Top 2 Energy Stocks That May Collapse In Q3
- As of Sept. 20, 2024, two stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
- 09/20/2024
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Battalion Oil Corporation Announces Amendment to Merger Agreement with Fury Resources, Inc.
- Houston, Texas, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL) (“Battalion” or the “Company”) announced today that it has entered into an amendment to the previously disclosed Agreement and Plan of Merger (as amended, the “Merger Agreement”) with Fury Resources, Inc. (“Buyer” or “Parent”), pursuant to which Parent has agreed to acquire all of the outstanding shares of Common Stock of the Company (the “Common Stock”) for $7.00 per share in cash, without interest (the “Merger Consideration”). The holders of all of the outstanding shares of the Preferred Stock of the Company, Luminus Management, LLC (“Luminus”), Gen IV Investment Opportunities, LLC, and funds and accounts managed by Oaktree Capital Management, L.P. (“Oaktree”), or their respective affiliates (collectively, the “Rollover Stockholders”), have agreed to contribute to Buyer all of their shares of Preferred Stock of the Company in exchange for new preferred shares of Buyer at a valuation based on the redemption value of such Company Preferred Stock.
- 09/19/2024
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Permex Petroleum Announces Appointment of New Directors
- Vancouver, British Columbia--(Newsfile Corp. - August 27, 2024) - Permex Petroleum Corporation (CSE: OIL) (OTC: OILCF) (FSE: 75P) ("Permex" or the "Company") is pleased to announce that the Company's Board of Directors (the "Board") has approved the appointment of Richard Little and Kevin Nanke to serve on the Board effective as of August 26, 2024. Mr. Little is the current CEO of private operator, Fury Resources.
- 08/27/2024
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Battalion Oil (BATL) Earnings & Revenues Decline Y/Y in Q2
- A decrease in average daily production and lower natural gas prices hurt Battalion Oil's (BATL) earnings in Q2.
- 08/16/2024
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Battalion Oil Corporation Announces Second Quarter 2024 Financial and Operating Results
- HOUSTON, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL, “Battalion” or the “Company”) today announced financial and operating results for the second quarter of 2024.
- 08/14/2024
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SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates HCP, BATL on Behalf of Shareholders
- NEW YORK, NY / ACCESSWIRE / June 14, 2024 / Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: HashiCorp Inc. (NASDAQ:HCP)'s sale to IBM for $35.00 per share in cash. If you are a HashiCorp shareholder, click here to learn more about your rights and options.
- 06/14/2024
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Zacks Initiates Coverage of Battalion Oil With Underperform Recommendation
- Discover why Zacks rates Battalion Oil (BATL) as "Underperform," being the first on Wall Street to initiate coverage on the stock. Explore its financial struggles and operational challenges in 1Q24, with high debt and declining production impacting prospects.
- 06/13/2024
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BATL Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of Battalion Oil Corporation Is Fair to Shareholders
- NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Battalion Oil Corporation (NYSE American: BATL) to Fury Resources, Inc. for $9.80 per share in cash is fair to Battalion shareholders. Halper Sadeh encourages Battalion shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpersadeh.com or zhalper@halpersadeh.com. The investigation concerns w.
- 06/13/2024
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Battalion Oil Corporation Announces First Quarter 2024 Financial and Operating Results
- HOUSTON, May 15, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL, “Battalion” or the “Company”) today announced financial and operating results for the first quarter of 2024.
- 05/15/2024
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Battalion Oil Corporation Announces Fourth Quarter 2023 Financial and Operating Results
- HOUSTON, March 29, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL, “Battalion” or the “Company”) today announced financial and operating results for the fourth quarter of 2023.
- 03/29/2024
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INVESTOR ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Battalion Oil Corporation and Encourages Investors to Contact the Firm
- LOS ANGELES, CA / ACCESSWIRE / February 12, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Battalion Oil Corporation ("Battalion Oil" or "the Company") (NYSE American:BATL) for potential breaches of fiduciary duty on the part of its directors and management. The investigation focuses on determining if the Battalion Oil board breached its fiduciary duties to shareholders.
- 02/12/2024
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Battalion Oil in Compliance with NYSE American Listing Standards
- Houston, Texas, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL) (“Battalion” or the “Company”) today announced that on February 8, 2024, it received a notice letter on behalf of the NYSE American LLC acknowledging that, because the Company held its 2023 Annual Meeting on February 7, 2024, the Company is in compliance with its continued listing standards set forth in Section 704 of the Company Guide.
- 02/09/2024
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IMPORTANT INVESTOR ALERT: The Schall Law Firm Announces it is Investigating Claims Against Battalion Oil Corporation and Encourages Investors to Contact the Firm
- LOS ANGELES, CA / ACCESSWIRE / February 3, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Battalion Oil Corporation ("Battalion Oil" or "the Company") (NYSE American:BATL) for potential breaches of fiduciary duty on the part of its directors and management. The investigation focuses on determining if the Battalion Oil board breached its fiduciary duties to shareholders.
- 02/03/2024
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INVESTOR ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Battalion Oil Corporation and Encourages Investors to Contact the Firm
- LOS ANGELES, CA / ACCESSWIRE / February 2, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Battalion Oil Corporation ("Battalion Oil" or "the Company") (NYSE American:BATL) for potential breaches of fiduciary duty on the part of its directors and management. The investigation focuses on determining if the Battalion Oil board breached its fiduciary duties to shareholders.
- 02/02/2024
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IMPORTANT INVESTOR ALERT: The Schall Law Firm Announces it is Investigating Claims Against Battalion Oil Corporation and Encourages Investors to Contact the Firm
- LOS ANGELES, CA / ACCESSWIRE / February 1, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Battalion Oil Corporation ("Battalion Oil" or "the Company") (NYSE American:BATL) for potential breaches of fiduciary duty on the part of its directors and management. The investigation focuses on determining if the Battalion Oil board breached its fiduciary duties to shareholders.
- 02/01/2024
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Battalion Oil Corporation Announces Operations and Financial Update
- Houston, Texas, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL, “Battalion” or the “Company”) today announced certain financial and operating updates.
- 01/29/2024
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INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Battalion Oil Corporation and Encourages Investors to Contact the Firm
- LOS ANGELES, CA / ACCESSWIRE / January 29, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Battalion Oil Corporation ("Battalion Oil" or "the Company") (NYSE American:BATL) for potential breaches of fiduciary duty on the part of its directors and management. The investigation focuses on determining if the Battalion Oil board breached its fiduciary duties to shareholders.
- 01/29/2024
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INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Battalion Oil Corporation and Encourages Investors to Contact the Firm
- LOS ANGELES, CA / ACCESSWIRE / January 27, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Battalion Oil Corporation ("Battalion Oil" or "the Company") (NYSE American: BATL) for potential breaches of fiduciary duty on the part of its directors and management. The investigation focuses on determining if the Battalion Oil board breached its fiduciary duties to shareholders.
- 01/27/2024
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INVESTOR ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Battalion Oil Corporation and Encourages Investors to Contact the Firm
- LOS ANGELES, CA / ACCESSWIRE / January 26, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Battalion Oil Corporation ("Battalion Oil" or "the Company") (NYSE American:BATL) for potential breaches of fiduciary duty on the part of its directors and management. The investigation focuses on determining if the Battalion Oil board breached its fiduciary duties to shareholders.
- 01/26/2024
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SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Battalion Oil Corporation and Encourages Investors to Contact the Firm
- LOS ANGELES, CA / ACCESSWIRE / January 25, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Battalion Oil Corporation ("Battalion Oil" or "the Company") (NYSE American:BATL) for potential breaches of fiduciary duty on the part of its directors and management. The investigation focuses on determining if the Battalion Oil board breached its fiduciary duties to shareholders.
- 01/25/2024
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BATL Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of Battalion Oil Corporation Is Fair to Shareholders
- NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Battalion Oil Corporation (NYSE: BATL) to Fury Resources, Inc. for $9.80 per share in cash is fair to Battalion shareholders. Halper Sadeh encourages Battalion shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpersadeh.com or zhalper@halpersadeh.com. The investigation concerns whether Ba.
- 01/24/2024
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INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Battalion Oil Corporation and Encourages Investors to Contact the Firm
- LOS ANGELES, CA / ACCESSWIRE / January 24, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Battalion Oil Corporation ("Battalion Oil" or "the Company") (NYSE American:BATL) for potential breaches of fiduciary duty on the part of its directors and management. The investigation focuses on determining if the Battalion Oil board breached its fiduciary duties to shareholders.
- 01/24/2024
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INVESTOR ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Battalion Oil Corporation and Encourages Investors to Contact the Firm
- LOS ANGELES, CA / ACCESSWIRE / January 23, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Battalion Oil Corporation ("Battalion Oil" or "the Company") (NYSE American:BATL) for potential breaches of fiduciary duty on the part of its directors and management. The investigation focuses on determining if the Battalion Oil board breached its fiduciary duties to shareholders.
- 01/23/2024
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INVESTOR ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Battalion Oil Corporation and Encourages Investors to Contact the Firm
- LOS ANGELES, CA / ACCESSWIRE / January 22, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Battalion Oil Corporation ("Battalion Oil" or "the Company") (NYSE American: BATL) for potential breaches of fiduciary duty on the part of its directors and management. The investigation focuses on determining if the Battalion Oil board breached its fiduciary duties to shareholders.
- 01/22/2024
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Battalion Oil Corporation Receives Notice of Non-Compliance From NYSE American
- Houston, Texas, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL, “Battalion” or the “Company”) today announced that on January 5, 2024 it received official notice on behalf of the NYSE American LLC indicating that, because the Company did not hold an annual meeting of stockholders during its fiscal year ended December 31, 2023, the Company is not in compliance with its continued listing standards set forth in Section 704 of the NYSE American Company Guide.
- 01/09/2024
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PRISM Analysis: Why Did Battalion Oil Shares Soar on Friday?
- NEW YORK, NY, December 18, 2023 – Shares in Battalion Oil Corporation (NYSE American: BATL) surged more than 80% on Friday after the company announced it has agreed to be acquired by Fury Resources, Inc. for $9.80 per share in cash, which represents a total transaction value of approximately $450 million.
- 12/18/2023
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Shareholder Alert: Ademi LLP investigates whether Battalion Oil Corporation has obtained a Fair Price in its transaction with Fury Resources
- MILWAUKEE , Dec. 15, 2023 /PRNewswire/ -- Ademi LLP is investigating Battalion (NYSE American: BATL) for possible breaches of fiduciary duty and other violations of law in its transaction with Fury Resources. Click here to learn how to join the https://www.ademilaw.com/case/battalion-oil-corporation or call Guri Ademi toll-free at 866-264-3995.
- 12/15/2023
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Battalion Oil Corporation Announces Acquisition By Fury Resources, Inc.
- Houston, Texas, Dec. 15, 2023 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL) (“Battalion” or the “Company”) announced today that it had entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Fury Resources, Inc. (“Buyer” or “Parent”), pursuant to which Parent will acquire all of the outstanding shares of Common Stock of the Company (the “Common Stock”), for $9.80 per share in cash (the “Merger Consideration”), which represents a total transaction value of approximately $450 million. The Preferred Stock of the Company held by Luminus Management LLC and funds and accounts managed by Oaktree Capital Management, L.P., or their respective affiliates (collectively, the “Rollover Stockholders”), will be contributed to Buyer in exchange for new preferred shares of Buyer, or sold to Buyer for cash, in each case at a valuation based on the conversion or redemption value of such Preferred Stock.
- 12/15/2023
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Battalion Oil Continues To Add Preferred Equity
- Battalion Oil secured commitments for another $55 million in preferred equity. This is expected to help fund additional development, while allowing Battalion to make its scheduled term loan repayments. Preferred equity could total $166 million by its November 2025 term loan maturity.
- 11/16/2023
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Battalion Oil Corporation (BATL) Reports Q2 Loss, Tops Revenue Estimates
- Battalion Oil Corporation (BATL) came out with a quarterly loss of $0.42 per share versus the Zacks Consensus Estimate of a loss of $0.35. This compares to loss of $0.01 per share a year ago.
- 08/21/2023
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New Strong Sell Stocks for August 14th
- AGO, BATL and CSLLY have been added to the Zacks Rank #5 (Strong Sell) List on August 14, 2023.
- 08/14/2023
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Strength Seen in Battalion Oil Corporation (BATL): Can Its 12.7% Jump Turn into More Strength?
- Battalion Oil Corporation (BATL) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
- 07/13/2023
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Warren Buffett's Bet on OXY Signals Rosy Energy Outlook: 3 Picks
- Investors should allocate money to companies whose operations are directly correlated with oil prices. Oceaneering (OII), Ecopetrol (EC) and Battalion Oil (BATL) are now well-poised to gain.
- 07/13/2023
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Is Battalion Oil (BATL) Stock Undervalued Right Now?
- Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
- 07/13/2023
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Battalion Oil: Savings From Acid Gas Injection Project May Reach $30 Million Per Year
- Battalion's acid gas injection project is online and Battalion believes the cost savings could be up to $2.5 million per month after full ramp up. It also has cut cash G&A costs by approximately $6 million per year. However, Battalion's interest costs still hamper its ability to quickly pay down its debt.
- 06/14/2023
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Battalion Oil Corporation (BATL) Reports Q1 Loss, Lags Revenue Estimates
- Battalion Oil Corporation (BATL) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of $1.02. This compares to loss of $0.22 per share a year ago.
- 05/15/2023
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Is Battalion Oil (BATL) a Great Value Stock Right Now?
- Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
- 05/02/2023
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Battalion Oil: Debt Reduction Hampered By Interest And PIK Dividend Costs
- Battalion recently issued $25 million in preferred shares, with a PIK dividend rate of 16% per year. It also had (at the end of 2022) $235 million in credit facility debt at an interest rate that was expected to be 12.2% in Q1 2023.
- 04/12/2023
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Micro-Cap Energy Stocks Ranked By Quality
- Twenty-one micro-cap energy producers were evaluated using a quality matrix with factors including Price/Sales, YOY Revenue Growth, Net Income Margin, Free Cash Flow Margin, and Total Debt/Market Cap. I would advise only those investors with a high risk tolerance to consider micro-cap energy producers.
- 04/01/2023
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Battalion Oil Corporation (BATL) Reports Q4 Loss, Tops Revenue Estimates
- Battalion Oil Corporation (BATL) delivered earnings and revenue surprises of 72.88% and 42.91%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
- 03/30/2023
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New Strong Sell Stocks for March 6th
- BATL, AA and KMX have been added to the Zacks Rank #5 (Strong Sell) List on March 6, 2023.
- 03/06/2023
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Battalion Oil: A Look At Potential 2023 Scenarios
- Battalion's adjusted EBITDA should improve significantly in 2023. It is likely to end up with far lower realized hedging losses, and its gathering and other expenses will be reduced by its acid gas treating facility.
- 02/02/2023
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Battalion Oil Reduces Its Oil Production Guidance For 2022
- Battalion reduced its oil production guidance for 2022 by approximately 750 barrels per day, while maintaining its total production guidance. The lower than expected oil cut reduces its projected 2022 cash flow by around $15 million.
- 11/22/2022
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Battalion Oil Corporation (BATL) Q3 2022 Earnings Call Transcript
- Battalion Oil Corporation (NYSE:BATL ) Q3 2022 Results Conference Call November 16, 2022 11:00 AM ET Company Participants Chris Lang - Manager, Finance Richard Little - Chief Executive Officer Daniel Rohling - Chief Operating Officer Kevin Andrews - Chief Financial Officer Conference Call Participants Operator Welcome to the Battalion Oil Q3 2022 Earnings Call. As a reminder, today's conference is being recorded.
- 11/16/2022
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Battalion Oil: Ramping Up Oil Production
- Battalion Oil reported that its first five wells from its 2022 development program exceeded expectations for initial production rates. Battalion is attempting to grow oil production so that it has more unhedged barrels.
- 08/31/2022
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Battalion: Even With Risks, The New Joint Venture Implies Higher Price
- Battalion Oil Corporation develops oil and gas assets in the United States. I believe that most financial advisors only assessed the valuation of future production of oil and gas, and forgot to check the joint venture.
- 08/31/2022
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Why Occidental Petroleum, Diamondback Energy, and Battalion Oil Corporation Soared Today
- Supply concerns on the international front caused the price of oil to rise.
- 08/29/2022
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The 7 Best Stocks Under $20 to Buy Now
- Although 2022 hasn't gotten off to the start bullish investors were hoping for, the red ink does open the door for the best stocks under $20 to buy now. As many prominent financial advisors have mentioned, the silver lining in any bearish cycle is the chance to acquire high-potential companies at a discount, something that may not be available if the equities sector was in a frenzy.
- 07/31/2022
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Battalion Oil: Acid Gas Treatment JV Helps Improve Its Cost Structure
- Battalion has entered into a JV agreement with Caracara Services to develop an acid gas treatment and carbon sequestration facility. This is expected to reduce Battalion's gathering and other costs by approximately $3 per BOE starting in early 2023.
- 05/31/2022
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Battalion Oil Corporation (BATL) CEO Richard Little on Q1 2022 Results - Earnings Call Transcript
- Battalion Oil Corporation (NYSE:BATL ) Q1 2022 Earnings Conference Call May 10, 2021 11:00 AM ET Company Participants Chris Lang - Manager, Finance Richard Little - Chief Executive Officer Daniel Rohling - Chief Operating Officer Kevin Andrews - Chief Financial Officer Conference Call Participants Jeff Robertson - Water Tower Research Operator Good day ladies and gentlemen and welcome to the Battalion Oil Q1 2022 Earnings Call. As a reminder, today's conference is being recorded.
- 05/11/2022
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Battalion Oil Corporation Announces First Quarter 2022 Earnings Release and Conference Call Schedule
- HOUSTON, TX, May 05, 2022 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL, “Battalion” or the “Company”) today announced plans to release its first quarter 2022 financial results on Monday, May 9, 2022 after trading closes on the New York Stock Exchange.
- 05/05/2022
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Battalion Oil: Hedges Will Hamper Its 2022 Results
- Battalion's hedges have approximately negative $220 million in total value at current strip. Due to its hedges and spending on capex to ramp up production later in 2022, it is now projected to burn $43 million in cash during 2022.
- 04/27/2022
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Battalion Oil Corporation (BATL) CEO Richard Little on Q4 2021 Results - Earnings Call Transcript
- Battalion Oil Corporation (BATL) CEO Richard Little on Q4 2021 Results - Earnings Call Transcript
- 03/08/2022
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Battalion Oil Corporation Provides Operational Update, Releases Preliminary 2022 Guidance, and Schedules Fourth Quarter 2021 Conference Call
- Houston, Texas, Feb. 28, 2022 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL, “Battalion” or the “Company”) today provided an operational update, released its preliminary 2022 capital plan and production guidance, and provided details on the timing of its fourth quarter 2021 earnings release and conference call.
- 02/28/2022
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Battalion Oil: Aiming For Quick Well Paybacks In Monument Draw
- Battalion refinanced its debt, paying off its old credit facility and taking on higher interest rate debt that results in more liquidity. It is investing in Monument Draw production growth.
- 02/11/2022
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Battalion Oil Corporation (BATL) CEO Richard Little on Q3 2021 Results - Earnings Call Transcript
- Battalion Oil Corporation (BATL) CEO Richard Little on Q3 2021 Results - Earnings Call Transcript
- 11/09/2021
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Battalion Oil Corporation (BATL) CEO Richard Little on Q2 2021 Results - Earnings Call Transcript
- Battalion Oil Corporation (BATL) CEO Richard Little on Q2 2021 Results - Earnings Call Transcript
- 08/10/2021
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Battalion Oil Corporation Announces Second Quarter 2021 Results
- HOUSTON, Aug. 09, 2021 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSE American: BATL, “Battalion” or the “Company”) today announced results of operations for the second quarter 2021.
- 08/09/2021
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Battalion Announces Appointment of New Chief Financial Officer
- Houston, Aug. 19, 2020 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSEA: BATL, “Battalion” or the “Company”) today announced the appointment of Kevin Andrews as Executive Vice President, Chief Financial Officer and Treasurer of the Company effective August 17, 2020, replacing Ragan Altizer, who plans to retire from the oil and gas industry.Rich Little, Battalion’s Chief Executive Officer commented, “Kevin brings to Battalion a substantial track record in M&A, which will serve us well as we continue to evaluate responsible, accretive growth through consolidation. With the momentum we have achieved so far, I am pleased to leverage our strengths as a company in further pursuit of transformational change.”Mr. Andrews has led a successful career in oil and gas investment banking, most recently serving as Managing Director and Head of Energy Investment Banking at Imperial Capital, and previously at Wunderlich Securities, Pritchard Capital Partners and Morgan Keegan. Prior to his career in investment banking, Mr. Andrews was CFO of Denali Incorporated and Financial Manager at both Moorco International and Envirotech, a Baker Hughes subsidiary. Mr. Andrews began his career at Coopers & Lybrand after earning an MBA and a BBA in Accounting from The University of Tulsa.Mr. Little further commented, “Ragan has played an instrumental role in the transformational change that has occurred at Battalion and we could not have accomplished this without him. His unwavering leadership and friendship have been greatly appreciated, and while his presence will be missed at Battalion, we wish him well as he enters an exciting phase in his life.”Forward Looking Statements This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not strictly historical statements constitute forward-looking statements. Forward-looking statements include, among others, statements about anticipated production, liquidity, capital spending, drilling and completion plans, and forward guidance. Forward-looking statements may often, but not always, be identified by the use of such words such as "expects", "believes", "intends", "anticipates", "plans", "estimates", “projects”, "potential", "possible", or "probable" or statements that certain actions, events or results "may", "will", "should", or "could" be taken, occur or be achieved. Forward-looking statements are based on current beliefs and expectations and involve certain assumptions or estimates that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to, those set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and other filings submitted by the Company to the U.S. Securities and Exchange Commission (“SEC”), copies of which may be obtained from the SEC's website at www.sec.gov or through the Company's website at www.battalionoil.com. Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. The Company has no duty, and assumes no obligation, to update forward-looking statements as a result of new information, future events or changes in the Company's expectations.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 John-Davis Rutkauskas Director, Corporate Finance & IR (832) 538-0551
- 08/19/2020
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Battalion Oil Corporation Announces Second Quarter 2020 Results
- HOUSTON, Aug. 10, 2020 (GLOBE NEWSWIRE) -- Battalion Oil Corporation (NYSEA: BATL, “Battalion” or the “Company”) today announced its second quarter 2020 results. Second Quarter Highlights * Swift market reaction with no further capital required in 2020 to hold position; cut capital expenditures in Q2 2020 85% vs Q1 2020 * Decreased Adjusted G&A to $2.08/Boe in 1H 2020 vs $5.47/Boe in 1H 2019 (see Selected Operating Data table for additional information) * Generated Adjusted LTM EBITDA of $98 MM, representing >70% growth from Q2 2019 (see Adjusted EBITDA Reconciliation table for additional information) * Maintained peer-leading net leverage of <2.00x; focused on free cash flow in 2H 2020 and paying down debt * Opportunistically accelerated hedge value by lowering weighted average strike price from existing hedges, without unwinding tradesSecond Quarter Results Average daily net production for the quarter ended June 30, 2020 was 14,264 Boe per day, of which oil represented 60%. Total revenue for the second quarter was $18.5 million, of which 85% related to crude oil. Realized gains on derivative settlements totaled $32.5 million for the second quarter.Richard Little, the Company’s CEO, commented, “The second quarter was particularly difficult because it forced us to put a hold on our plans for growth in 2020, which we had been making tremendous progress on up to that point. However, I am proud of our team’s ability to work remotely and still keep our business on track to a brighter future. Current production is now back to or even above levels prior to shutting-in over 50% of our field, and we’re now benefiting from our proactive workover and well optimization program during this downturn.”Adjusted G&A was $2.85 per Boe in the second quarter of 2020 compared to $4.99 per Boe in the second quarter of 2019 (see Selected Operating Data table for additional information). Lease operating and workover expense was $8.36 per Boe in the second quarter of 2020 and $9.03 per Boe in the second quarter of 2019.The Company reported a net loss to common stockholders for the second quarter of $127.3 million including a full cost ceiling test impairment of $60.1 million. The Company reported a net loss per basic and diluted share of $7.86, and Adjusted LTM EBITDA of $98.2 million, compared to $56.4 million in the second quarter of 2019 (see Adjusted EBITDA Reconciliation table for additional information).As of August 11, 2020, Battalion had 9,000 Bopd of oil hedged for the second half of 2020 at an average price of $39.85 per barrel. For 2021, the Company has 7,000 Bopd of oil hedged at an average price of $45.51 per barrel. For 2022, the Company has 4,000 Bopd of oil hedged at an average price of $52.38 per barrel. As of June 30, 2020, the mark-to-market value of derivative contracts was approximately $37.5 million.Mr. Little commented further, “As we await a return to the drill bit next year, I’m pleased we have been able to optimize our base business, which will continue to serve as a foundation for generating free cash flow through these challenging times. We will benefit in the long term from allocating capital to price-agnostic projects in preparation for future activity as well as continue to pursue de-leveraging, responsible M&A opportunities.”Conference Call Information Battalion Oil Corporation has scheduled a conference call for Tuesday, August 12, 2020, at 11:00 a.m. EDT (10:00 a.m. CDT). To participate in the conference call, dial 720-452-9102 or 800-437-2398 (toll free) a few minutes before the call begins and reference Battalion Oil Corporation confirmation code 6548872. The conference call recording will also be posted to Battalion’s website: www.battalionoil.com.Forward Looking Statements This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not strictly historical statements constitute forward-looking statements. Forward-looking statements include, among others, statements about anticipated production, liquidity, capital spending, drilling and completion plans, and forward guidance. Forward-looking statements may often, but not always, be identified by the use of such words such as "expects", "believes", "intends", "anticipates", "plans", "estimates", “projects”, "potential", "possible", or "probable" or statements that certain actions, events or results "may", "will", "should", or "could" be taken, occur or be achieved. Forward-looking statements are based on current beliefs and expectations and involve certain assumptions or estimates that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to, those set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and other filings submitted by the Company to the U.S. Securities and Exchange Commission (“SEC”), copies of which may be obtained from the SEC's website at www.sec.gov or through the Company's website at www.battalionoil.com. Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. The Company has no duty, and assumes no obligation, to update forward-looking statements as a result of new information, future events or changes in the Company's expectations.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 John-Davis Rutkauskas Director, Corporate Finance & IR (832) 538-0551 BATTALION OIL CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except per share amounts) Successor Predecessor Successor Predecessor Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Operating revenues: Oil, natural gas and natural gas liquids sales: Oil $ 15,758 $ 53,232 $ 57,675 $ 98,749 Natural gas 836 (1,655) 1,190 (194) Natural gas liquids 1,437 4,297 6,190 9,242 Total oil, natural gas and natural gas liquids sales 18,031 55,874 65,055 107,797 Other 463 504 838 497 Total operating revenues 18,494 56,378 65,893 108,294 Operating expenses: Production: Lease operating 10,300 13,473 22,789 27,659 Workover and other 539 1,368 1,862 4,014 Taxes other than income 1,493 3,308 4,408 6,201 Gathering and other 15,228 11,041 25,775 25,910 Restructuring 2,162 654 2,580 11,925 General and administrative 5,270 12,519 9,126 17,127 Depletion, depreciation and accretion 14,382 40,425 32,412 70,400 Full cost ceiling impairment 60,107 664,383 60,107 939,622 (Gain) loss on sale of Water Assets — 2,897 — 3,782 Total operating expenses 109,481 750,068 159,059 1,106,640 Income (loss) from operations (90,987) (693,690) (93,166) (998,346) Other income (expenses): Net gain (loss) on derivative contracts (34,761) 17,010 83,538 (47,789) Interest expense and other (1,568) (14,470) (3,197) (27,059) Total other income (expenses) (36,329) 2,540 80,341 (74,848) Income (loss) before income taxes (127,316) (691,150) (12,825) (1,073,194) Income tax benefit (provision) — 50,306 — 95,791 Net income (loss) $ (127,316) $ (640,844) $ (12,825) $ (977,403) Net income (loss) per share of common stock: Basic $ (7.86) $ (4.03) $ (0.79) $ (6.15) Diluted $ (7.86) $ (4.03) $ (0.79) $ (6.
- 08/10/2020
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Battalion Oil: Upside Diminished At $10 Per Share
- Battalion's borrowing base was reduced to $200 million from $240 million and is going to be reduced further to $185 million by November. It is projected to end
- 06/25/2020
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How Much Are Battalion Oil Corporation (NYSEMKT:BATL) Insiders Spending On Buying Shares?
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- 06/17/2020
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Battalion Oil Corporation Announces First Quarter 2020 Results
- HOUSTON, May 11, 2020 -- Battalion Oil Corporation (NYSEA: BATL, “Battalion” or the “Company”) today announced its first quarter 2020 results. Average daily net production for.
- 05/11/2020
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Battalion Oil Corporation Announces Borrowing Base Redetermination and Q1 2020 Earnings Conference Call Details
- Battalion Oil Corporation (NYSEA: BATL, “Battalion” or the “Company”) today announced it has entered into an agreement with Bank of Montreal (“BMO”) to amend its revolving credit facility to, among other things, reduce the Company’s borrowing base to $200 million effective April 30, 2020 and further reduce the borrowing base by $5 million each month from September 1, 2020 until November 1, 2020. Battalion Oil Corporation has scheduled a conference call for Tuesday, May 12, 2020, at 11:00 a.m. EDT (10:00 a.m. CDT).
- 05/06/2020
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Battalion Announces Fourth Quarter 2019 Results and Provides 2020 Guidance
- HOUSTON, March 25, 2020 -- Battalion Oil Corporation (NYSEA: BATL, "Battalion” or the "Company") today reported results of operations for the three months and full year ended.
- 03/25/2020
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