One-Page Deal Sheet
Halcon Resources Sells TMS Property to Apollo Global
Apollo Global Management, Llc Battalion Oil Corp.
Announced Date
October 05,2016
Effective Date
September 30,2016
Close Date
September 30,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
212
Asset/Basin:
{"Tuscaloosa Marine Shale"}
TargetZones:
{"Tuscaloosa Marine
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Gulf Coast
Country
United States
State
Louisiana
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Require Private Equity Subscription
On September 30, 2016 Halcón Resources Corporation sold 100% of the common shares of HK TMS LLC to an affiliate of Apollo Global Management
HK TMS was previously a wholly-owned subsidiary of the Company and held all of the Company’s oil and gas properties in the Tuscaloosa Marine Shale in Louisiana and Mississippi.
The Company has also agreed to manage the operation of HK TMS’s oil and gas properties for a specified period of time for a monthly fee. The Company has no right to or interest in any future production, income or proved reserves associated with HK TMS’s assets.
$212.5 million of…
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