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 (NYSE American: BATL) is an independent energy company focused on the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States. The BATL news page on Stock Titan aggregates company press releases and related coverage so readers can follow how Battalion’s operations, financing decisions and strategic actions evolve over time.
According to its recurring earnings announcements, Battalion regularly reports on quarterly financial and operating results, including sales volumes in barrels of oil equivalent per day, oil mix, operating revenues and key expense metrics. These releases often highlight developments in core fields such as Monument Draw, Hackberry Draw and West Quito, including the progress of six-well drilling programs, pad completions and well performance relative to the company’s internal type curves.
News items also cover infrastructure and cost-related updates, such as the status of the company’s acid gas injection (AGI) facility, which has treated sour gas and returned sweet gas for sale to a midstream partner, and the impact of that facility’s operation or downtime on gathering and treating expenses. Battalion’s communications further address capital structure and liquidity topics, including term loan refinancings, preferred equity raises and amendments to its senior secured credit agreement.
In addition, the company’s releases describe strategic initiatives, including the previously announced and later terminated Merger Agreement with Fury Resources, Inc., the ongoing evaluation of strategic alternatives, and the Agreement of Sale and Purchase to divest substantially all of its West Quito Draw properties to MCM Delaware Resources, LLC. Regulatory and listing matters, such as NYSE American’s acceptance of Battalion’s plan to regain compliance with continued listing standards, are also disclosed through news and related 8-K filings. Investors and observers can use the BATL news feed to review these categories of information in one place and compare how operational performance, asset portfolio changes and capital decisions are discussed over successive quarters.
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.
Battalion Oil Corporation (NYSE American: BATL) reported strong operational results for Q3 2021, achieving an average daily production of 17,728 Boepd, a 14% increase from Q2 2021. The company also posted an adjusted EBITDA of $23.0 million, up 63% year-over-year. Revenue reached $80.8 million, driven by higher realized oil prices. Battalion increased its 2021 capital expenditure guidance by $5 million, now forecasting total capex between $45.0 million and $55.0 million. The company effectively reduced net debt by over $10 million during the quarter.
Battalion Oil Corporation (NYSE American: BATL) reported its second quarter 2021 operational results, showing a significant increase in production and revenue. Average daily net production reached 15,571 Boepd, a rise from 14,264 Boepd in Q2 2020, largely due to new wells brought online. Total operating revenue jumped to $64.4 million from $18.5 million year-over-year, thanks to higher realized oil prices. Despite a net loss of $33.9 million, adjusted net income was $0.6 million. The company also upgraded facilities to enhance performance in the second half of 2021.
Battalion Oil Corporation (BATL) reported its Q1 2021 operational results, achieving an average daily production of 14,333 Boepd and total revenue of $55.5 million, up from $47.4 million in Q1 2020 despite production declines. The company spud two new wells and completed four DUCs, lowering completion costs to $395/lateral ft. Adjusted EBITDA rose to $15.3 million. However, a net loss of $33.4 million reflected ongoing challenges, including Winter Storm Uri and COVID-19 impacts. Battalion is positioned to meet its production targets for 2021.
Battalion Oil Corporation (NYSE American: BATL) reported its 2020 operational results, highlighting key developments and guidance for 2021.
The company achieved a 12% reduction in adjusted operating unit costs and a significant free cash flow outlook for FY2021, with a capital expenditure plan of $40-$50 million.
Despite a net loss of $63.8 million in Q4 2020, Battalion maintains a strong balance sheet, with $190 million borrowing capacity and notable hedge positions. 2021 production guidance estimates oil production between 8.8 and 9.8 MBopd.
Battalion Oil Corporation (NYSE: BATL) announced a significant boost in liquidity following the sale of its Northern West Quito Assets for $26.3 million. This sale, completed in December 2020, involved assets that contributed less than 5% of the company's average daily oil production. As of year-end 2020, Battalion reported a liquidity position of $31.6 million, comprising $27.3 million in credit availability and $4.3 million in cash. CEO Richard Little expressed confidence in the company’s operational progress and its strategic focus on capital discipline for growth.
Battalion Oil Corporation (NYSEA: BATL) reported its third quarter 2020 results, with average daily net production at 17,076 Boe per day, 56% from oil. Total revenue reached $39.8 million, predominantly from crude oil. Despite a reported net loss of $153.1 million, the Company adjusted G&A costs significantly to $2.09 per Boe, down from $4.92 in Q3 2019. Battalion has oil hedged for 2021 at an average price of $45.51 per barrel, improving price stability. The conference call is scheduled for November 10, 2020, to discuss these results further.
Battalion Oil Corporation (NYSEA: BATL) announced the appointment of Kevin Andrews as Executive Vice President, Chief Financial Officer, and Treasurer, effective August 17, 2020. He replaces Ragan Altizer, who is retiring from the oil and gas sector. CEO Rich Little highlighted Andrews' extensive experience in M&A, which will aid in pursuing responsible growth and transformational change. Andrews has a solid background in oil and gas investment banking and previously served as CFO of Denali Incorporated. Rich acknowledged Altizer's significant contributions during his tenure.
Battalion Oil Corporation (BATL) reported second quarter 2020 results, showing a total revenue of $18.5 million with crude oil making up 85%. Adjusted G&A decreased to $2.08/Boe from $5.47/Boe in 2019. The company generated an Adjusted LTM EBITDA of $98 million, a 70% increase from Q2 2019. Despite a net loss of $127.3 million due to impairments, Battalion maintains a net leverage below 2.00x and has hedged significant oil volumes for 2020-2022 at favorable prices. The company aims to focus on free cash flow and debt reduction moving forward.
Battalion Oil Corporation (NYSEA: BATL) reported its Q1 2020 results, revealing average daily net production of 18,791 Boepd, with oil contributing 10,297 Bopd. Total revenue reached $47.4 million, primarily from oil sales, despite the impact of hedge settlements. Operating costs decreased significantly to $18.20 per Boe from $25.49 per Boe in Q1 2019. The company's net income was $114.5 million, equating to $7.07 per share, alongside an adjusted EBITDA of $23.5 million. Battalion's liquidity stood at $26.5 million, and it has hedged oil production at favorable prices for 2020-2022.