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 Corporation reports company developments tied to its onshore oil and natural gas operations in the Delaware Basin, with activity centered on the Monument Draw area in Ward and Winkler counties, Texas. News commonly covers production performance, gas treating and sour-gas compression capacity, midstream reliability projects, drilling inventory, reserves, and operating results.
Company updates also address completed asset transactions, including acquisitions that expand the Monument Draw position and dispositions of noncore assets, as well as balance-sheet actions, equity and warrant transactions, debt repayment, material agreements, and governance matters affecting the NYSE American-listed common stock.
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Battalion Oil Corporation (NYSEA: BATL) has announced the resignation of CEO Richard Little, who is leaving to pursue other opportunities, effective immediately. The company has appointed Matt Steele, a seasoned executive with significant experience in exploration and production (E&P), as his replacement. Steele's prior roles include CEO at Bruin E&P Partners and Ursa Resources, and he has been recognized for his expertise in capital allocation and operational efficiency. Chairman Jonathan Barrett expressed confidence in Steele's leadership, emphasizing the potential for enhanced internal value creation.
Battalion Oil Corporation (NYSE American: BATL) released its fourth quarter 2022 results, showing average daily net production of 15,696 barrels of oil equivalent per day (Boe/d) and total operating revenue of $76.8 million.
Year-end reserves were approximately 92.0 million barrels, with a valuation of $1.5 billion. The company faced a net loss of $7.7 million in Q4 2022, although Adjusted EBITDA improved to $22.7 million.
Liquidity was bolstered by the issuance of 25,000 preferred shares, raising $24.4 million. An acid gas treating facility is expected to lower processing costs significantly.
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.