SEC Filings
8-K | |
HRG GROUP, INC. filed this Form 8-K on 02/05/2016 | |
Entire Document |
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Our Energy Segment is comprised of long- lived, lower-decline rate and lower geologic risk conventional oil and gas assets 8 Energy Segment Delivered on deleveraging commitment —Compass term loan reduced by more than 50% during the quarter through proceeds from disposition of assets —Term loan balance at $160 million as of December 31st —HGI Funding guarantee reduced to $30 million Decrease in average sale prices of 39% and 40% in oil and natural gas liquids, respectively, as compared to the prior year Despite severe pressure on revenue, the business remains profitable on an Adjusted EBITDA basis —Operational oversight and strong cost controls —Production levels managed for maximum protection of value We remain focused on protecting & building HRG value and managing leverage and liquidity
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