secwatch.observer — SEC 8-K summary
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Issuer:     BATTALION OIL CORP (BATL)
CIK:        0001282648
Form:       8-K
Filed at:   2023-05-15T23:59:59+00:00
Accession:  0001558370-23-009873
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1282648/000155837023009873/0001558370-23-009873-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1282648/000155837023009873/batl-20230515x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-009873

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