Halcon (purchaser of GeoResources) is the new investment vehicle for Petrohawk's former boss. Petrohawk (founded by Wilson) was bought by BHP Billiton not too long ago:
"On February 8, 2012, Halcón Resources, LLC, a newly-formed company led by Floyd C. Wilson, former Chairman and Chief Executive Officer of Petrohawk Energy Corporation, recapitalized RAM Energy Resources, Inc. ("RAM") with a $550.0 million investment structured as the purchase of $275.0 million in new common stock, a $275.0 million five-year 8% convertible note and warrants for the purchase of an additional 36,666,666 shares of our common stock at an exercise price of $4.50 per share. At closing, Floyd C. Wilson was appointed as Chairman, President and Chief Executive Officer and RAM's name was changed to Halcón Resources Corporation. Additionally, on February 9, 2012, the Company's ticker symbol was changed to "HK". Halcón Resources' common stock currently trades on the NASDAQ Global Market.
Following the recapitalization, the Company's primary focus is to expand its leasehold position in areas it has determined are prospective for oil or liquids-rich resource plays. Halcón Resources has identified several target resource plays for potential leasehold acquisition, including the Utica Shale/Point Pleasant formations in Ohio and Pennsylvania, the Mississippian Lime formation in Northern Oklahoma and Southern Kansas, the Wilcox formation in Southwest Louisiana and the Woodbine/Eagle Ford formations in East Texas. In addition to ongoing lease acquisition efforts in its targeted resource plays, the Company has identified several new exploratory areas it believes are prospective for oil and liquids-rich hydrocarbons."
Wonder what implications this may have for EKA's PdA acreage, though small beer now to Halcon
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