Battalion Oil Corporation ( (BATL) ) has released its Q4 earnings. Here is a breakdown of the information Battalion Oil Corporation presented to its investors.
Battalion Oil Corporation is an independent energy company focused on the acquisition, production, exploration, and development of onshore oil and natural gas properties in the United States.
In its latest earnings report for the fourth quarter of 2024, Battalion Oil Corporation highlighted several key achievements, including the successful refinancing of its term loan, which improved liquidity, and the completion of its six-well campaign ahead of schedule and under budget. The company also reported a year-end reserve of approximately 64.9 million barrels of oil equivalent.
The company’s financial performance showed an increase in average daily production to 12,750 barrels of oil equivalent per day, contributing to a total operating revenue of $49.7 million for the quarter. Despite this, Battalion reported a net loss of $30.9 million for common stockholders, primarily due to increased general and administrative expenses linked to a terminated merger agreement with Fury Resources. Adjusted EBITDA improved significantly to $18.0 million from $10.0 million in the same period the previous year.
Looking ahead, Battalion Oil Corporation remains focused on its 2025 six-well activity plan, with operations already underway in Monument Draw. The company continues to prioritize operational efficiency and cost management, aiming to enhance production and financial performance in the coming year.