Halcón Resources (HK) Reports Q4 EPS of $0.41; Working with Lenders on Redetermination

Halcón Resources (NYSE: HK) reported Q4 EPS of $0.41, versus $0.25 reported last year. Revenue for the quarter came in at $116.12 million, versus $239.46 million reported last year.

Liquidity and Capital Spending

As of December 31, 2015 Halcón’s liquidity was approximately $789 million, which consisted of cash on hand plus undrawn capacity on the Company’s senior secured revolving credit facility with a $827 million borrowing base. The Company is currently working with its senior revolver lenders on its spring 2016 redetermination and expects the borrowing base to be revised to between $650 million and $700 million.

During the fourth quarter of 2015, the Company incurred capital costs of $58 million on drilling and completions, and less than $2 million on infrastructure, seismic and leasehold acquisitions. In addition, Halcón incurred $42 million for capitalized interest, G&A and other.

The Company incurred capital costs of $322 million on drilling and completions, $11 million on infrastructure/seismic and $12 million on leasehold acquisitions in 2015. In addition, Halcón incurred $142 million for capitalized interest, G&A and other.

For earnings history and earnings-related data on Halcón Resources (HK) click here.

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