In March MDN reported Halcon Resources had hired a prominent law firm with a specialty in bankruptcies to assist the company to “chart a course” through the current downturn in gas and oil prices (see Halcon Resources Hires Bankruptcy Law Firm to Help “Chart Course”). Yesterday Halcon issued an update on their progress. According to the update, the company is “in discussions” with “certain stakeholders” to negotiate terms of a “potential transaction” to “materially reduce the Company’s indebtedness.” What does all of that coded language mean? You would think the company whose CEO is famous for his blunt language would just spit it out (see Halcon CEO Says No More S***** Wells in Northern OH Utica). We’re left to wonder…
