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Battalion Oil Corporation Announces First Quarter 2026 Financial and Operating Results

BATL
  • Battalion Oil Corporation reported positive equity of $157.1 million for Q1 2026, providing a basis for NYSE listing compliance.
  • Net debt decreased to $108.3 million from $180.2 million in Q4 2025.
  • The company divested West Quito assets for $60.1 million in net proceeds, using $45.6 million to repay Term Loan amounts.
  • A private placement raised $15.0 million through the sale of common stock at $5.50 per share.
  • 7,803 preferred stock shares were converted into 1.8 million common shares at a conversion price of $6.21 per share.
  • Battalion acquired 7,090 net acres adjacent to Monument Draw in exchange for 485,000 common shares.
  • Q1 2026 average daily production reached 12,578 Boe/d (47% oil), an increase from 11,207 Boe/d in Q4 2025.
  • Lease operating and workover expenses per BOE were reduced by approximately 24% compared to Q4 2025.
  • Strategic negotiations are ongoing for refinancing, a carried drilling venture, infrastructure to pipe Monument Draw production instead of trucking.
  • Cube-style development is planned for additional proven benches to expand inventory.
  • Q1 2026 total operating revenue was $39.2 million, down from $47.5 million in Q1 2025, primarily due to a $9.73 per Boe decrease in average realized prices excluding hedges.
  • Lease operating and workover expense per Boe fell to $9.82 in Q1 2026 from $11.01 in Q1 2025.
  • Gathering and other expenses per Boe decreased to $9.94 in Q1 2026 from $11.20 in Q1 2025 due to savings from capital projects and reliable throughput.
  • General and administrative expenses per Boe were $3.76 in Q1 2026 compared to $4.12 in Q1 2025.
  • The company reported a net loss available to common stockholders of $64.8 million ($3.72 per share), largely driven by $47.96 million in unrealized non-cash derivative losses.
  • Adjusted diluted net loss for Q1 2026 was $16.2 million ($0.93 per share), excluding non-recurring charges and unrealized derivative impacts.
  • Adjusted EBITDA for Q1 2026 was $10.0 million, compared to $15.1 million in Q1 2025.
  • As of March 31, 2026, term loan indebtedness stood at $162.5 million with total liquidity of $54.3 million.
  • Management expects to execute definitive documents for refinancing carried drilling, pipeline infrastructure in late Q2 2026, with pipeline operations targeting early Q3 2026.