Halcon Resources borrowing base cut to $700 million under amendment

By Caroline Salls

Pittsburgh, March 17 – Halcon Resources Corp. entered into a 13th amendment to its senior revolving credit agreement that reduces its borrowing base to $700 million, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The next borrowing base redetermination is scheduled for Sept. 1.

Also under the amendment, the credit facility will bear interest at specified margins over the base rate of 150 basis points to 250 bps for ABR-based loans or at specified margins over Libor of 250 bps to 350 bps for Eurodollar-based loans, with the rate to be based on utilization.

Based in Houston, Halcon is an independent energy company focused on onshore oil and natural gas exploration.

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