– USA, TX – Halcón Resources Corporation (NYSE:HK), today announced that the Company’s Board of Directors has appointed Carin Barth to the Board as a Class A director who is expected to stand for re-election at the Company’s 2020 annual meeting. With the addition of Ms. Barth, the Halcón Board has expanded from seven to eight directors, all of whom are independent.
In conjunction with today’s actions, the Company also announced that it has entered into a settlement agreement with Fir Tree Capital Management LP, which has economic exposure to approximately 7.2% of the common stock of Halcón. As part of the agreement, the Company has agreed to add an additional director to the Class A directors by July 2019.
“We expect our shareholders will benefit from this constructive outcome and look forward to the extensive experience and perspective that Carin brings to our Board,” said James Christmas, Halcón’s Chairman of the Board.
Evan Lederman, Managing Director and a Partner at Fir Tree, said “We are very pleased to have been able to work constructively with Halcón’s Board as they begin their effort to pursue strategic alternatives for the Company. We also fully support the Board’s ongoing initiatives to materially reduce corporate overhead, improve operations and focus on capital discipline. The appointment of two new independent directors to the Board, including Carin Barth, will help ensure value is maximized for all of Halcón’s shareholders.”
About Carin Barth
Carin Barth is co-founder and President of LB Capital Inc., a private equity investment firm established in 1988. She currently serves as a director of Enterprise Holdings LLC, the General Partner of Enterprise Products Partners L.P., Black Stone Minerals, L.P. and Group 1 Automotive, Inc., and is Chair of the Audit Committee for both BSM and GPI. Additionally, Ms. Barth serves as Chair of the Trustees for The Welch Foundation and a board member of the Ronald McDonald House of Houston. Ms. Barth has previously served on the following boards: Bill Barrett Corporation from 2012 – 2016; Western Refining, Inc. from 2006 – 2016, where she also Chaired the Audit Committee; Methodist Hospital Research Institute from 2007 – 2012; Encore Bancshares, Inc. from 2009 – 2012; and Amegy Bancorporation, Inc. from 2006 – 2009. She has previously served as Chairman of the Investment Advisory Committee for the Endowment at Texas Tech University from 2012 – 2018, a Commissioner of the Texas Department of Public Safety from 2008 – 2014, a director of the Texas Public Finance Authority from 2006 – 2008, and as a member of the Texas Tech University System Board of Regents from 1999 – 2005. Ms. Barth was appointed by President George W. Bush to serve as Chief Financial Officer of the U.S. Department of Housing and Urban Development from 2004 – 2005. She received a B.S. from the University of Alabama, summa cum laude, and an M.B.A. from Vanderbilt University’s Owen Graduate School of Management.
About Halcón Resources
Halcón Resources Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States.
For more information : http://www.halconresources.com
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