Battalion Oil Corp Stock Price, News & Analysis

Battalion Oil (NYSE: BATL) has released its Q4 2024 financial results, reporting average daily production of 12,750 Boe/d (55% oil) and operating revenue of $49.7 million. The company posted a net loss of $30.9 million ($1.88 per share) for Q4 2024.

Key operational highlights include completion of term loan refinancing, full-year production of 12,667 Boe/d (51% oil), and year-end reserves of 64.9 MMBoe with standardized measure of $447.7 million. The AGI facility processed 20 MMcf/d average during Q4, treating 1.8 Bcf total.

The company's 2024 six-well campaign was completed under budget at less than $950 per lateral foot, with impressive production rates: newest pad averaging 811 Boe/d (120 days), second pad exceeding 747 Boe/d (275 days), and first pad surpassing 1,085 Boe/d (404 days). Battalion has already drilled four wells of its 2025 six-well plan.

Battalion Oil (NYSE American: BATL) has terminated its merger agreement with Fury Resources, Inc. due to Fury's inability to meet obligations and close the transaction. Despite multiple amendments and support from preferred equity holders who agreed to contribute 100% of their preferred equity, Fury failed to provide evidence of additional equity financing. The scheduled special stockholders meeting for December 27, 2024, has been cancelled.

In operational updates, Battalion reports its latest drilling campaign is ahead of schedule and budget in Monument Draw. Two new Vermejo wells are performing above expectations, producing 1,211 barrels of oil equivalent per day (84% oil) with capital costs below $950/ft. The acid gas injection facility has processed over 5.1 billion cubic feet of sour gas, with daily volumes exceeding 30 million cubic feet per day.

Battalion Oil (NYSE American: BATL) reported third quarter 2024 financial results with sales volumes of 12,076 Boe/d (52% oil) and revenue of $45.3 million, down from 12,717 Boe/d and $54.1 million in Q3 2023. The company reported net income of $5.6 million ($0.34 per share) and Adjusted EBITDA of $13.5 million. The AGI facility treated 1.7 Bcf during Q3, with expected savings up to $2.0 million per month. Battalion amended its merger agreement with Fury, reducing the purchase price to $7.00 per share. The company's total liquidity was $29.8 million with $147.8 million in outstanding indebtedness as of September 30, 2024.

Battalion Oil (NYSE American: BATL) has amended its merger agreement with Fury Resources, Inc. The key points are:

1. Fury will acquire all outstanding BATL common shares for $7.00 per share in cash.
2. Preferred stockholders will exchange their shares for new Fury preferred shares.
3. The deal is expected to close in Q4 2024, subject to stockholder approval.
4. Fury has secured $548 million in capital commitments, including $200 million in debt, $188 million in preferred stock, and $160 million in equity.
5. Post-transaction, Fury is expected to have $100 million in cash on the balance sheet.

The merger aims to provide Fury with a foothold in a prolific basin, offering high-return locations and consolidation opportunities. Both companies express confidence in the deal's potential to benefit BATL stockholders and Fury Resources post-transaction.

Battalion Oil (NYSE American: BATL) announced its Q2 2024 financial and operating results. Key highlights include:

• AGI facility treated 1.82 Bcf, reducing operating expenses by $4.26/Boe compared to Q1 2024
• Generated Q2 2024 sales volumes of 12,857 Boe/d (49% oil)
• Executed a $20.0 million preferred equity raise in May 2024
• Reviewing a requested amendment to the Merger Agreement with Fury, potentially reducing the purchase price to $7.00 per share

The company reported a net loss of $8.7 million or $0.53 per share, with adjusted EBITDA of $15.6 million. Total liquidity as of June 30, 2024, was $54.4 million.

Battalion Oil announced its first quarter 2024 financial and operating results. Key achievements include the successful completion and commencement of production from two wells at the Glacier pad, surpassing cost and performance expectations. The company also executed two preferred equity raises totaling $40 million to support its drilling program and debt reduction. Despite these successes, the company reported a decline in production and revenue compared to the same period last year, with average daily net production falling to 12,989 Boe/d and total operating revenue decreasing to $49.9 million. Battalion reported a net loss of $36.8 million for Q1 2024. The AGI project resumed operations, treating significant volumes of gas and projecting substantial cost savings. Ongoing strategic initiatives include a merger with Fury Resources.