Investor group builds 5.39% Battalion Oil (BATL) stake in open market buys

Rhea-AI Filing Summary

Diveroli Investment Group LLC and Kingbird Ventures LLC have disclosed a significant stake in Battalion Oil Corp on a Schedule 13D. The reporting persons beneficially own 887,455 shares of Class A common stock, representing 5.39% of the outstanding shares, based on 16,456,563 shares outstanding as of September 30, 2025.

The shares are held in the name of Kingbird Ventures LLC, with Diveroli Investment Group LLC acting as its authorized representative. The investors acquired the stake using their investment funds through open market purchases from July 1, 2025 to January 21, 2026 for an aggregate consideration of $1,047,196.90 at an average price of $1.18 per share, including brokerage fees. They state that they may buy more or sell shares over time depending on Battalion Oil’s performance, market conditions, and other opportunities, but at this time have not adopted specific plans for corporate transactions such as mergers, asset sales, or board changes.

Insights

Equity Ownership & Governance Analyst

New 5.39% stake in Battalion Oil disclosed by an investment group, with flexible but nonspecific future intentions.

The filing shows Diveroli Investment Group LLC and Kingbird Ventures LLC jointly holding 887,455 Class A shares of Battalion Oil Corp, equal to 5.39% of the company based on 16,456,563 shares outstanding as of September 30, 2025. The position was built via open market purchases between July 1, 2025 and January 21, 2026 for total consideration of $1,047,196.90 at an average price of $1.18 per share.

The investors describe themselves as significant holders who may influence corporate activities but explicitly state they currently have no concrete plans for transactions such as mergers, asset sales, board changes, or recapitalizations beyond what is outlined. They reserve flexibility to increase or decrease their position in the open market or through private transactions depending on Battalion Oil’s business performance, financial condition, share price, and broader market factors.

This type of 13D can be relevant for governance because it identifies a single group with more than 5% beneficial ownership that is actively monitoring its investment. Future changes in their stake or any shift toward specific proposals would typically appear in later public filings if and when they occur.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

BATTALION OIL CORP

(Name of Issuer)

Class A Common Stock, $0.01 par value per share

(Title of Class of Securities)

07134L107

(CUSIP Number)

Aharon Diveroli
Diveroli Investment Group LLC, 848 Brickell Ave., Suite PH5
Miami, FL, 33131
305-202-0630

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

01/21/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 07134L107

1

Name of reporting person

Diveroli Investment Group LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 887,455.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 887,455.00

11

Aggregate amount beneficially owned by each reporting person

887,455.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.39 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Based on 16,456,563 shares of Class A Common Stock outstanding as of September 30, 2025, as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on November 13, 2025.

SCHEDULE 13D

CUSIP No. 07134L107

1

Name of reporting person

Kingbird Ventures LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

WYOMING

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 887,455.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 887,455.00

11

Aggregate amount beneficially owned by each reporting person

887,455.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.39 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Based on 16,456,563 shares of Class A Common Stock outstanding as of September 30, 2025, as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on November 13, 2025.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Common Stock, $0.01 par value per share
(b)	Name of Issuer: BATTALION OIL CORP
(c)	Address of Issuer's Principal Executive Offices: 820 Gessner Road, Suite 1100, Houston, TEXAS , 77024.
Item 2.	Identity and Background
(a)	Diveroli Investment Group LLC and Kingbird Ventures LLC (the "Reporting Persons"),
(b)	The Reporting Persons have a business address of 848 Brickell Ave., Suite PH5, Miami, FL, 33131
(c)	Reported shares are held in the name of Kingbird Ventures LLC, and Diveroli Investment Group LLC is its authorized representative.
(d)	N/A
(e)	N/A
(f)	Diveroli Investment Group LLC is a Delaware limited liability company. Kingbird Ventures LLC is a Wyoming limited liability company.
Item 3.	Source and Amount of Funds or Other Consideration
	The Reporting Persons have utilized certain investment funds in their possession as the consideration for the acquisition of 887,455.00 shares of Common Stock, $0.0001 par value per share, which constitutes a beneficial ownership percentage of 5.39% as of the date of this Schedule 13D. [The shares were acquired in open market purchases from July 1, 2025 to January 21, 2026 for an aggregate consideration of $1,047,196.90 at an average price per share of Common stock, inclusive of brokerage fees, of $1.18.
Item 4.	Purpose of Transaction
	As the holders of a significant interest in the Issuer, the Reporting Persons may have influence over the corporate activities of the Issuer, including activities which may relate to the transactions described in clauses (a) through (j) of the instructions to Item 4 of Schedule 13D. The Reporting Persons from time to time intends to review their investments in the Issuer on the basis of various factors, including the Issuer's business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in general and those for the shares of common stock of the Issuer (the "Shares") in particular, as well as other developments and other investment opportunities. Based upon such review, the Reporting Persons will take such actions in the future as the Reporting Persons may deem appropriate in light of the circumstances existing from time to time. If the Reporting Persons believe that further investment in the Issuer is attractive, whether because of the market price of the Shares or otherwise, they may acquire Shares or other securities of the Issuer either in the open market or in privately negotiated transactions. Similarly, depending on market and other factors, the Reporting Persons may determine to dispose of some or all of the Shares currently owned by the Reporting Persons or otherwise acquired by the Reporting Persons either in the open market or in privately negotiated transactions. Except as set forth in this Schedule 13D, the Reporting Persons have not formulated any plans or proposals which relate to or would result in: (a) the acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (c) a sale or transfer of a material amount of the assets of the Issuer or any of its subsidiaries; (d) any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) any material change in the present capitalization or dividend policy of the Issuer; (f) any other material change in the Issuer's business or corporate structure; (g) any change in the Issuer's charter or bylaws or other instrument corresponding thereto or other action which may impede the acquisition of control of the Issuer by any person; (h) causing a class of the Issuer's securities to be deregistered or delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or (j) any action similar to any of those enumerated above.
Item 5.	Interest in Securities of the Issuer
(a)	887,455.00 shares of Class A Common Stock, $0.01 par value per share, which constitutes a beneficial ownership percentage of 5.39% as of the date of this Schedule 13D. Based on 16,456,563 shares of Class A Common Stock outstanding as of September 30, 2025, as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on November 13, 2025.
(b)	887,455.00 shares of Class A Common Stock, $0.01 par value per share.
(c)	N/A
(d)	N/A
(e)	N/A
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	N/A
Item 7.	Material to be Filed as Exhibits.
	EXHIBIT 99.1 JOINT FILING AGREEMENT

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Diveroli Investment Group LLC

Signature:	/s/ Aharon Diveroli
Name/Title:	Aharon Diveroli/Chief Investment Officer
Date:	01/23/2026

Kingbird Ventures LLC

Signature:	/s/ Aharon Diveroli
Name/Title:	Aharon Diveroli/Chief Investment Officer
Date:	01/23/2026

FAQ

How many Battalion Oil (BATL) shares does Diveroli Investment Group and Kingbird Ventures own?

The reporting persons beneficially own 887,455 shares of Battalion Oil Corp Class A common stock, representing 5.39% of the company based on 16,456,563 shares outstanding as of September 30, 2025.

How much did the investors pay for their Battalion Oil (BATL) stake?

The shares were acquired in open market purchases from July 1, 2025 to January 21, 2026 for an aggregate consideration of $1,047,196.90 at an average price of $1.18 per share, inclusive of brokerage fees.

Who are the reporting persons in the Battalion Oil (BATL) Schedule 13D?

The reporting persons are Diveroli Investment Group LLC and Kingbird Ventures LLC. The reported shares are held in the name of Kingbird Ventures LLC, and Diveroli Investment Group LLC is described as its authorized representative.

Does the 5.39% holder have specific plans to change Battalion Oil (BATL)?

The investors state they may influence corporate activities as significant holders and will review their investment over time, but they report no current specific plans for actions such as mergers, asset sales, board changes, or other major corporate restructurings beyond what is described in the filing.

What percentage of Battalion Oil (BATL) does 887,455 shares represent?

The 887,455 shares of Class A common stock represent 5.39% of Battalion Oil’s outstanding Class A shares, based on 16,456,563 shares outstanding as of September 30, 2025 as reported in the company’s Form 10-Q.

Where are Diveroli Investment Group and Kingbird Ventures based?

The business address for both reporting persons is listed as 848 Brickell Ave., Suite PH5, Miami, FL 33131. Diveroli Investment Group LLC is a Delaware limited liability company and Kingbird Ventures LLC is a Wyoming limited liability company.