Sector News

Oil producer Halcon Resources files for bankruptcy

July 28, 2016
News

Halcon Resources Corp, which produces oil in Texas and North Dakota, filed for Chapter 11 bankruptcy protection on Wednesday.

The company listed assets and liabilities in the range of $1 billion to $10 billion, according to a filing with the U.S. Bankruptcy Court for the District of Delaware. bit.ly/2ad3wX1

In May, Halcon stated it intends to file for a prepackaged bankruptcy that would wipe out $1.8 billion in debt and help it survive the drop in crude prices.

By Sangameswaran S

Source: Reuters

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