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BATL-News
BATL-Events
Battalion Oil Signs LOI for Joint Development Agreement
Battalion Oil announced the execution of a letter of intent, or LOI, with an unaffiliated industry partner outlining the key terms of a Joint Development Agreement, JDA. Highlights include: Executed a LOI with an unaffiliated industry partner contemplating a JDA for an up to eight-well Monument Draw program that would provide shared capital and an accretive carry to Battalion while accelerating development of core inventory; Battalion would continue to operate the wells and retain a majority working interest in the program; Development targets the 3rd Bone Spring, Wolfcamp A, and Wolfcamp B formations in Monument Draw, building on the Company's recently announced expansion of sour gas compression capacity in Monument Draw; This drilling program is expected to deliver very attractive returns and prove out extensive additional drilling locations; Development transitions Battalion's operations to cube development across its primary benches, mirroring the successful co-development approach demonstrated by offset operators in the area and designed to maximize recovery and capital efficiency across the stacked-pay column; This is a key step in our progress toward a multi-year drilling program to generate significant shareholder value. Separately, the Company is also negotiating an accretive refinance of long-term debt and an oil transport and marketing partnership to further enhance the corporate benefit of this JDA.
Battalion Oil Files $375M Mixed Securities Shelf
Battalion Oil files $375M mixed securities shelf
Battalion Oil Files to Sell 37M Shares of Common Stock
Battalion Oil files to sell 37M shares of common stock for holders
Battalion Oil Files to Sell 2.73M Shares of Common Stock
Battalion Oil files to sell 2.73M shares of common stock for holders
Battalion Oil Acquires Oil and Gas Assets from RoadRunner Resource Holding
Battalion Oil Corporation entered into a Purchase and Sale Agreement to acquire certain oil and gas assets, comprising 7,090 net acres located in Ward County, Texas, from RoadRunner Resource Holding in an all-stock transaction. Under the terms of the PSA, Battalion will issue 485,000 shares of its common stock to Sundown in exchange for the Assets. The acquired leases directly adjoin Battalion's existing Monument Draw position, substantially enhancing the Company's continuous and operationally efficient footprint in the region. The effective date of the proposed acquisition is March 1, 2026. The transaction is subject to customary closing adjustments & conditions, registrations rights, and regulatory approvals. Battalion and Sundown previously partnered on this acreage under a joint venture agreement. As the operator during that JV, Battalion drilled and evaluated the acreage, giving the Company high confidence in the asset's subsurface characteristics and expected well performance.
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