Battalion Oil commences latest drilling campaign in Q4

The Company kicked off its latest drilling campaign in the fourth quarter and the first two-well pad in Monument Draw is currently ahead of plan from both cycle-time and budget perspectives. Also in the fourth quarter, the two previously announced Vermejo wells came online and are producing above the Company’s type curve expectations with initial 30-day production of 1,211 barrels of oil equivalent per day while capital costs remain below $950/ft. To date, the acid gas injection facility has treated over 5.1 billion cubic feet of sour gas and daily volumes have exceeded 30 million cubic feet per day. Battalion and its JV partner continue to ramp toward full inlet capacity in the current AGI facility and the Company is evaluating potential next steps for its second AGI well that is already permitted, drilled and completed in the target injection zone.