Jon Wright, executive vice president and COO, and David Elkouri, executive vice president and chief legal officer, will be leaving Halcón Resources Corp., according to a filing with the U.S. Securities and Exchange Commission on Oct. 1.
Wright left the company, which is emerging form bankruptcy on Sept. 30. Elkouri will depart either Dec. 31 or the end of the company’s bankruptcy, according to the SEC filing. Both executives will also get accelerated vesting of any equity awards they are due, according to their agreements.
The moves are the latest in a series of rapid changes in Halcón’s executive team. Most notable, CEO Floyd Wilson left the company in February and was replaced by Richard Little in June. He was replaced by Richard Little in June.
A shale pioneer, Wilson launched Falconer Oil & Gas and, in April, talked with Hart Energy about how wildcatting has changed.
Halcón has been under scrutiny by investors. The New York Stock Exchange sent it a delisting warning in May after its stock price fell below acceptable levels. It suspended trading in July as the company entered it second bankruptcy in three years.
Last week, the U.S. Bankruptcy Court for the Southern District of Texas in Houston confirmed Halcón's prepackaged plan of reorganization. The company said it expects to emerge from bankruptcy within the next few weeks.
Contango Oil & Gas Company said Sept. 27 it has entered into an asset purchase agreement to acquire the assets of White Star Petroleum LLC and certain affiliates as a part of the White Star Chapter 11 bankruptcy, 363 sales process.
Rio Oil and Gas II retained Detring Energy Advisors for the sale of a core Delaware Basin asset in Ward County, Texas, operated by Chevron in an offering closing Nov. 20.
Chevron retained EnergyNet for the sale of an operated position in the Jo-Mill and Spraberry fields within the Permian's Midland Basin through a sealed-bid offering closing Nov. 7.