Welcome to our dedicated page for Battalion Oil news (Ticker: BATL), a resource for investors and traders seeking the latest updates and insights on Battalion Oil stock.
Battalion Oil Corp (BATL) is an independent energy company focused on acquiring and developing onshore oil and natural gas assets in the Delaware Basin. This page provides investors and industry professionals with a centralized source for all official company announcements, operational updates, and strategic developments.
Key benefits include access to real-time updates on production milestones, financial results, and asset management decisions. Users will find press releases covering drilling advancements, partnership agreements, and sustainability initiatives alongside quarterly earnings reports and regulatory filings.
The curated news collection serves as a historical record of BATL's operational progress while offering insights into its technical expertise in horizontal drilling and reservoir optimization. Content spans exploration updates, capital expenditure plans, and leadership announcements critical for evaluating the company's market position.
Bookmark this page to track BATL's developments in one of America's most prolific hydrocarbon regions. Check regularly for new information about resource estimates, infrastructure investments, and operational efficiencies in the evolving energy landscape.
On January 20, 2023, Battalion Oil Corporation (NYSEA: BATL) announced the appointment of Kristen McWatters as the new Executive Vice President, Chief Financial Officer, and Treasurer, effective January 26, 2023. She replaces Kevin Andrews, who will continue in an advisory role until the end of Q1 2023. McWatters brings extensive experience in finance and accounting from her previous roles in the energy sector. The company also appointed Walter Mayer as Senior Vice President and General Counsel, promoting him from Vice President, Legal.
CEO Rich Little expressed enthusiasm about McWatters' onboarding, highlighting her skills in M&A and capital management.
Battalion Oil Corporation (BATL) has announced its third-quarter 2022 financial and operational results, showcasing a strong performance amidst challenging market conditions. The company reported a ~8% increase in average daily production compared to Q2 2022 and a 34% rise in Adjusted EBITDA. Despite a general decline in crude oil prices, Battalion achieved an 11% increase in realized prices. Notably, the company is revising its oil production guidance for 2022 to a new range of 7.5 – 8.5 MBopd while maintaining other guidance metrics. A new acid gas treating facility is expected to be operational by Q1 2023.
Battalion Oil Corporation (NYSE American: BATL) reported its second quarter 2022 financial results, with average daily production of 15,044 Boepd and total revenue of $101.5 million. This marks a revenue increase from $64.4 million in Q2 2021, driven by a $28.75 per Boe rise in average realized prices. The company faces realized hedge losses of $44.7 million. Positive developments include five wells brought online, a strategic acid gas treatment facility, and strong projected EBITDA growth. As of June 30, 2022, the company had $220 million in debt and $58.6 million in total liquidity.
Caracara Services, LLC has partnered with Battalion Oil Corporation (NYSE: BATL) to launch a joint venture for the Brazos Amine Treater facility in the Texas Delaware Basin. This facility will treat and sequester acid gases, enhancing operational capacity for E&P companies and aiding in ESG compliance. Phase one will handle 30 MMscfd of acid gas, with plans for an additional processing unit. This initiative is expected to significantly lower operating costs for Battalion and streamline gas treatment processes, paving the way for increased production while addressing environmental concerns.
Battalion Oil Corporation (NYSE American: BATL) has formed a joint venture with Caracara Services, LLC to develop a carbon sequestration facility in Winkler County, Texas. This initiative is expected to boost profitability by cutting costs by 20%-30% annually and enhance environmental sustainability through significant CO2 and H2S capture. With an initial capacity of 30 MMcfd, the facility aims to be operational by early 2023 and could potentially expand to 50 MMcfd. Battalion retains a 5% equity interest in the joint venture, while Caracara covers construction costs.
Battalion Oil Corporation (NYSE: BATL) reported its Q1 2022 financial results, highlighting strong operational performance with average daily production at 14,767 Boepd and total revenue of $81.6 million. This marks an increase from Q1 2021's production of 14,333 Boepd and revenue of $55.5 million, driven by a $18.42 rise in average realized prices. Despite hedge losses of $32.8 million, adjusted EBITDA was $11.8 million. The company maintains $78.5 million in total liquidity. CEO Richard Little emphasized ongoing efforts in capital discipline amid operational growth.
Battalion Oil Corporation (NYSE American: BATL) announced it will release its first quarter 2022 financial results on May 9, 2022, after trading closes. A conference call is scheduled for May 10, 2022, at 10:00 a.m. Central Time to discuss these results. Local participants can dial +1 (646) 828-8193, while others may call (888) 220-8474 for toll-free access. The event will also be accessible via the Company's website, with a replay available until June 30, 2022.
Battalion Oil Corporation (NYSE: BATL) reported strong financial and operational results for Q4 and full year 2021. Average daily production reached 17,283 Boepd in Q4, with proved reserves increasing by 51% to 95.9 MMBoe. The company completed a strategic refinancing, enhancing liquidity for future growth. Full-year revenues rose to $285.2 million, driven by higher commodity prices. Although the company posted a net loss of $28.3 million, adjusted net income of $17.1 million reflects operational efficiency. The upcoming capital program aims for double-digit growth in average daily oil production by year-end 2022.
Battalion Oil Corporation (NYSE American: BATL) announced its operational update and preliminary 2022 capital plan on February 28, 2022. The company closed a strategic refinancing, allowing for a multi-year drilling program. Battalion plans to spud 12 wells in 2022 with capital expenditures estimated between $130 million to $150 million, focusing 90% on drilling and completion activities. Although annualized production is expected to remain flat, daily oil production is projected to grow by double digits by year-end 2022. The fourth quarter earnings will be released on March 7, 2022.
Battalion Oil Corporation (NYSE American: BATL) announced a new first lien delayed draw term loan facility of up to $235 million, with initial borrowings of $200 million to fully repay its previous credit facility and enhance liquidity. The remaining $35 million will support the Monument Draw asset's future development. CEO Richard Little emphasized the strategic refinancing will allow for growth and improved returns through a strong hedge program. Macquarie Group acted as lead arranger for the loan, with legal guidance from Weil, Gotshal & Manges LLP and Sidley Austin LLP.
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