BATTALION OIL CORP 8K

Battalion Oil Corporation reported Q2 2026 results, raised equity under a new ATM program to strengthen liquidity, refinanced and extended its senior secured credit facility, partially retired preferred equity at a discount, and advanced its Monument Draw development through midstream expansions and a new joint exploration and development agreement.

On August 12, 2026, Battalion Oil Corporation reported its financial and operating results for the quarter ended June 30, 2026, highlighting positive equity of $203.1 million, average sales volumes of 12,407 Boe/d, a roughly 12% reduction in lease operating and workover expense per Boe versus Q1 2026, and net income available to common stockholders of $9.1 million ($0.34 per share). The company raised liquidity by establishing a $150 million at-the-market equity offering program in May 2026 and issuing a total of 32.3 million common shares (17.4 million during Q2 and 14.9 million after quarter-end) for combined net proceeds of approximately $55.9 million, which were used to reduce net debt to $74.2 million (leverage ratio 1.36x), refinance its senior secured term loan on improved terms, and redeem/convert a portion of its preferred equity, extinguishing $42 million of preferred liquidation value for $19 million in cash and 3.5 million common shares. Operationally, Battalion completed midstream expansion projects at Monument Draw ahead of schedule and under budget, secured additional sour gas compression capacity that increased gas handling from 35 MMcf/d to over 50 MMcf/d at no capital cost, and finalized a joint exploration and development agreement for up to eight wells in Monument Draw (initially a four-well pad targeting multiple formations) with drilling expected to commence before the end of August 2026. Additionally, on June 30, 2026, the company closed a Third Amended and Restated Senior Secured Credit Agreement extending debt maturity to December 31, 2029, fixing the margin at 6.50% over SOFR (replacing a higher leverage-based pricing grid), and providing up to $175 million of discretionary delayed draw term loan capacity, while maintaining covenant protections tied to leverage, liquidity, coverage, and asset coverage ratios.

Filing Facts

CIK

1282648

Ticker

-

Form

8K

Source Type

sec

Accession

0001104659-26-094942

Alert Tier

7