Battalion Oil Corp Files 10-K/A Amendment

TL;DR

<b>Battalion Oil Corp has filed an amendment to its 2023 annual report, providing updated information for its common stock trading on NYSE American.</b>

AI Summary

BATTALION OIL CORP (BATL) filed a Amended Annual Report (10-K/A) with the SEC on April 29, 2024. Battalion Oil Corp filed an amendment (10-K/A) to its annual report for the fiscal year ended December 31, 2023. The company's common stock is registered under the ticker BATL and traded on the NYSE American exchange. The filing is an amendment, indicating potential corrections or updates to previously submitted information. Battalion Oil Corp is incorporated in Delaware and headquartered in Houston, Texas. The company operates in the Crude Petroleum & Natural Gas industry.

Why It Matters

For investors and stakeholders tracking BATTALION OIL CORP, this filing contains several important signals. This amendment suggests that the original filing may have contained errors or omissions that the company is now correcting, which could impact investor understanding of its financial position or operations. As a 10-K/A filing, it signifies a formal update to the company's comprehensive annual disclosure, crucial for investors assessing its performance and risks.

Risk Assessment

Risk Level: low — BATTALION OIL CORP shows low risk based on this filing. The risk is low as this is an amendment to a standard annual report (10-K/A) and does not appear to indicate a significant negative event, but rather a correction or update.

Analyst Insight

Investors should review the specific changes made in this 10-K/A filing to understand any updated financial or operational details for Battalion Oil Corp.

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report)
• 20240429 — Filing Date (Conformed submission type)
• 001-35467 — SEC File Number (Commission File Number)

Key Players & Entities

• BATTALION OIL CORP (company) — Registrant name
• BATL (company) — Trading Symbol
• NYSE American (company) — Exchange
• Delaware (company) — State of incorporation
• Houston, TX (company) — Principal executive offices
• 1934 (dollar_amount) — SEC Act

FAQ

Industry Context

Battalion Oil Corp operates within the Crude Petroleum & Natural Gas sector, a key component of the energy industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, which governs the reporting requirements for publicly traded companies in the United States.

What Investors Should Do

1. Review the specific amendments made in the 10-K/A filing for any material changes.
2. Verify the company's current operational and financial status as detailed in the amended report.
3. Monitor future filings for any further updates or disclosures from Battalion Oil Corp.

Year-Over-Year Comparison

This is an amended filing (10-K/A), indicating that it is a correction or supplement to a previously filed annual report for the fiscal year ended December 31, 2023.

Key Financial Figures

• $0.0001 B — ich registered Common Stock par value $0.0001 BATL NYSE American Securities registe

Filing Documents

• batl-20231231x10ka.htm (10-K/A) — 574KB
• batl-20231231xex31d1.htm (EX-31.1) — 15KB
• 0001558370-24-006126.txt (&nbsp;) — 832KB
• batl-20231231.xsd (EX-101.SCH) — 3KB
• batl-20231231_lab.xml (EX-101.LAB) — 26KB
• batl-20231231_pre.xml (EX-101.PRE) — 16KB
• batl-20231231x10ka_htm.xml (XML) — 10KB

Executive compensation

Executive compensation 8 ITEM 12.

Security ownership of certain beneficial owners and management and related stockholder matters

Security ownership of certain beneficial owners and management and related stockholder matters 14 ITEM 13. Certain relationships and related transactions, and director independence 15 ITEM 14. Principal accountant fees and services 17 PART IV ITEM 15. Exhibits and financial statements schedules 17 Table of Contents Explanatory Note This Form 10-K/A (this "Amendment") amends Battalion Oil Corporation's (referred to as "Battalion," "the Company," "our," "us," and "we") annual report on Form 10-K for the year ended December 31, 2023 (the "Original 10-K"), which was filed with the Securities and Exchange Commission (the "Commission") on A pril 1, 2024. The Company is filing this Amendment for the sole purpose of providing the information required by Items 10 through 14 of Part III of Form 10-K, including as exhibits the certifications required under Section 302 of the Sarbanes-Oxley Act of 2002 and compensation arrangements with newly determined Named Executive Officers, as defined by Item 402(m)(2) of Regulation S-K. The Part III information was previously omitted from the Original 10-K in reliance on General Instruction G(3) to Form 10-K. The reference on the cover of the Original 10-K to the incorporation by reference to portions of our definitive proxy statement into Part III of the Original 10-K is hereby deleted. In accordance with Rule 12b-15 under the Securities Exchange Act of 1934, as amended, Part III, Items 10 through 14, of the Original 10-K are hereby amended and restated in their entirety, and the Index to Exhibits of the Original 10-K is hereby amended and restated in its entirety. This Amendment reflects only the changes to the cover page, Items 10 through 14 of Part III and the Index to Exhibits described above. No other information included in the Original 10-K, including the information set forth in Part I and Part II, has been modified or updated in any way and, therefore, does not reflect any events which occurred subsequ

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE The Board of Directors Our business and affairs are managed under the direction of our board of directors, or board. Our bylaws state that the number of directors will not be less than one (1) nor more than seven (7) directors. Under our bylaws and our certificate of incorporation, each director holds office until the next annual meeting of stockholders and serves until the director's successor is duly elected and qualified, or until such director's earlier death, resignation or removal. The following table reflects the names and ages of our current directors, the positions and offices held and the length of their continuous service as a director: Name Director Since Age Position Jonathan D. Barrett May 2020 56 Director (Chairman of the Board); Committee Member: Nominating & Corporate Governance David Chang Oct. 2019 44 Director; Committee Member: Compensation (Chair) and Reserves Gregory S. Hinds Oct. 2019 60 Director; Committee Member: Reserves (Chair), Audit and Compensation Ajay Jegadeesan May 2023 42 Director; Committee Member: Reserves and Nominating & Corporate Governance William D. Rogers Jun. 2021 63 Director; Committee Member: Audit (Chair), Nominating & Corporate Governance (Chair) and Compensation Matthew B. Steele Apr. 2023 45 Director and Chief Executive Officer Jonathan D. Barrett | Independent Director and Chairman of the Board Director Bio and Qualification Highlights: Mr. Barrett is the President of Luminus Management ("Luminus"), an investment management firm focused on investments across the capital structure of companies within the broader energy ecosystem. Mr. Barrett joined Luminus shortly after its founding in 2003 and has led the firm since 2011. From 2005 to 2007, he served as Managing Director and a member of the Investment Committee of LS Power Equity Advisors, the private equity arm of LS Power, a former affiliate of Luminus foc

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION The following discussion of executive compensation contains descriptions of various employment-related agreements and employee benefit plans. These descriptions are qualified in their entirety by reference to the full text of the referenced agreements and plans, which have been filed by us as exhibits to our reports on Forms 10-K, 10-K/A, 10-Q and 8-K filed with the SEC. Our compensation philosophies and programs are designed, structured and administered under the oversight of the Compensation Committee. Among the important responsibilities delegated to the Compensation Committee by our board is evaluating the performance of, and making recommendations on the compensation of, the senior management of the Company, including the performance and compensation of our executive officers discussed below. For the purposes of our discussion, our named executive officers for 2023 are: Name Title Matthew B. Steele Chief Executive Officer (principal executive officer & principal financial officer) Richard H. Little (1) Chief Executive Officer (principal executive officer) Daniel P. Rohling Executive Vice President and Chief Operating Officer Walter R. Mayer Senior Vice President, General Counsel and Corporate Secretary Leah R. Kasparek (2) Senior Vice President, Human Resources and Corporate Secretary (1) Richard H. Little ' s employment with the Company ended effective April 2, 2023. (2) Leah R. Kasparek ' s employment with the Company ended on May 31, 2023. Ms. Kasparek was retained by the Company as an independent contractor until November 2023. 8 Table of Contents Our Compensation Committee The Compensation Committee of the board is comprised entirely of independent directors in accordance with the applicable rules of the NYSE American. The primary duties and responsibilities of the Compensation Committee are to implement our compensation policies and programs for senior management, including the named executive o

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View this 10-K/A filing on SEC EDGAR