Battalion Oil posts Q1 net loss of $36.8M; revenue down 23% YoY to $49.9M

BATTALION OIL CORP

2024-Q1 EPS reported -$2.24 revenue$49,870,000

Net loss available to common stockholders of $36.8M, or $2.24 per diluted share; adjusted net loss $17.1M ($1.04/share).
Revenue of $49.9M, down from $65.1M YoY; production fell to 12,989 Boe/d from 16,200 Boe/d.
Adjusted EBITDA plunged to $9.4M from $26.1M in Q1 2023, reflecting lower production and higher costs.
AGI project restarted; expects up to $2.0M/month in gas treating cost savings; two new wells with IPs >1,950 Boe/d.
Raised $40M in preferred equity (March and May 2024); used $17.3M to cut debt to $172.7M as of May 14.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BATTALION OIL CORP reported the first quarter of 2024 results: revenue $49.9 million, net income a net loss available to common stockholders of $36.8 million, EPS a net loss of $2.24 per share available to common stockholders.

Period: the first quarter of 2024
Revenue: $49.9 million
Net income: a net loss available to common stockholders of $36.8 million
EPS: a net loss of $2.24 per share available to common stockholders
Result: reported results

Exact text from the filing

per month in gas treating costs. Results of Operations Average daily net production and total operating revenue during the first quarter of 2024 were 12,989 Boe/d (48% oil) and $49.9 million, respectively, as compared to production and revenue of 16,200 Boe/d (50% oil) and $65.1 million, respectively, during the first quarter of 2023. The decrease in revenues in the

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Source: SEC EDGAR

accession 0001558370-24-008301

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