presented in the accompanying press release are not measures of financial performance under GAAP and should not be considered an alternative to net income, earnings per share, or cash flow from operations as defined by GAAP. The Company notes these measures may not be comparable to those used by other companies.
Investor Verification Checklist
- Verify the specific Q1 2017 financial results (revenue, net income, EPS) in Exhibit 99.1 (Press Release dated May 3, 2017).
- Review the reconciliation tables in the press release to understand the differences between GAAP and non-GAAP measures.
- Confirm the Company's name is Halcón Resources Corporation, as the metadata reference to "Battalion Oil Corp" appears to be incorrect based on the filing content.
- Check for any "selected items" excluded from non-GAAP calculations to assess the quality of earnings.