Battalion Oil Corp. announced today that it has entered into an amendment to the previously disclosed Agreement and Plan of Merger with Fury Resources, Inc. , pursuant to which Parent has agreed to acquire all of the outstanding shares of Common Stock of the Company for $7.00 per share in cash, without interest . The holders of all of the outstanding shares of the Preferred Stock of the Company, Luminus Management, LLC [...]
Battalion Oil Corp. today announced financial and operating results for the second quarter of 2024. Key Highlights AGI facility online and treated 1.82 Bcf for the second quarter 2024 reducing operating expenses by $4.26/Boe compared to the first quarter 2024 On August 12, 2024, the AGI facility processed 26.6 MMcf/d which allowed the Company to return wells to production and realize approximately 7,500 Bbls of oil per [...]
Battalion Oil Corp. today announced financial and operating results for the first quarter of 2024. Key Highlights Previously announced AGI project online in Q1 2024 and achieved new record of 32 MMcf/d of throughput Drilled and completed two wells in Monument Draw in Q1 2024 Generated first quarter 2024 sales volumes of 12,989 barrels of oil equivalent per day Executed a $20.0 million preferred equity raise in March 2024 [...]
Battalion Oil Corp. today announced financial and operating results for the fourth quarter of 2023. Key Highlights Approximately 41,000 net acres, 91% HBP in three contiguous blocks across Ward, Winkler and Pecos Counties with substantial remaining location inventory Brought previously announced AGI project online in Q1 2024 treating over 20 MMcf/d Recommenced drilling operations in Monument Draw in Q4 2023 to execute a [...]
Battalion Oil Corp. today announced that on February 8, 2024, it received a notice letter on behalf of the NYSE American LLC acknowledging that, because the Company held its 2023 Annual Meeting on February 7, 2024, the Company is in compliance with its continued listing standards set forth in Section 704 of the Company Guide. About Battalion Battalion Oil Corp. is an independent energy company engaged in the acquisition [...]
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 [...]
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