Halcon Resources ups senior revolver borrowing base to $800 million

By Tali Rackner

Norfolk, Va., March 27 - Halcon Resources Corp. entered into the seventh amendment to its senior revolving credit agreement on March 21, increasing the borrowing base to $800 million, according to an 8-K filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA is the administrative agent.

The increase is in connection with the company's annual spring redetermination and provides it with additional flexibility under the interest coverage test by modifying the minimum interest coverage ratio to be 2.0 to 1.0 for any fiscal quarter ending on or before Dec. 31, 2014.

Halcon is a Houston-based oil and gas acquisition, production, exploration and development company.

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