Battalion Oil Corporation, an independent energy company, engages in the acquisition, production, exploration, and development of onshore oil and natural gas assets in the United States. As of December 31, 2020, the company held interests in 41,676 net acres in the Delaware Basin located in the counties of Pecos, Reeves, Ward, and Winkler, Texas. It also had estimated proved reserves of approximately 63.34 million barrels of oil equivalent comprising 38.2 million barrels of crude oil, 12.1 million barrels of natural gas liquids, and 78.5 billion cubic feet of natural gas. The company was formerly known as Halcón Resources Corporation and changed its name to Battalion Oil Corporation in January 2020. Battalion Oil Corporation was incorporated in 2004 and is headquartered in Houston, Texas.
IPO Year:
Exchange: AMEX
Website: battalionoil.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/4/2023 | $28.00 | Buy → Neutral | ROTH MKM |
| 8/29/2022 | $28.00 | Buy | ROTH Capital |
ROTH MKM downgraded Battalion Oil Corp. from Buy to Neutral and set a new price target of $28.00
ROTH Capital initiated coverage of Battalion Oil Corp. with a rating of Buy and set a new price target of $28.00
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HOUSTON, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company")) today announced financial and operating results for the third quarter of 2024. Key Highlights AGI facility online and treated 1.7 Bcf for the third quarter 2024Vermejo (a Monument Draw two-well pad) has been completed and is flowing backNext Monument Draw pad wells scheduled to spud prior to year-endGenerated third quarter 2024 sales volumes of 12,076 Boe/dAmended the previously announced Merger Agreement with Fury reducing the purchase price to $7.00 per share and requiring all of the existing preferred equity holders to roll over 100% of their preferred equity Management Com
Houston, Texas, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL) ("Battalion" or the "Company") announced today that it has entered into an amendment to the previously disclosed Agreement and Plan of Merger (as amended, the "Merger Agreement") with Fury Resources, Inc. ("Buyer" or "Parent"), pursuant to which Parent has agreed to acquire all of the outstanding shares of Common Stock of the Company (the "Common Stock") for $7.00 per share in cash, without interest (the "Merger Consideration"). The holders of all of the outstanding shares of the Preferred Stock of the Company, Luminus Management, LLC ("Luminus"), Gen IV Investment Opportunities, LLC, and funds and acc
HOUSTON, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company"))) 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 2024On 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 day (approximately 13,500 Boe/d) net productionDrilled and brought two additional wells on production in Monument Draw in the second quarter 2024 with the next two-well pad to be co
HOUSTON, May 15, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company"))) 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 throughputDrilled and completed two wells in Monument Draw in Q1 2024Generated first quarter 2024 sales volumes of 12,989 barrels of oil equivalent per day ("Boe/d")Executed a $20.0 million preferred equity raise in March 2024 and an additional $20.0 million preferred equity raise in May 2024 to support drilling program and debt reductionContinuing strategic alternatives initiative and are workin
HOUSTON, March 29, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company"))) 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 inventoryBrought previously announced AGI project online in Q1 2024 treating over 20 MMcf/dRecommenced drilling operations in Monument Draw in Q4 2023 to execute a six well program Completed two wells in Q4 2023, brought online in Q1 2024 under budget with strong initial resultsDrilled two additional wells in Q1 2024, curren
Houston, Texas, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL) ("Battalion" or the "Company") 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 Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States. BATTALION OIL CORPORATIO
Houston, Texas, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL, "Battalion" or the "Company") today announced certain financial and operating updates. Key Highlights Acid gas injection ("AGI") well is projected to be injecting by end of the first quarter 2024Recent 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 (71% oil) with production still incliningApproximately $61MM cash on hand to fund operationsAdditional equity commitment of $20MM uncalled at current timeRecently announced merger with Fury anticipated to close as outlined in the Merger Agreement
Houston, Texas, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company"))) 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 with the NYSE American's continued listing standards once the 2023 annual meeting of stockholder is held, which meeting has been scheduled for February 7, 2024, at
Houston, Texas, Dec. 15, 2023 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL) ("Battalion" or the "Company") announced today that it had entered into an Agreement and Plan of Merger (the "Merger Agreement") with Fury Resources, Inc. ("Buyer" or "Parent"), pursuant to which Parent will acquire all of the outstanding shares of Common Stock of the Company (the "Common Stock"), for $9.80 per share in cash (the "Merger Consideration"), 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 Oaktree Capital Management, L.P., or their respective affiliates (collectively,
HOUSTON, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company"))) 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 ("Boe/d")Continued robust production results from our most recent completed wellsRecommenced drilling operations in Monument DrawExecuted a $38.0 million preferred equity raise in September 2023 and obtained commitments for an additional $55.0 million preferred equity in November 2023 to support incremental activity plansContinued to explore strategic alternatives Management Comme
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HOUSTON, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company")) today announced financial and operating results for the third quarter of 2024. Key Highlights AGI facility online and treated 1.7 Bcf for the third quarter 2024Vermejo (a Monument Draw two-well pad) has been completed and is flowing backNext Monument Draw pad wells scheduled to spud prior to year-endGenerated third quarter 2024 sales volumes of 12,076 Boe/dAmended the previously announced Merger Agreement with Fury reducing the purchase price to $7.00 per share and requiring all of the existing preferred equity holders to roll over 100% of their preferred equity Management Com
HOUSTON, March 29, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company"))) 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 inventoryBrought previously announced AGI project online in Q1 2024 treating over 20 MMcf/dRecommenced drilling operations in Monument Draw in Q4 2023 to execute a six well program Completed two wells in Q4 2023, brought online in Q1 2024 under budget with strong initial resultsDrilled two additional wells in Q1 2024, curren
HOUSTON, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company"))) 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 ("Boe/d")Continued robust production results from our most recent completed wellsRecommenced drilling operations in Monument DrawExecuted a $38.0 million preferred equity raise in September 2023 and obtained commitments for an additional $55.0 million preferred equity in November 2023 to support incremental activity plansContinued to explore strategic alternatives Management Comme
HOUSTON, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company"))) 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 2022Approximately 34% increase in Adjusted EBITDA over second quarter 2022Improved realized pricing – ~11% increase in realized crude oil prices despite ~15% decline in average crude oil prices over second quarter 2022Most recent three well pad began flowing back during second week of October, raising total to 8 wells put online in 2022Completed Third Bone Spring
HOUSTON, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company"))) today announced financial and operating results for the second quarter 2022. Key Highlights First five wells of 2022 capital program put online during quarter and continued one-rig program with spudding of next three well padDisciplined capital program mitigating inflation and supply chain disruptionOutstanding performance in drilling and completion operations – fewer drilling days and higher pump efficiency than planConstruction underway on recently announced strategic acid gas treating facilityAnticipate meaningful production and EBITDA growth in second half of 2022 Managem
HOUSTON, May 09, 2022 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company"))) today announced financial and operating results for the first quarter 2022. Key Highlights Meeting or exceeding performance targets on drilling and completion activities year to dateMitigating cost increases and material shortages through increased operational and capital efficienciesContinued robust commodity pricing offering opportunity to layer on new hedges at attractive pricesAmple liquidity to execute on 2022 capital programRecently began flowing back on first wells of 2022 capital program Management Comments Richard Litt
HOUSTON, TX, May 05, 2022 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company"))) today announced plans to release its first quarter 2022 financial results on Monday, May 9, 2022 after trading closes on the New York Stock Exchange. The Company has also scheduled a conference call for Tuesday, May 10, 2022, at 10:00 a.m. Central Time to discuss the release. To access the live conference call, local participants may dial +1 (646) 828-8193. All other participants may dial (888) 220-8474 for toll free. The confirmation code for the live conference call is 2126195. The live conference call will also be available through the Company's website at www.batta
HOUSTON, March 07, 2022 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company"))) today announced financial and operating results for the fourth quarter and full year 2021. Key Highlights Reported average daily production of 17,283 Boepd and 16,241 Boepd in fourth quarter and full year 2021, respectivelyProved reserves of 95.9 MMBoe, a 51% increase over year-end 2020 reservesCompleted strategic refinancing in November 2021; enhanced liquidity profile allows for significant increase in activityKicked off 2022 capital program in December 2021 with 3 well-pad at Monument Draw; expect to keep one rig running through 2022Maintaining flat production in 2022
Houston, Texas, Feb. 28, 2022 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company"))) today provided an operational update, released its preliminary 2022 capital plan and production guidance, and provided details on the timing of its fourth quarter 2021 earnings release and conference call. Key Highlights Recently closed strategic refinancing provides the capital and financial flexibility to execute on a multi-year drilling programThe Company picked up a rig in December 2021 and intends to keep a rig running throughout the 2022 fiscal yearBattalion plans to spud 12 wells in 2022 with total estimated capital e
HOUSTON, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE:BATL, "Battalion" or the "Company"))) today announced results of operations for the third quarter 2021 and provided an update on 2021 guidance for capital expenditures. Highlights Reported average daily production of 17,728 Boepd during third quarter 2021, a 14% increase over second quarter 2021, due largely to facility upgrades at Monument Draw and reduced well downtimeAdjusted EBITDA of $23.0 million, a 63% increase over second quarter 2021Strong organic deleveraging, reducing net debt by >$10 million during the quarterIncreasing 2021 guidance for total capital expenditures; anticipate spudding first well of 202
Houston, April 03, 2023 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSEA: BATL, "Battalion" or the "Company") 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 to the Company and the Board. His executive and board experience will allow us to thrive in the next phase of Battalion. I would also like to thank Rich for his contribution
HOUSTON, Jan. 20, 2023 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSEA: BATL, "Battalion" or the "Company") 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 to Battalion a strong public accounting experience along with hands on experience in M&A, forecasting and capital management. I am pleased to welcome Kristen to the tea
Battalion Oil (AMEX:BATL) reported quarterly losses of $(1.01) per share. This is a 531.25 percent decrease over losses of $(0.16) per share from the same period last year. The company reported $47.24 million in sales this quarter. This is a 38.49 percent decrease over sales of $76.80 million the same period last year.
Acid gas injection ("AGI") well is projected to be injecting by end of the first quarter 2024Recent 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 (71% oil) with production still incliningApproximately $61MM cash on hand to fund operationsAdditional equity commitment of $20MM uncalled at current timeRecently announced merger with Fury anticipated to close as outlined in the Merger Agreement
As of Jan. 18, 2024, four stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro. Here’s the latest list of major overbought players in this sector. Gulf Island Fabrication, Inc. (NASDAQ:GIFI) On Dec. 4, Gulf Island board approved share repurchase pro
The Company expects to regain compliance with the NYSE American's continued listing standards once the 2023 annual meeting of stockholder is held, which meeting has been scheduled for February 7, 2024.
As of Jan. 4, 2024, two stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro. Here’s the latest list of major overbought players in this sector. Battalion Oil Corporation (NYSE:BATL) On Dec. 15, Battalion Oil announced it will be acquired by Fury Re
Shares of Quanex Building Products Corporation (NYSE:NX) moved lower during Friday’s session after the company reported fourth-quarter financial results. Quanex Building Products shares fell 10.7% to $30.95 on Friday. Here are some other stocks moving in today's mid-day session. Gainers Getaround, Inc. (NYSE:GETR) shares climbed 128.3% to $0.3767 after the company reported a year-over-year increase in third-quarter financial results. Battalion Oil Corporation (NYSE:BATL) gained 81.4% to $9.57 after the company announced it will be acquired by Fury Resources. Bruush Oral Care Inc. (NASDAQ:BRSH) shares climbed 61.7% to $0.2749 after the company and Arrive Technology announced an agre
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