---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-009873"
form_type: "8-K"
ticker: "BATL"
cik: "0001282648"
company_name: "BATTALION OIL CORP"
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T00:44:52.683330+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Battalion Oil Q1 2023 net income $22.8M ($1.28 EPS), revenue $65.1M; cuts corporate workforce 44%

## Summary
- Net income of $22.8M (diluted EPS $1.28), adjusted net loss $0.7M (-$0.04/sh). Revenue $65.1M (down from $81.6M in Q1 2022).
- Sales volumes 16,200 Boe/d (50% oil) vs 14,767 Boe/d in Q1 2022. Adjusted EBITDA $26.1M (vs $11.8M).
- Corporate workforce reduced 44% in April; expects up to 40% reduction in cash G&A run rate vs 2022.
- Acid gas injection facility ramping up; expected to save up to $2.5M/month in treating fees once fully online.
- Liquidity $23.2M cash; $230.3M debt; issued $24.4M net from convertible preferred stock in March.

## SEC filing metadata
- accession: 0001558370-23-009873
- form_type: 8-K
- ticker: BATL
- cik: 0001282648
- company_name: BATTALION OIL CORP
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1282648/000155837023009873/0001558370-23-009873-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1282648/000155837023009873/batl-20230515x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-009873
- JSON: https://secwatch.observer/filing/0001558370-23-009873.json
- Plain text: https://secwatch.observer/filing/0001558370-23-009873.txt

## Key facts
- Earnings Releases
  BATTALION OIL CORP reported the first quarter of 2023 results: revenue $65.1 million, net income $22.8 million, EPS $1.28.
  - Period: the first quarter of 2023
  - Revenue: $65.1 million
  - Net income: $22.8 million
  - EPS: $1.28
  - Result: reported results
  source text: Average daily net production and total operating revenue during the first quarter of 2023 were 16,200 Boe/d (50% oil) and $65.1 million, respectively, as compared to production and revenue of 14,767 Boe/d (50% oil) and $81.6 million, respectively, during the first quarter of 2022. The decrease in revenues in the first quarter of 2023 as compared to the first quarter of 2022 is primarily attributable to an approximate $17.18 decrease in average realized prices (excluding the impact of hedges), partially offset by an increase in average production volumes over the periods. Excluding the impact of hedges, Battalion realized 95% of the average NYMEX oil price during the first quarter of 2023. Realized hedge losses totaled approximately $1.5 million during the first quarter 2023. Lease operating and workover expense was $8.94 per Boe in the first quarter of 2023 versus $9.32 per Boe in the first quarter of 2022. The decrease in lease operating and workover expense per Boe year-over-year is
  evidence_url: https://www.sec.gov/Archives/edgar/data/1282648/000155837023009873/0001558370-23-009873-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.