Halcón Resources Corp. (HK) provided an update on its balance sheet initiatives Feb. 8. No formal plan or strategy is in place at this time.

The company is proactively exploring several options to strengthen its balance sheet. Over the course of 2015, the net debt was reduced by about $1 billion through various balance sheet restructuring efforts that included debt-for-equity exchanges and discounted debt-for-debt exchanges.

The significant liquidity, valuable hedge book, quality assets and vested management team work hard on behalf of the company and shareholders, Houston-based Halcón said.