Battalion Oil Corp. today announced its second quarter 2020 results. Second Quarter Highlights Swift market reaction with no further capital required in 2020 to hold position; cut capital expenditures in Q2 2020 85% vs Q1 2020 Decreased Adjusted G&A to $2.08/Boe in 1H 2020 vs $5.47/Boe in 1H 2019 Generated Adjusted LTM EBITDA of $98 MM, representing >70% growth from Q2 2019 Maintained peer-leading net leverage of
Battalion Oil Corp. today announced its first quarter 2020 results. Average daily net production for the quarter ended March 31, 2020 was 18,791 barrels of oil equivalent per day , of which oil represented 10,297 barrels of oil per day , compared to 10,233 Bopd and 11,489 Bopd for the first and fourth quarters of 2019, respectively. The Company earned $47.4 million of total revenue for the first quarter of 2020, of which [...]
Battalion Oil Corp. today announced it has entered into an agreement with Bank of Montreal to amend its revolving credit facility to, among other things, reduce the Company’s borrowing base to $200 million effective April 30, 2020 and further reduce the borrowing base by $5 million each month from September 1, 2020 until November 1, 2020. Further details regarding this amendment are contained in a Current Report on Form [...]
Battalion Oil Corp. today reported results of operations for the three months and full year ended December 31, 2019. 2019 and Fourth Quarter Highlights Increased 2019 annual oil production by 6% over 2018 to 10,356 barrels of oil per day ; fourth quarter 2019 oil production of 11,489 Bopd Decreased fourth quarter 2019 operating costs to $18.28 per barrel of oil equivalent from $36.98 per Boe in same quarter prior year and [...]
Battalion Oil Corporation announced today that its application to list its common stock on the NYSE American has been approved and trading is anticipated to commence on February 20, 2020 under the ticker symbol “BATL." The Company also announced plans to release its fourth quarter 2019 financial results on Wednesday, March 25, 2020 after trading closes as well as host a conference call to discuss the release for Thursday [...]
Halcón Resources Corporation announced today that it has changed its company name to Battalion Oil Corp. The new name reflects the Company’s new team, new culture, and new strategy. Richard Little, the Company’s Chief Executive Officer commented, “I am excited to announce the new name Battalion Oil Corporation. The word ‘Battalion’ signifies an organized group of people pursuing a common objective and sharing a major [...]
Halcón Resources today announced its third quarter 2019 results. Average daily net production for the quarter ended September 30, 2019 was 16,489 Boe/d, of which 57% was oil. The Company earned $50.8 million of total revenue for the third quarter of 2019, of which 91% was from oil sales. Excluding the realized gain on derivative contracts of $1.9 million, the Company realized 95% of NYMEX WTI during the third quarter of [...]
Halcon Resources is pleased to announce that it has emerged from bankruptcy under Chapter 11 of the US Bankruptcy Code. By successfully completing its financial restructuring, the Company eliminated more than $750 million in debt and more than $40 million of annual interest expense, significantly enriching its financial condition. Effective at emergence, the Company has $147 million in availability under its new senior [...]
Halcón Resources announced that the United States Bankruptcy Court for the Southern District of Texas confirmed the Company’s prepackaged plan of reorganization under chapter 11 of the Bankruptcy Code and expects to emerge from bankruptcy within the next few weeks, subject to the satisfaction of all requisite closing conditions. The Plan eliminates more than $750 million in debt and more than $40 million of annual [...]
Halcón Resources today announced that Ragan T. Altizer has been appointed Executive Vice President, Chief Financial Officer and Treasurer of the Company effective August 14, 2019. Mr. Altizer will replace Quentin Hicks, who resigned as Executive Vice President, Chief Financial Officer and Treasurer, effective August 13, 2019. Mr. Altizer has more than 30 years of experience as a financial leader in a variety of [...]
Halcón Resources today announced its second quarter 2019 results and provided an update on operations and other matters. Net production for the three months ended June 30, 2019 averaged 18,055 barrels of oil equivalent per day (Boe/d). Production was comprised of 57% oil, 17% NGLs and 26% natural gas for the quarter. Halcón generated total revenues of $56.4 million for the second quarter of 2019. The Company reported a
Halcón Resources and its subsidiaries today announced that they filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas to pursue a prepackaged plan of reorganization in accordance with its previously announced comprehensive balance sheet restructuring efforts with the support of its major stakeholders, including members of an ad [...]
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