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 announced its first quarter 2024 financial and operating results. Key achievements include the successful completion and commencement of production from two wells at the Glacier pad, surpassing cost and performance expectations. The company also executed two preferred equity raises totaling $40 million to support its drilling program and debt reduction. Despite these successes, the company reported a decline in production and revenue compared to the same period last year, with average daily net production falling to 12,989 Boe/d and total operating revenue decreasing to $49.9 million. Battalion reported a net loss of $36.8 million for Q1 2024. The AGI project resumed operations, treating significant volumes of gas and projecting substantial cost savings. Ongoing strategic initiatives include a merger with Fury Resources.
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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.