Recent Updates — BATL
Battalion Oil Corporation expanded its board of directors from four to five members and appointed John “Brad” Juneau as an independent director, effective September 30, 2026. Mr. Juneau brings over 40 years of experience in oil and gas exploration, having previously served as Chairman of Contango Silver & Gold Inc. and on the board of Talos Energy Inc. He is also the founder of Juneau Exploration, L.P., which manages hydrocarbon projects in South Louisiana and Alaska. This appointment aligns with the Board's stated intention to strengthen governance following changes announced in March 2026. 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.
Battalion Oil Corp reported second quarter 2026 financial results, posting net income available to common stockholders of $9.1 million ($0.34 per share), a reversal from the prior year's loss. Average daily production was 12,407 Boe/d with operating revenues of $48.1 million. The company reduced its leverage ratio to 1.36x and net debt to $74.2 million through an ATM equity program that raised $55.9 million in Q2 and post-quarter end. Management also completed a refinancing of its senior secured credit facility, extending maturity to December 31, 2029, with interest set at SOFR plus 6.50%. Additionally, Battalion extinguished $42 million in preferred equity liquidation value for $19 million in cash and common shares. The company operates in the oil and natural gas exploration and production industry.
On August 7, 2026, Battalion Oil Corp entered into a Preferred Stock Repurchase and Conversion Agreement with Gen IV Investment Opportunities, LLC. The company agreed to repurchase 5,138 shares of Series A Preferred Stock and 6,578.11 shares of Series A-1 Preferred Stock for an aggregate purchase price of $19,000,000. Concurrently, Gen IV elected to convert 1,231.89 shares of Series A-1, 6,630 shares of Series A-2, and 7,578 shares of Series A-3 and A-4 Preferred Stock into an aggregate of 3,494,258 shares of common stock. Following these transactions, Gen IV holds no preferred stock, which will be retired and cancelled. The parties also executed a Voting and Lock-Up Agreement requiring Gen IV to vote in line with board recommendations for twelve months. Battalion Oil Corp operates in the oil and gas exploration and production industry.
On June 30, 2026, Battalion Oil Corporation's subsidiary, Halcón Holdings, LLC, entered into a Third Amended and Restated Senior Secured Credit Agreement, providing a term loan facility of $162.5 million and an uncommitted delayed draw term loan facility of up to $175.0 million. The agreement, maturing on December 31, 2029, features a fixed 6.50% margin over SOFR, replacing a leverage-based pricing grid. Battalion Oil Corporation is an oil and gas exploration and production company.