Every 8-K that Hallador Energy Company (HNRG) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow HNRG and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full HNRG filings page.
Hallador Energy Company entered into a Third Amendment to its Credit Agreement with Texas Capital Bank, as administrative agent, and the participating lenders. The amendment changes the definition of EBITDA to allow Hallador to add back to EBITDA certain payments received by the company or its restricted subsidiaries under power purchase agreement exclusivity agreements during the fiscal quarter ended June 30, 2026, in an aggregate amount not to exceed $10,000,000. This modification affects how EBITDA is calculated for purposes of the existing credit facility’s terms and covenants.
Hallador Energy Company reported second quarter 2026 sales and operating revenue of $101.5 million, roughly flat with $102.8 million a year earlier, but results swung to a net loss of $15.2 million from net income of $8.2 million. Operating cash flow for the quarter was $(23.9) million, compared with $11.4 million in Q2 2025, and Adjusted EBITDA turned negative at $(2.9) million versus $3.4 million.
Management attributed weaker performance to scheduled maintenance at the Merom Generating Station and higher purchased power costs during periods of elevated market prices. For the six months ended June 30, 2026, total revenue was $206.0 million with a net loss of $24.6 million, versus $220.5 million revenue and $18.2 million net income in the prior-year period.
The company highlighted progress on its Merom natural gas project, now named Turtle Creek Gas, expecting total project cost to be below $800 million (about $1,700/kW) and targeting commercial operation in the second half of 2028. Forward contracted sales remain a key pillar, with segment-level contracted revenue of about $2.37 billion through 2040. Cash and cash equivalents increased to $29.0 million as of June 30, 2026, up from $10.1 million at year-end 2025, supported in part by a public equity offering.
Hallador Energy Company entered into a Second Amendment to its Credit Agreement with Texas Capital Bank and other lenders. The change revises financial maintenance covenants to align with an improved risk profile and to support obligations under an Asset Purchase Agreement with Energy World Corporation Ltd.
After the amendment, the total leverage ratio may not exceed 4.25 to 1.0 as of the last day of each quarter ending on or after June 30, 2026. The senior secured leverage ratio may not exceed 3.00 to 1.0 as of June 30, 2026 and September 30, 2026, 2.75 to 1.0 as of December 31, 2026 and March 31, 2027, and 2.50 to 1.0 as of each quarter end on or after June 30, 2027. All other terms of the credit facility remain unchanged.
Hallador Energy Company appointed Matthew Bradford White as Chief Legal Officer effective June 8, 2026. He brings extensive legal and energy-industry experience from senior roles at TransMontaigne Partners, Oracle America, and prior law-firm and corporate positions, and holds law, MBA, and engineering degrees.
Under the amended 2026 Executive Officer Incentive Plan, Mr. White will receive a $500,000 annual base salary, a prorated 2026 target bonus of $175,000 with a maximum of $350,000, and a one-time $200,000 RSU grant vesting over three years. He will also receive a $100,000 RSU signing bonus that vests immediately, subject to return if he leaves within one year under specified conditions, plus a defined retention bonus and benefits upon a Change of Control. The company will enter into standard severance and indemnity agreements with him.
Hallador Energy Company reports that its subsidiary, Hallador Power Company, LLC, was selected by the U.S. Department of Energy’s Hydrocarbons and Geothermal Energy Office to begin award negotiations for up to $27.2 million in potential federal funding. The money would help modernize the Merom Generating Station in Indiana, in a project with an estimated total cost of about $56.9 million.
The planned work focuses on upgrading Merom’s water management systems to prepare for future Effluent Limitation Guidelines and support reliable, flexible power delivery within MISO zone 6. Hallador states it does not expect any DOE funding to provide a material benefit to its 2026 financial results and notes there is no guarantee that funding will ultimately be awarded or received.
Hallador Energy Company reported that its subsidiary Sunrise Coal received an imminent danger order from the Mine Safety and Health Administration under Section 107(a) of the Mine Act at the Oaktown Fuels Mine No. 1 in Indiana. The order followed an MSHA allegation that an employee of an independent trucking company was seen on an elevated truck bed without fall protection. The employee was ordered to climb down immediately, no injuries occurred, no Sunrise Coal employees were affected, and mine production was not interrupted. Sunrise Coal disputes the order, stating the condition arose solely from an independent contractor’s actions, and it reserves the right to contest the order and any related citation or proposed assessment.
Hallador Energy Company entered into an Asset Purchase Agreement with Energy World Corporation to buy approximately 460 MW of Siemens gas turbines, generators, a steam turbine, and related equipment for $350 million. Hallador expects to spend an additional $100 million on transportation, refurbishment, insurance, and logistics, bringing the delivered equipment cost to $450 million, which represents more than half of the estimated total cost of its proposed Merom simple-cycle natural gas project.
The turbines have never been fired and are priced at about $760/kW. The project is advancing through MISO’s Expedited Resource Addition Study process, with potential revenue and cash flow from the facility targeted between late 2028 and mid-2029 if it proceeds. As of March 31, 2026, Hallador reported no outstanding bank debt, a $120 million credit facility, a 12-year capacity agreement valued at over $1 billion, and a contracted sales book of more than $2.1 billion, which the company cites as supporting its ability to finance the project.
Hallador Energy Company reported results of its 2026 Annual Meeting of Shareholders held in Lone Tree, Colorado. A total of 37,538,341 shares were present in person or by proxy, representing 79.64% of outstanding shares eligible to vote.
Shareholders elected seven directors, including Brent K. Bilsland, Daniel Hudson, David J. Lubar, Barbara Ann Sugg and others, to serve until the 2027 Annual Meeting. They also approved, on a non-binding advisory basis, the compensation of the company’s named executive officers.
In addition, shareholders ratified the appointment of Grant Thornton LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, confirming the company’s external auditor for the upcoming year.
Hallador Energy Company created a new standing Risk Committee of its Board of Directors, effective May 1, 2026. Director Daniel Hudson was appointed as Chair of this committee.
As Chair, Mr. Hudson will receive an additional annual cash retainer of $25,000, on top of the standard $200,000 annual Board retainer for non-employee directors. The Risk Committee will help the Board oversee the company’s enterprise risk management framework, including strategic, operational, financial, market, and cybersecurity risks, and is intended to strengthen governance in support of long-term strategic objectives and potential financing activities.
Hallador Energy Company reported a weak first quarter but announced a major long-term contract. For Q1 2026, total sales and operating revenues were $101.8 million, down from $117.7 million in Q1 2025, and the company posted a net loss of $9.3 million versus prior-year net income of $10.0 million. Operating cash flow was $20.5 million, and Adjusted EBITDA was $5.5 million.
The company signed a new 12-year capacity-only agreement with a utility subsidiary covering planning years 2028–2040, priced at more than 2x historical capacity pricing and expected to generate over $1 billion of contracted revenue. Together with a previously announced three-year deal, capacity-only sales total about $1.1 billion, nearly doubling Hallador’s forward sales book. As of March 31, 2026, total contracted revenue across power and coal for 2026–2029 was about $1.24 billion, and bank debt, net was reduced to zero while cash and cash equivalents increased to $36.8 million.
Hallador Energy Company adopted a new 2026 executive officer compensation plan covering April 1, 2026 to March 31, 2027, replacing its prior program. The Board raised annual base salaries, including CEO Brent Bilsland from $675,000 to $800,000, and increased pay for the CFO and COO.
The plan sets 2026 bonus targets of $500,000 for the CEO, $200,000 for the CFO, and $300,000 for the COO, tied mainly to safety metrics and Adjusted EBITDA with a target of $68.0M. Payouts scale from threshold to maximum based on performance.
The Board also granted one-time RSU awards valued at about $1.2M, $275,000, and $400,000 for the CEO, CFO, and COO, using a $17.19 10-day VWAP, vesting over three years and fully vesting on a change in control. New severance and change-in-control retention arrangements provide salary- and bonus-based cash payments and up to 24 months of healthcare coverage upon qualifying terminations or a sale.
Hallador Energy Company reported a mine safety event involving its subsidiary Sunrise Coal, LLC. On March 25, 2026, federal mine regulators issued an imminent danger order at the Oaktown Fuels Mine No. 1 in Knox County, Indiana, after alleging an electrician worked on equipment that was not de-energized.
The order required work to stop until the equipment was de-energized, which mine personnel did immediately. No injuries occurred and production at the mine was not interrupted. Hallador Energy states it disagrees that the situation constituted an imminent danger under the Mine Act and plans to contest the Section 107(a) order.
Hallador Energy Company reported a strong turnaround for 2025, with total sales and operating revenues rising 16% year over year to $469.5 million and net income improving to $41.9 million from a prior-year loss of $226.1 million. Operating cash flow increased 23% to $81.1 million, while Adjusted EBITDA nearly tripled to $56.0 million, reflecting better profitability after prior asset impairments.
The company advanced its strategy as an independent power producer, with MISO accepting its ERAS application for a proposed 515 MW natural gas generator at the Merom site, backed by an approximately $14 million deposit. If successfully executed, management states this expansion would represent a nearly 50% increase in power generation capabilities, targeting completion by the third quarter of 2029. Hallador also highlighted a sizable contracted revenue position, including total consolidated contracted revenue of $866.94 million across 2026–2029.
Hallador Energy Company entered into a new $120 million senior secured Credit Agreement on March 5, 2026, providing a $75 million revolving credit facility and a $45 million delayed draw term loan facility maturing on March 5, 2029. The revolver includes a $25 million letter-of-credit subfacility and a $10 million swingline subfacility, plus an accordion feature for up to $25 million of additional commitments.
Borrowings accrue interest at either a Base Rate or Term SOFR plus margins that vary with Hallador’s total leverage ratio, and the company pays a 0.50% fee on unused revolver commitments. The facilities include leverage, liquidity and coverage covenants and are secured by substantially all assets of Hallador and certain subsidiaries. Hallador is using the new facilities to refinance its prior PNC Bank credit agreement and to support working capital, general corporate purposes and potential strategic growth initiatives, while extending its debt maturity profile and enhancing liquidity.
Hallador Energy Company reported leadership changes focused on its power and coal operations. The company appointed industry veteran Daniel Hudson to its Board of Directors effective March 6, 2026, expanding the Board to seven members, six of whom are independent under Nasdaq standards.
Effective the same date, Heath Lovell was promoted to Chief Operating Officer while continuing as President of Hallador Power Company, LLC and Sunrise Coal, LLC. The company plans to finalize his compensation arrangements later. Barbara Ann Sugg was also added to the Audit and Compensation Committees. These changes were summarized in a press release attached as Exhibit 99.1.
Hallador Energy Company reported that it has terminated its at-the-market equity program with B. Riley Securities, which had allowed sales of up to $100,000,000 of common stock. The termination is effective January 18, 2026 and does not trigger any penalties, meaning the company will no longer sell shares through that facility.
The company also entered into an underwriting agreement with Texas Capital Securities for an underwritten public offering of 2,777,778 shares of common stock, with a 30-day option for underwriters to buy up to 416,666 additional shares. The underwriters exercised this option in full, and the offering closed on January 15, 2026. Hallador Energy received net proceeds of approximately $53.6 million from the stock sale, after underwriting discounts, commissions and other offering expenses.
Hallador Energy Company furnished a Form 8-K to announce it issued a press release with third quarter 2025 financial and operating results. The press release is included as Exhibit 99.1 and incorporated by reference in the 8-K.
The company states the information furnished under Item 2.02, including Exhibit 99.1, is not deemed “filed” under the Exchange Act and will not be incorporated by reference into other filings unless specifically referenced.
On August 11, 2025, Hallador Energy Company (Nasdaq: HNRG) furnished a Current Report on Form 8-K announcing that it issued a press release reporting its second quarter 2025 financial and operating results. The press release is attached to the filing as Exhibit 99.1 and the filing identifies the company’s principal executive office in Terre Haute, Indiana.
The Form 8-K states that the information furnished, including Exhibit 99.1, is not deemed to be "filed" under Section 18 of the Exchange Act and is not incorporated by reference into other filings unless expressly incorporated. The report was signed by Todd E. Telesz, CFO. No financial figures or operating metrics are included in the Form 8-K text provided here; the detailed results are in the attached press release.