Halcón’s bankruptcy plan would eliminate $1.8 billion in debt

Halcón Resources Corp., which produces oil in Texas and North Dakota, said it plans to file for a prepackaged bankruptcy that would wipe out $1.8 billion in debt and help it survive the drop in crude oil prices, according to Reuters. The news service says the bankruptcy marks a setback for Halcón Chief Executive Floyd Wilson's long-running goal to build and then sell the company as he had done with the 2011 sale of Petrohawk to BHP Billiton for more than $12 billion. Halcón had been active in the Utica shale play in eastern Ohio and western Pennsylvania before suspending drilling operations in those areas in 2014. For more, read the full Reuters story.

National, Ohio, Pennsylvania