Battalion Oil Corp. today announced certain financial and operating updates. Key Highlights Acid gas injection well is projected to be injecting by end of the first quarter 2024 Recent two well pad was drilled and completed under budget and the wells have IP'd above type curve at 1,964 BOEPD and 1,711 BOEPD respectively with production still inclining Approximately $61MM cash on hand to fund operations Additional equity [...]
Battalion Oil Corp. today announced that on January 5, 2024 it received official notice on behalf of the NYSE American LLC indicating that, because the Company did not hold an annual meeting of stockholders during its fiscal year ended December 31, 2023, the Company is not in compliance with its continued listing standards set forth in Section 704 of the NYSE American Company Guide. The Company expect to regain compliance [...]
Battalion Oil Corp. announced today that it had entered into an Agreement and Plan of Merger with Fury Resources, Inc. , pursuant to which Parent will acquire all of the outstanding shares of Common Stock of the Company , for $9.80 per share in cash , which represents a total transaction value of approximately $450 million. The Preferred Stock of the Company held by Luminus Management LLC and funds and accounts managed by [...]
Battalion Oil Corp. today announced financial and operating results for the third quarter of 2023. Key Highlights Generated third quarter 2023 sales volumes of 12,717 barrels of oil equivalent per day Continued robust production results from our most recent completed wells Recommenced drilling operations in Monument Draw Executed a $38.0 million preferred equity raise in September 2023 and obtained commitments for an [...]
Battalion Oil Corp. today announced financial and operating results for the second quarter of 2023. Key Highlights Generated second quarter 2023 sales volumes of 14,253 barrels of oil equivalent per day Continued robust production results from our most recent wells Generated net loss of $4.7 million and Adjusted EBITDA of $16.8 million in the second quarter of 2023 Management Comments The Company has continued to work [...]
Battalion Oil Corp. today announced financial and operating results for the first quarter of 2023. Key Highlights Substantial progress on acid gas treating facility as we ramp up gas delivery toward bringing the facility fully online Generated first quarter 2023 sales volumes of 16,200 barrels of oil equivalent per day Continued excellent results from our most recent wells Completed corporate initiative to reduce general [...]
Battalion Oil Corp. today announced the resignation of Richard Little who plans to pursue other opportunities and the appointment of Matt Steele as Chief Executive Officer of the Company effective immediately. Jonathan Barrett, Battalion's Chairman of the Board commented, "Matt brings to Battalion extensive E&P experience including capital allocation, operations and internal value creation. I am pleased to welcome Matt [...]
Battalion Oil Corp. today announced financial and operating results for the fourth quarter 2022. Key Highlights Generated full year 2022 sales volumes of 15,438 barrels of oil equivalent per day Year-end 2022 reserves of approximately 92.0 million barrels of oil equivalent with a standardized measure of discounted future net cash flows of approximately $1.5 billion Tenth well of 2022 capital program put online in January [...]
Battalion Oil Corp. today announced the appointment of Kristen McWatters as Executive Vice President, Chief Financial Officer and Treasurer of the Company effective January 26, 2023, replacing Kevin Andrews, who plans to pursue other opportunities. Mr. Andrews will continue with the Company in an advisory role through the end of the first quarter. Rich Little, Battalion's Chief Executive Officer commented, "Kristen brings [...]
Battalion Oil Corp. today announced financial and operating results for the third quarter 2022. Key Highlights New volumes from 2022 capital program driving production growth - ~8% increase in average daily production over second quarter 2022 Approximately 34% increase in Adjusted EBITDA over second quarter 2022 Improved realized pricing - ~11% increase in realized crude oil prices despite ~15% decline in average crude [...]
Lunch Keynote Presentations Feature BPX Energy, Vivek Ramaswamy with Strive Wealth Management and Petrie Partners Panels include discussions on Capital Allocation, Responsibly Sourced Gas, Private Capital, Carbon Capture, Renewable Natural Gas, ESG, Private Companies and Commodity Market Outlook EnerCom, Inc. announced today that the EnerCom Denver investment conference will feature management team presentations, breakout [...]
Lunch Keynote Presentations Feature BPX Energy, Vivek Ramaswamy with Strive Wealth Management and Petrie Partners Panels include discussions on Capital Allocation, Responsibly Sourced Gas, Private Capital, Carbon Capture, Renewable Natural Gas, ESG, Private Companies and Commodity Market Outlook EnerCom, Inc. announced today that lunch keynote presentations will feature BPX Energy, Vivek Ramaswamy with Strive Wealth [...]
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