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.
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.