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.
There was no immediate confirmation or comment from state oil firm NOC which operates with foreign partners the 315,000 barrels-per-day (bbl/d) field deep in Libya’s southern desert.
Uganda expects to begin producing oil in 2022, its energy minister Irene Muloni said on Feb. 13, indicating a slight delay from the east African country’s revised target of 2021.
Dana Gas will begin drilling this year in an area it said Feb. 12 could become Egypt’s next giant Mediterranean gas field, after seismic data pointed to reserves as large as 20 trillion cubic feet (Tcf).