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HK > SEC Filings for HK > Form 8-K on 9-May-2014All Recent SEC Filings

Show all filings for HALCON RESOURCES CORP



Other Events

Item 8.01 Other Events.

On May 9, 2014, certain wholly owned subsidiaries of Halcón Resources Corporation (the "Company") completed the divestiture of its Woodbine properties and related assets located in east Texas (the "East Texas Assets") to a privately-owned company for a total purchase price of $450 million before closing adjustments for (i) operating expenses, capital expenditures and revenues between the effective date and the closing date, (ii) title and environmental defects, and (iii) other purchase price adjustments customary in oil and gas purchase and sale agreements. The effective date of the transaction was April 1, 2014.

Upon the closing of the sale of the East Texas Assets, the borrowing base on the Company's revolving credit facility was reduced by $100 million, to $700 million.

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