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Battalion Oil Corp - BATL STOCK NEWS

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 Corp (BATL) is an independent energy company focused on acquiring and developing onshore oil and natural gas assets in the Delaware Basin. This page provides investors and industry professionals with a centralized source for all official company announcements, operational updates, and strategic developments.

Key benefits include access to real-time updates on production milestones, financial results, and asset management decisions. Users will find press releases covering drilling advancements, partnership agreements, and sustainability initiatives alongside quarterly earnings reports and regulatory filings.

The curated news collection serves as a historical record of BATL's operational progress while offering insights into its technical expertise in horizontal drilling and reservoir optimization. Content spans exploration updates, capital expenditure plans, and leadership announcements critical for evaluating the company's market position.

Bookmark this page to track BATL's developments in one of America's most prolific hydrocarbon regions. Check regularly for new information about resource estimates, infrastructure investments, and operational efficiencies in the evolving energy landscape.

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Battalion Oil Corporation (NYSE American: BATL) has entered into a Merger Agreement with Fury Resources, Inc. for a total transaction value of approximately $450 million, with the transaction expected to close in the first quarter of 2024. The acquisition represents a return to the Delaware Basin for the Buyer's team, including Battalion’s former CEO Richard Little, and offers opportunities through a joint venture with Caracara. Several major shareholders have agreed to reinvest proceeds from the sale into the ongoing business, reflecting confidence in the asset's development and profitable growth.
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Battalion Oil Corporation (NYSE American: BATL) announced financial and operating results for Q3 2023, highlighting sales volumes, drilling operations, and preferred equity raise. Management comments on drilling operations and acid gas injection project. Results of operations show average daily net production, revenue, and expenses. The company reported a net loss and adjusted EBITDA for the quarter. Liquidity and balance sheet details are also provided.
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Battalion Oil Corporation announced Q2 2023 results with sales volumes of 14,253 Boe/d. Net loss of $4.7 million and Adjusted EBITDA of $16.8 million. Acid gas injection project expected online before year end. Decrease in revenues due to lower average realized prices. Company obtained commitment letter for $38 million preferred equity securities.
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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.

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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.

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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.

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Battalion Oil Corporation (BATL) has announced its third-quarter 2022 financial and operational results, showcasing a strong performance amidst challenging market conditions. The company reported a ~8% increase in average daily production compared to Q2 2022 and a 34% rise in Adjusted EBITDA. Despite a general decline in crude oil prices, Battalion achieved an 11% increase in realized prices. Notably, the company is revising its oil production guidance for 2022 to a new range of 7.5 – 8.5 MBopd while maintaining other guidance metrics. A new acid gas treating facility is expected to be operational by Q1 2023.

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Battalion Oil Corporation (NYSE American: BATL) reported its second quarter 2022 financial results, with average daily production of 15,044 Boepd and total revenue of $101.5 million. This marks a revenue increase from $64.4 million in Q2 2021, driven by a $28.75 per Boe rise in average realized prices. The company faces realized hedge losses of $44.7 million. Positive developments include five wells brought online, a strategic acid gas treatment facility, and strong projected EBITDA growth. As of June 30, 2022, the company had $220 million in debt and $58.6 million in total liquidity.

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Caracara Services, LLC has partnered with Battalion Oil Corporation (NYSE: BATL) to launch a joint venture for the Brazos Amine Treater facility in the Texas Delaware Basin. This facility will treat and sequester acid gases, enhancing operational capacity for E&P companies and aiding in ESG compliance. Phase one will handle 30 MMscfd of acid gas, with plans for an additional processing unit. This initiative is expected to significantly lower operating costs for Battalion and streamline gas treatment processes, paving the way for increased production while addressing environmental concerns.

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Battalion Oil Corp

NYSE:BATL

BATL Rankings

BATL Stock Data

20.74M
16.34M
0.73%
79.36%
2.06%
Oil & Gas E&P
Crude Petroleum & Natural Gas
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United States
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