<SEC-DOCUMENT>0001193125-25-270298.txt : 20251106
<SEC-HEADER>0001193125-25-270298.hdr.sgml : 20251106
<ACCEPTANCE-DATETIME>20251106185041
ACCESSION NUMBER:		0001193125-25-270298
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251106
DATE AS OF CHANGE:		20251106

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HALLADOR ENERGY CO
		CENTRAL INDEX KEY:			0000788965
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				841014610
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-37955
		FILM NUMBER:		251459973

	BUSINESS ADDRESS:	
		STREET 1:		1183 EAST CANVASBACK DRIVE
		CITY:			TERRE HAUTE
		STATE:			IN
		ZIP:			47802
		BUSINESS PHONE:		303-839-5504

	MAIL ADDRESS:	
		STREET 1:		1183 EAST CANVASBACK DRIVE
		CITY:			TERRE HAUTE
		STATE:			IN
		ZIP:			47802

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HALLADOR PETROLEUM CO
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KIMBARK OIL & GAS CO /CO/
		DATE OF NAME CHANGE:	19900102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KIMBARK INC
		DATE OF NAME CHANGE:	19860624

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Becker Mark D.
		CENTRAL INDEX KEY:			0002095680
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	MAIL ADDRESS:	
		STREET 1:		4234 E. INDIAN SCHOOL ROAD
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85018
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0002095680</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>10/31/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000788965</issuerCik>
        <issuerName>Hallador Energy Co</issuerName>
        <issuerCusip>40609P105</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <street1 xmlns="http://www.sec.gov/edgar/common">1183 East Canvasback Drive</street1>
          <city xmlns="http://www.sec.gov/edgar/common">Terra Haute</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">IN</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">47802</zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Mark D. Becker</reportingPersonName>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>2287743</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>2287743</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2287743</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>5.3</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
      <comments>
(1) Rows 5, 7 and 9: Consists of (i) 227,395 shares of Common Stock, par value $0.01 per share ("Common Stock"), of Hallador Energy Co (the "Company") held of record by The MDB Irrevocable Trust Dated March 24, 2023, for which Mr. Becker has sole voting and dispositive power, (ii) 1,343,348 shares of Common Stock held of record by The Mark D. Becker Living Trust Dated March 29, 2021, for which Mr. Becker has sole voting and dispositive power, and (iii) 717,000 shares of Common Stock that Mr. Becker has the right to acquire through the exercise and settlement of call options held by Mr. Becker.
(2) Row 11: Percentage ownership is based on 43,010,230 shares of Common Stock outstanding as of August 7, 2025, as reported in the Company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 11, 2025.</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Hallador Energy Co</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>1183 East Canvasback Drive, Terre Haute, Indiana 47802</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Mark D. Becker</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>4234 E. Indian School Road, Phoenix, Arizona 85018</principalBusinessOfficeOrResidenceAddress>
        <citizenship>The Reporting Person is a citizen of the United States of America.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>See Row 9 of cover page.</amountBeneficiallyOwned>
        <classPercent>See Row 11 of cover page.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>See Row 5 of cover page.</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>See Row 6 of cover page.</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>See Row 7 of cover page.</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>See Row 8 of cover page.</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Mark D. Becker</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Mark D. Becker</signature>
        <title>Mark D. Becker</title>
        <date>11/06/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
