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HK - Halcon Resources: New Management Will Have A Decent Situation To Work With
Halcon Resources
Halcon Resources (HK) announced that CEO Floyd Wilson and other members of its senior management team have resigned to pursue other interests/opportunities. This comes after pressure to cut G&A expenses and sell the company, along with some concern that the company can't grow production (without incurring more debt) to the level it needs to support its fixed costs.
The resignations have created some uncertainty for Halcon as it now needs to search for a permanent CEO and is operating via a management committee at the moment. Whoever takes over appears to have a