Battalion Oil Corp. Q2 2024 10-Q Filed
Ticker: BATL · Form: 10-Q · Filed: Aug 14, 2024 · CIK: 1282648
Sentiment: neutral
Topics: 10-Q, financials, oil-gas
TL;DR
**BATTALION OIL CORP Q2 2024 10-Q FILED: $1.6B Assets, $1.3M Liabilities.**
AI Summary
Battalion Oil Corp. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $1,645,656,300 and total liabilities of $1,380,000 for the quarter. Retained earnings stood at $98,000 as of June 30, 2024.
Why It Matters
This filing provides a snapshot of Battalion Oil Corp.'s financial health and operational status as of the second quarter of 2024, crucial for investors and creditors.
Risk Assessment
Risk Level: low — This is a routine financial filing with no immediate red flags or significant new information.
Key Numbers
- $1.65B — Total Assets (As of June 30, 2024)
- $1.38M — Total Liabilities (As of June 30, 2024)
- $98K — Retained Earnings (As of June 30, 2024)
Key Players & Entities
- BATTALION OIL CORP (company) — Filer
- 20240630 (date) — Period of Report
- $1,645,656,300 (dollar_amount) — Total Assets
- $1,380,000 (dollar_amount) — Total Liabilities
- $98,000 (dollar_amount) — Retained Earnings as of 2024-06-30
FAQ
What were Battalion Oil Corp.'s total assets as of June 30, 2024?
Total assets were $1,645,656,300 as of June 30, 2024.
What were Battalion Oil Corp.'s total liabilities as of June 30, 2024?
Total liabilities were $1,380,000 as of June 30, 2024.
What was the amount of retained earnings for Battalion Oil Corp. on June 30, 2024?
Retained earnings were $98,000 on June 30, 2024.
What is the fiscal year end for Battalion Oil Corp.?
The fiscal year end for Battalion Oil Corp. is December 31.
What is the primary business of Battalion Oil Corp. according to the SIC code?
The Standard Industrial Classification code indicates the primary business is Crude Petroleum & Natural Gas (1311).
Filing Stats: 4,420 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-08-14 16:34:05
Key Financial Figures
- $0.0001 B — ch registered Common Stock, par value $0.0001 BATL NYSE American Indicate by check
Filing Documents
- batl-20240630x10q.htm (10-Q) — 1715KB
- batl-20240630xex31.htm (EX-31) — 15KB
- batl-20240630xex32.htm (EX-32) — 7KB
- 0001558370-24-012253.txt ( ) — 7465KB
- batl-20240630.xsd (EX-101.SCH) — 54KB
- batl-20240630_cal.xml (EX-101.CAL) — 60KB
- batl-20240630_def.xml (EX-101.DEF) — 195KB
- batl-20240630_lab.xml (EX-101.LAB) — 435KB
- batl-20240630_pre.xml (EX-101.PRE) — 293KB
- batl-20240630x10q_htm.xml (XML) — 1400KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 26 ITEM 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 37 ITEM 4.
Controls and Procedures
Controls and Procedures 37 PART II OTHER INFORMATION ITEM 1.
Legal Proceedings
Legal Proceedings 38 ITEM 1A.
Risk Factors
Risk Factors 38 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 ITEM 3. Defaults Upon Senior Securities 38 ITEM 4. Mine Safety Disclosures 38 ITEM 5. Other Information 38 ITEM 6. Exhibits 39
Signatures
Signatures 40 2 Table of Contents Special note regarding forward-looking statements This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws. All statements, other than statements of historical facts, may be forward-looking statements, should be evaluated as such and may concern, among other things, the structure, timing and completion of the proposed Merger (as defined below); any anticipated effects of the announcement, pendency or completion of the proposed Merger on the value of our common stock; ability to obtain any required regulatory approvals in connection with the proposed Merger; expenses related to the proposed Merger and any potential future costs; planned capital expenditures, potential increases in oil and natural gas production, potential costs to be incurred, future cash flows and borrowings, our financial position, business strategy and other plans and objectives for future operations. These forward-looking statements may be identified by their use of terms and phrases such as "may," "expect," "estimate," "project," "plan," "objective," "believe," "predict," "intend," "achievable," "anticipate," "will," "continue," "potential," "should," "could" and similar terms and phrases. Although we believe that the expectations reflected in forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements. Readers should consider carefully the risks described under the "Risk Factors" section of our previously filed Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as well as the other disclosures contained herein and therein, which describe factors that could cause our actual results to differ from those anticipated in forward-looking statements, which include, but are not limited to, the following factors: volatility in prices for oil, na
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Condensed Consolidated Financial Statements (Unaudited)
Item 1. Condensed Consolidated Financial Statements (Unaudited) BATTALION OIL CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except per share amounts) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Operating revenues: Oil, natural gas and natural gas liquids sales: Oil $ 45,699 $ 46,168 $ 88,128 $ 100,383 Natural gas ( 2,119 ) 2,060 ( 72 ) 4,960 Natural gas liquids 5,503 5,657 10,559 12,815 Total oil, natural gas and natural gas liquids sales 49,083 53,885 98,615 118,158 Other 21 387 359 1,256 Total operating revenues 49,104 54,272 98,974 119,414 Operating expenses: Production: Lease operating 11,005 11,365 22,591 23,056 Workover and other 951 2,634 1,839 3,969 Taxes other than income 3,349 3,180 6,340 6,370 Gathering and other 12,126 16,828 29,412 33,345 General and administrative 3,340 5,243 7,411 10,380 Depletion, depreciation and accretion 13,213 14,713 26,238 30,861 Total operating expenses 43,984 53,963 93,831 107,981 Income from operations 5,120 309 5,143 11,433 Other income (expenses): Net gain (loss) on derivative contracts 1,223 4,473 ( 22,964 ) 23,946 Interest expense and other ( 6,448 ) ( 9,530 ) ( 13,486 ) ( 17,316 ) Total other (expenses) income ( 5,225 ) ( 5,057 ) ( 36,450 ) 6,630 (Loss) income before income taxes ( 105 ) ( 4,748 ) ( 31,307 ) 18,063 Income tax benefit (provision) — — — — Net (loss) income $ ( 105 ) $ ( 4,748 ) $ ( 31,307 ) $ 18,063 Preferred dividends ( 8,586 ) ( 997 ) ( 14,218 ) ( 2,489 ) Net (loss) income available to common stockholders $ ( 8,691 ) $ ( 5,745 ) $ ( 45,525 ) $ 15,574 Net (loss) income per share of common stock available to common stockholders: Basic $ ( 0.53 ) $ ( 0.35 ) $ ( 2.77 ) $ 0.87 Diluted $ ( 0.53 ) $ ( 0.35