Battalion Oil Corp.

Battalion Oil Corp. 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 downtime Adjusted EBITDA of $23.0 million, a 63% increase over second quarter [...]

Battalion Oil Corp. today announced results of operations for the second quarter 2021. Highlights Completed and put online two new wells in Monument Draw during the quarter 2021 capital program largely complete - 6 wells put online at average D&C cost of ~$878 per well per foot despite increasing service costs Continued success in reducing workover expense despite rising service and material prices due to 33% YTD [...]

Battalion Oil Corp. today announced results of operations for the first quarter 2021. Highlights Completed four DUCs and spud two new wells in Monument Draw during the quarter Improved average completion costs from $575/lateral ft in 2020 down to $395/lateral ft in Q1 2021 Production from recent completions outperforming expectations On track to deliver on 2021 production guidance despite operational shut-ins due to [...]

Battalion Oil Corp. today announced results of operations for the fourth quarter and full year 2020. Highlights Battalion is well positioned to deliver single digit production growth while generating significant free cash flow in FY2021 Completed the sale of ~3,700 net acres in the Northern West Quito development area for $26.3 million in cash subject to customary post-closing adjustments. These assets accounted for less [...]

Battalion Oil Corp. is pleased to provide an update on its financial position. In December, the Company completed the previously disclosed sale of certain of its Northern West Quito Assets to Point Energy Partners Operating, LLC for cash proceeds of $26.3 million, subject to customary post-closing adjustments. The divested Northern West Quito Assets accounted for less than 5% of the Company's average daily net oil [...]

Battalion Oil Corp. today announced its third quarter 2020 results. Third Quarter Results Average daily net production for the quarter ended September 30, 2020 was 17,076 Boe per day, of which oil represented 56%. Total revenue for the third quarter was $39.8 million, of which 84% related to crude oil. Realized gains on derivative settlements totaled $5.3 million for the third quarter. Richard Little, the Company’s CEO [...]

Battalion Oil Corp. today announced the appointment of Kevin Andrews as Executive Vice President, Chief Financial Officer and Treasurer of the Company effective August 17, 2020, replacing Ragan Altizer, who plans to retire from the oil and gas industry. Rich Little, Battalion’s Chief Executive Officer commented, “Kevin brings to Battalion a substantial track record in M&A, which will serve us well as we continue to [...]

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 [...]