US independent Halcon Resources has emerged from Chapter 11 bankruptcy protection, two months after it filed its initial restructuring plan.
The company has wiped more than $750 million in debt from its balance sheet and has cut more than $40 million of annual interest expenses, the company said.
Halcon now has $147 million available under its new senior secured revolving credit facility, including $3 million in cash, $1 million in outstanding letters of credit and $130 million of borrowing.
