Battalion Announces Appointment of New Chief Financial Officer and Appointment of General Counsel

Rhea-AI Summary

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.

Positive

• Appointment of a new CFO with extensive experience in the energy sector and M&A.
• Coordinated transition with outgoing CFO enhances stability.
• Promotion of Walter Mayer may strengthen legal oversight.

Negative

• Departing CFO may create temporary uncertainty in financial strategy.

HOUSTON, Jan. 20, 2023 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSEA: BATL, “Battalion” or the “Company”) today announced the appointment of Kristen McWatters as Executive Vice President, Chief Financial Officer and Treasurer of the Company effective January 26, 2023, replacing Kevin Andrews, who plans to pursue other opportunities. Mr. Andrews will continue with the Company in an advisory role through the end of the first quarter.

Rich Little, Battalion’s Chief Executive Officer commented, “Kristen brings to Battalion a strong public accounting experience along with hands on experience in M&A, forecasting and capital management. I am pleased to welcome Kristen to the team and will leverage her experience as we continue to create value in the Delaware Basin.”

Ms. McWatters has had a successful career in the energy industry, serving in progressive roles in leadership in accounting, finance and financial reporting. She most recently served as Interim Chief Accounting Officer for a publicly traded investment banking firm where she was responsible for all of the company’s accounting and reporting functions. She previously served as Senior Vice President, Chief Financial Officer and Chief Accounting Officer for Goodrich Petroleum where she successfully led and managed the financial requirements of the company through completion of a sell-side transaction. Prior to joining Goodrich Petroleum, Ms. McWatters was the Controller for a publicly traded independent retail energy services company and a manager of financial reporting for Southwestern Energy Co. Ms. McWatters began her career at KPMG LLP after earning a Masters in Finance and a Bachelor of Business Administration in Accounting from Texas A&M University in May 2008. Ms. McWatters is a certified public accountant.

Mr. Little commented further, “We are excited to add Kristen to our team and integrate her quickly into our business. We are happy to have the opportunity for a coordinated transition with Kevin and will take advantage of having both of these leaders on the team during this period. We want to thank Kevin for his time at Battalion and we wish him well in all of his future endeavors.”

The Company also announced the appointment of Walter Mayer to Senior Vice President and General Counsel. Mr. Mayer previously served as Vice President, Legal for the Company. Mr. Little commented, “We are pleased to recognize Walter’s contributions and accomplishments at the company and value him as a key member of the leadership team.”

About Battalion

Battalion Oil Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States.

Contact
Chris Lang
Director, Finance & Investor Relations
(832) 538-0551

FAQ

Who is the new CFO of Battalion Oil Corporation?

Kristen McWatters has been appointed as the new CFO effective January 26, 2023.

What experience does Kristen McWatters have?

Kristen McWatters has significant experience in accounting and finance within the energy industry, including roles related to M&A.

Why did Kevin Andrews leave Battalion Oil Corporation?

Kevin Andrews is leaving to pursue other opportunities but will act in an advisory capacity through the first quarter.

What other leadership change occurred at Battalion Oil Corporation?

Walter Mayer was appointed as Senior Vice President and General Counsel, moving from his previous role as Vice President, Legal.

What is the impact of the management change on Battalion Oil Corporation?

The management change aims to bring fresh perspectives and maintain stability during the transition period.